Tuesday, April 5, 2011

U.S Dollar Collapse Will Accelerate

With gold and silver strong as of late, the Godfather of newsletter writers Richard Russell had this to say in his latest commentary, “(Bill) Gross warns that 75% of the US budget is nondiscretionary and is entitlement-based. With Medicare, Medicaid and Social Security, notes Gross, we are seeing $1 trillion deficits as far out as the eye can see. These three entitlements amount to 44% of Federal spending and their share is steadily rising.”

Richard Russell continues:


“Concludes Bill Gross, "Unless entitlements are substantially reformed, I am confident that this country will default on its debts, not in conventional ways, but by picking the pocket of savers via a combination of less observable, yet historically verifiable policies -- inflation". . . . . "You must attack entitlements," warns Gross, "and make 'debt' a four-letter word."


Bill Gross manages the largest bond fund on the planet. Gross means what he says. I'm guessing that Gross thinks that the US will NOT ACT until the crisis is actually upon us. The crisis that I believe Gross foresees is a collapse of the US dollar at a time when no foreigner will want to buy Treasuries. In anticipation of such a disaster, Gross has eliminated all US Treasury bonds from his huge, multi-billion dollar fund.


I ask myself, "Is this our fate? Is Congress going to allow the dollar to crash, will Congress, through its procrastination, allow the US to lose its greatest advantage -- the reserve status of the US dollar? Could this really happen? A collapse of the dollar is too grotesque to even contemplate. Yet I am definitely considering that such an horrendous set of circumstances could occur.


I've shown chart after chart of the US dollar. I've shown how the Dollar Index has been violating support levels. To refresh your thinking, I've included an up-dated chart of the US Dollar Index (above). What we see here is a giant head-and-shoulders top with a right shoulder that is in the process of breaking down.
More Here..


65 comments:

  1. Entitled

    ALL these MILLIONS of special interest groups are about to find out what founded this country.

    Entitlements are NOWHERE in the constitution

    High on the list of the annointed one, maybe - reality?

    No way No how - sorry you community organizers; time to get your hands dirty and do something of VALUE - like maybe MAKE something! WOW! now there's a novel idea!

    ReplyDelete
  2. Got this off the hot sheets...

    http://www.youtube.com/watch?v=DIxSiNn2Je4

    You guys better click on The Ready Store and get your orders in now... Oh and support this site's owner.

    What he's posting here could save your life. Don't be stupid. This hyperinflation due hickey is real doods and doodettes.

    Take is serious!!!

    ReplyDelete
  3. I think whats going to happen is a massive short squeeze. The stock market is going to crash HARD and the USD will take all shorters by "surprise".

    ReplyDelete
  4. The sooner the better.

    ReplyDelete
  5. Social security is not an entitlement, it would be fully funded if politicians had not robbed from it and that started with Ronald Reagan!! How about we end three wars and close 700 military bases?? Screw Bill Gross he will just take his billions that he ripped off from the bond market and move to an island somewhere.

    ReplyDelete
  6. Stock market crash HARD is exactly correct...OVERNIGHT! When you get up in the morning, pour the $8.00/lb. coffee into the coffee maker, turn on the radio and you will hear everyone trying to talk at once. The stockmarket has gone to ZERO. That is how it will unfold- My guess is by this summer 2011.

    ReplyDelete
  7. gold to infinte and beyond!!!

    obama will be in hawaii talking how 50000 mcdonalds jobs have saved america

    thiers actually in our local paper the jobs section is called jobs
    in the jobless recovery
    i live in westchester ny can you belevie this bull shit
    we are so screwed
    be prepared because you are sold down the river
    off to the slave trade

    ReplyDelete
  8. America was a giant unproductive of internal profits in physical commodities manufacturing or even real profits Ponzi scheme ecomomy .

    A military war backed consumer services based economy ,where wealth was measured in fictional paper value.
    America was living on a Foreign credit supply that purchased Treasury bills and $ trillions in property bond investments, allowing the illusion of a strong dollar and ramped up share and property bubbles of fictional value.
    The main investors in dollar denominated debts were export of wealth from trade countries China,Japan and the OPEC Oil sheiks and other third world elites.
    Its dollar hegemony system profitability and decades of foreign trade deficits were financed by this foreign investment supply and transfers of wealth from other countries , including imported cheap labor created low priced commodities ,sold often on banker created fractional reserve credit and financed internally by massive government deficit spending stimulation by military Keynesian for wars to protect the dollar hegemony sytem in world trade and finance for cheap oil .
    As well as for financing government services including bribes and subsidies to an unproductive of real profits labor aristocracy with income supplement subsidies and welfare dependency.
    Americas own consumer goods industry had entered the ‘sundown ” stage , most of the remaining industry was military related and subsidized by the deficit spending. In the end REAL internal US profits from wealth creation were non existant they declined as industry and jobs were exported from high waged America to the Third world by capital .

    The finance sector profitability in the end was from selling Trillions of dollars worth of Dud bonds and ‘innovative” derivative bets ,pre- crisis this amounted to 40% of all profits and 40% or so of the sharemarkets value.

    The Fed “printed” or digitaly created credit money as $ debt for government to sell to bondholders. Creating a huge national debt in Treasury Bills for the taxpayers to pay the dividends on, out of any governments future tax revenues.
    These Tax revenues are declining and the government is unable to pay these dividends without even more deficit spending to keep up the dividend payments on its debts.
    In order to get out of debt problems it insanely creates more debt by the Printing press thereby devaluing existing dollars!


    This system dependent on foreign supply of credit that had turned into a Giant Ponzi fell apart in 2007 –2008, as the credit supply buckled and crashed . Beginning with the collapse of the Property bubble, with first ,the nationalization of Fannie and Freddie and then sub prime mortgage market as America government commercial and private debts could not maintain dividends and interest payments that had kept the Ponzi fed.

    Entitlements
    The banking sector and bondholders naturally claim that after all this profitable “innovative” financial system that they had built on paper dollar hegemony credit entitled them to any profits that ‘they” created .They have a sense of entitlement and claim that after all even though their past losses were socialized in a financial coup that they will somehow be able to restart the great ponzi “recovery” soon, as long as the government keeps supplying them with trillions more $ in interest free bailout money!
    As “profits” mainly derived from consumers credit supply and cheap finance for the property markets mortgages were huge in recent years , particularly in the finance sector and from retail and wholesale profits on the imported cheap labor commodities sold I Wall Mart ,this highly overpaid labor aristocracy has the illusion that it is actually super productive!

    As a result ,they too have a sense of entitlement and cannot understand why their own subsidies are being cut because of the prior claim of the bankster sector to entitlements to all government printed paper largesse .

    ReplyDelete
  9. Total collapse is only a matter of time.

    My brother will listen but not act when it comes to converting his abundant cash (401k) into something that will hold its value AKA gold/silver. Someday he will wake up and understand his 401k is WORTHLESS!

    I have enough cash to pay my bills for 6 months, everything else is invested in PM's like gold, silver, lead, .45 caliber lead, .223 caliber lead, 12 gage lead, composite metals that take the shape of rifles, handguns and shotguns. Additional investments are in non-perishable foods. When the day comes when it will be nearly impossible to buy a firearm, I'll be in good shape.

    Someday very soon, it will be nearly impossible to purchase the lead-based products I mentioned above. Better to buy it now, than wish for it later.

    My car is 18 years old.

    I do not own a big screen LCD TV, what good will it do after the collapse? I'd rather invest the same amount of cash into a good bolt action rifle.

    I do have a 2,000 watt generator

    I don't have Cable TV. I don't watch TV. Why voluntarily submit to mindless propaganda? Obozo says "all is well, the jobless numbers are getting lower by the month".

    By the way, I used to buy 100 rounds of 12 gage ammo for $20.00, that same ammo is $23.00, yea, inflation is for real folks...

    ReplyDelete
  10. To correct a comment-it was President Johnson that put the Social Security Trust Fund into the general fund and also added Medicare and Medicaid. Over the years Social Security has had a constant surplus and Congress has borrowed over 1 trillion dollars from the fund leaving IOU's. Currently, SS is a pay as you go system but by 2016 revenue will decline requring withdrawl from the fund. There is nothing but IOU's in the fund. Rather than calling seniors greedy and demanding cuts in benefits we should demand the funds be paid back or bailed out. Pay back the IOU's and put the blame where it belongs. Congressman and Presidents who squandered peoples retirement money to fund pork and wars.

    For info on the history of Social Security--
    http://en.wikipedia.org/wiki/Social_Security_(United_States

    ReplyDelete
  11. Exactly, this is money TAKEN from our paychecks automatically without our choice in the matter AND it will never be paid back. Entitlements my ass. And if the paying out continues it will merely be taken out of us in a different way! Does anyone see whats going on? We are a slave labor force and they take our wealth before our eyes, and people have their never to blame the individual. What a farce!

    ReplyDelete
  12. I agree. I like how they try to sell social security as an entitlement when everyone who works is forced to contribute. They make it sound like it's not your money. They robbed SS to fund other "programs" and now there's nothing left. So now it an entitlement? Why doesn't anyone stick up for themselves in this country? They made you pay into it since your first job and now its an entitlement. Laughing.

    ReplyDelete
  13. Just because working people were forced to contribute for their own social security insurance out of their paycheck , this vague “contract” means nothing.

    Did you think the USA was some sort of socialist or rule of law country or something ?

    As the first comment says:

    “Entitlements are NOWHERE in the constitution.”

    So there!

    The government has no constitutional responsibility for its past extortion.

    Of course bailout extortion for socializing the losses of capitalism are nowhere in the constituion either, buts that’s all water under the bridge now.

    There were of course other necessary programs that needed support ,wars to run etc, and without the social security fund robbery , how would the subsidies for the military industrial and financial sectors keeping America profitable have been paid ?

    You probably wouldn’t have had a job anyway without this little extra disguised patriotic tax subsidy for ensuring capitalist profit.

    ReplyDelete
  14. 4:02, How is the bailout of the banks "water under the bridge"? We havent even felt the worst of it yet. Inflation has only started. You comments sound personal. Not only would people have jobs, but they would have more money in their pockets. You sound like a drunk and you posts are uneducated. SO THERE!

    ReplyDelete
  15. "Fasten your seatbelts, it's going to be a bumpy ride!"

    ReplyDelete
  16. Greed is not goodApril 6, 2011 at 10:40 AM

    Please help the banksters
    Put them out of their misery
    Buy Silver Stop the insanity.

    ReplyDelete
  17. Stop handing out social security to a bunch of hangerons that never paid a dime. SS has turned into a politically correct welfare program.

    ReplyDelete
  18. 4:02, How is the bailout of the banks "water under the bridge"?

    Its "water under the bridge" because it has ALREADY been paid into the banksters pockets amd it is not going to flow back to Americans exept in the form of devalued dollars that have been devalued by inflationary money printing .

    The Money has been spent by government acting like a drunken sailor handing out money to the whores on Wall St. Its reality is now only its "double existence" as Treasury bills as a part of the National debt to bondholders still to be paid for.

    The future Social security payments are only theoretical future obligations of government and owing to the fact that the national social security welfare fund savings has already been spent and is only now mostly a collection of IOUs and falling current incomes .Obligations that the government cannot possibly repay to meet its theoretical and moral obligations , owing to the fact the above national Treasury Bill debt is a sovereign debt.

    Sovereign Debt has first call for payment from any future tax revenues or its a national default .

    The theoretical obligations and promises for social security benifits are way down on the bankruptcy list of Government creditors.

    you might get a few cents in the dollar.

    But what cannot possibly be repaid will never be repaid.

    ReplyDelete
  19. 7.46
    "Stop handing out social security to a bunch of hangerons that never paid a dime. SS has turned into a politically correct welfare program."

    Yes ,Poor Treasurer Geithner had trouble with paying his tax dime too.

    But ,do you mean its more "politicaly correct" to bail out corporations like GE that make Billions in profit and "do not pay a dime" in taxes?

    Well , I suppose system hangerons like that ,or wall st banksters with government subsidised million dollar bonuses , dont need social security ,or income supplements payments as well !

    And resent paying for those who do!

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