Sunday, November 14, 2010
Chances Of Hyperinflation 100%, Within Months: Gold To $8000
Turk believes, that the fair price for gold would at least double from the current level. His longer term price forcast between 2013 and 2015 is 8000 Dollar per ounce, a prognosis that he did already in 2003. If gold went from 35 $ to 800$ it could well go from 350 (in 2003) to 8000$ says Turk.
“In order to protect yourself you have to go to gold”, says Turk. “The fact of the matter is that there is a lot paper out there and very little gold. It only takes a small amount of people to move into gold to have a big impact on the goldprice. Just like it did back in the 70ies: Gold finally broke free at 35 Dollars and went from 35 to 200 in the course of three years. My guess is that in the next couple of years gold ist going to 2000-3000$ before its going to 8000$ in 2015.”
According to turk a gold confiscation could be possible if the price goes too high and reflects an alarm signal that there is something wrong in the financial system. “America did that in 1933 but they didn’t prohibit ownership outside the united states. And there may be a prohibition sgsin in the future. So you need to diversify geograficly, different countries, different political systems and hold your gold at different places around the world. In that way you can medicate the risk of confiscation.”
Turk believes that the chances of hyperinflation is 100%. The US is on the road to hyperinflation.
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Well. I been readin' this crap on here for damn near 2 years now !
ReplyDeleteLet er rip already !
Where's it at ! Cause I ain't seen it nowheres yet?
Where?
One lame prediction after the other
Where ?
Oh yeah - tomorrow
Next month
Next year
Nothing has changed except a whole lot of bullshit high soundin' talk from alot of people puffin' their chests out.
Don't mean doodly squat to me
Where's it at you say?
Oh yeah, I know - right around the corner and go ahead and call me a squirrel, sheep and a troll dude while your at it.
In 2008 Gold was around $855, Housing has collapsed, 43 million (50 million in 2011) are on food stamps, 1000's of businesses and millions of people have gone bankrupt. Taxes have risen substantially. We are closer to WAR then ever before. There is a CURRENCY war at the moment. Have you been reading the white part of this blog or the worded parts? You're not that clued out in space are you??
ReplyDeleteIMO there will not be hyperinflation.. And if you have not notice we have been at war for 10 years now.
ReplyDeleteThey may not be worried because they know something far worse is headed our way and
ReplyDeleteNO I am NOT talking about planet X.
7:04 we have not been at war, remember Bush stated the war was OVER? MO there will not be hyperinflation That's funny. That's a GREAT analogy to that statement, by the way..
ReplyDeleteWe already have collapsed. WTF? The last two years alone have been like a falling elevator. Do you just assume this is some kind of Y2K paranoia and there's nothing else attached to this? Have you not been looking around where you live, all the shit added up? Just assuming since the sky didn't fall that nothing is crashing?
ReplyDeleteI don't even know where to begin. I always read people commenting from other idiot sites, "This is just Y2K all over again." Yeah... with the rate this falling elevator has been going, there are worse things than the sky falling.
I'll go now help the pilgrims set up camp, or maybe invent electricity. Nothing like the fall of the USA could ever happen. There is no such thing as change.
The dollar is going to be history very soon, that's pretty much an acknowledged reality by any real economist (not those in the administration). How soon? It would be miraculous if it didn't go out within six months. We are so past due, like an old cat still using lives past nine. It definitely isn't 20 years off, 10 years off, or even five years off.
They've decreed that we will have food inflation in 2011. Your candy will cost 15 dollars, coffee 70+, bread near 60$. There is going to be no more jobs, no more police, and no more television with that kind of scenario. That alone, along with many other negative economic realities aren't included there, is enough to make anyone in their right mind and with the wealth, leave the country.
But the end of the world has yet to come, this is just another Christian Apocalyptic fear mongering and people have been saying this for thousands of years right? Nothing bad can happen to your simple, cozy life? Anything like that is just silly end of world talk?
Interesting question presented at FOFOA: (question/possibility was posed around '01)
ReplyDelete5} All-out war that distracts/rescues the dollar and extends its life. Wag the dollar.
------ As we enter the down side of our economic function (like we are doing now) the massive money printing by the Fed will risk the dollar's slow slide to becoming a super slide if a war breaks out. People run to the best managed world money in a war, not just the one with the current best exchange rate value. In the past the dollar was the one, today the Euro would receive the flow. The US would be risking killing its last bit of dollar timeline with any war today. [unless, perhaps, A) it wasn't an "all-out war" and B) it has the backing of Europe and the Saudis in pursuing the war?
Sounds familiar.
how long it might take before inflation breaks out is one thing.
ReplyDeleteEven if wild inflation can be held at held at bay ,the interest on the quartative easing money created as debt for the US govermment must be paid for out of future government tax revenues .
This must eventuate in higher taxes from working peoples incomes .
Therefore people will lose a part of their current incomes to pay for the future profits of the Treasury bondholders and the Fed.
The rich do not worry about food inflation as it costs a proportionaly smaller part of their incomes.
for the working people and those on fixed incomes like pensioners food costs are already a huge part of their incomes.
With smaller incomes because of the necessarily higher taxes they will have even less money to spend on food.
Will not that degeneration of people living standards by loss of incomes be only another "form" of inflation,even if it is not technicaly called by the economists counting "inflation" and be compensated to those on fixed incmes by COLA adjustments ?
They will say according to our "counting" methods:
We see no inflation !
6.23 keep watching Dancing with the Stars
ReplyDeletefootball tailgate parties and reading National Enquirer.By the looks of a mouse is going to have to crawl half way up your anal cavity before you get It!.Certified Ignoramus Sheeple.
Inflation is actually good for the indentured servant youth who are tied to 6 figure student loan debts. If everybody has a 7 figure salary those debts disappear at least. The government is too gutless to allow most of the country to declare bankruptcy, which is what should happen.
ReplyDeleteAll the student loans and extortion level housing prices need to be wiped clean. Student loan lending and even house lending probably should be prohibited. The bible prohibits usury, yet that's all this is. People need to wake up already, there was a reason why major religions all prohibited this type of thing, it was tried before and it failed obviously. This is what happens when you completely ignore thousands of years of government philosophy (and that's what religion is, governing people).
People who think nothing much has happened (because of all those predictions about the end of the world and another market crash) are the same people who can quote sports scores but have no idea who their congressman is. They are clueless, so ignore them.
ReplyDeleteWe have had price inflation for the past two years, but not hyperinflation. It doesn't matter because 20% of the country is out of work and the rest have stagnant or cut-back salaries. So there is no extra money to spend on the stuff that used to keep the economy moving.
Meanwhile, gasoline is going up, and that is going to make this depression worse. If you add in the thieving Republicans and their spineless Dem friends, who will cut benefits to the elderly and poor--and claim it is helping the deficit--then you will have the makings of a second American revolution. And it can't happen too soon for me.
A slow fall or a quick tumble? Is the question...Not IF it will happen.
ReplyDeleteSometimes I appreciate the extra time by the slow fall...Othertimes I get impatient and want the quick tumble to start cleaning up and honestly to wake/punish people for being idiots...Then I feel guilty since I know first to suffer will be the old, the sick and the young...Culling of the herd?
So many variables...So many good things can come from this but only after everything is destroyed...Kinda like winning the battle but losing the war.
FOR EXAMPLE: "Yay people are awake, they now know what true beauty is, intelligence/common sense is once again in fashion and life is simpler but with a purpose!
Oh yeah but people have no food, fuel, clean water or meds now due to scarcity or due to the price...Oh and there's crime, rape and murder everywhere."
So I think I'll be thankful for the extra time.
There's crime, rape and murder everywhere now, the difference is it might be a little more visible as it comes out of the prison industry. The prison industry, though, will take a hit. We will no longer be churning out criminals at record levels. The failed drug war will be halted. The cops wont be on the street busting everyone for anything from protesting to refusing to say the pledge of allegiance to doing 25 in a school zone. For a while the drug dealers and crooks will have more power. That power will be subverted if and when the drug trade becomes legal. Instantly there goes the monopoly and the reason to be pushing it onto the streets and neighborhoods so heavily overnight.
ReplyDeleteYes,taxes will go up. Alot of your taxes are adjusted automatically to inflation. Take sales taxes for instance, if you go to the store and buy $100.00 worth of stuff and the tax rate is 8.75% then you will pay $8.75 in sales tax. Then in a couple of years of inflation you buy the same stuff and it costs you $200.00 you will pay $17.50 in tax. Isn't it great for local and state govenment to have 100% tax inflation protection. Yet, I can't figure out why they keep wanting to raise the percentage take.
ReplyDeleteThe Social Security and Medicare flat tax that is paid by the little people also automatically adjusts with inflation. If you work longer hours or get a wage increase you end up paying more flat tax. I get so sick of the rich talk about a flat income tax, who do they think they are fooling, the little people already have it along with the current progressive income tax on top of that.
There has been a history of shifting the burden of taxation from the corporations and rich to the middle class and now with the destruction of the middle class you have the whole system of multible levels of government in trouble.
2:38 If it's so fucking unfair
ReplyDeleteMove
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