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SirJames
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Do Gold, Silver Prices Fall, in a Shrinking, Debt-distressed World?

- Julian D. W. Phillips - Gold Forecaster

I don't know why we don't use the term stagflation, even thought we are talking different sectors and different parts of the West. Some street-smart experts are now on record as saying that central banks and governments have two choices: continue with massive fraud or let everything implode. Politicians will obviously go with the fraud - because it gives them time. Articles in the MSM suggesting that fixing LIBOR is no big deal and part of "managing the system" astound me. Combine that with the Fed buying 70% of Treasuries at Auctions and Operation Twist placating the Chinese and Japanese who want to go short and out, if the USD loses reserve status, and what more do you need to know?

Global debt cannot be paid back - if I accept that the intention was simply to roll it over, and a lot won't roll over because of national or bank ratings plus ZIRP (even though it provides capital gains, if not interest), how long can central banks print and have the monopoly money accepted - even by those printing their own monopoly money?

The whole system is a criminal farce, and there is wonderful analysis here and elsewhere online that would be on target otherwise. In this environment, if you don't think like a fraudstar, looking for past market or human behaviour as a guide, you are walking dead.

It really doesn't matter how long they print or how long the EU gets away with their shell game - find the pea - under which shell - it's like awaiting a volcano. You know it will blow sometime, but not when.

If big money and large quantities of bullion in strong hands can impact value now - it is likely to be worse after the currency weakening or collapse starts (loss of reserve status could cost the USD 30-40%). I agree that physical assets in hand are all we have, but in a police state, we could still be high and dry. I also have a problem with bullion being posted in currency terms - spot prices are mostly paper. We - of all people - have to think in ounces or other weights. That may stop some of the silly panic when spot is held down.

I realize we need a market, but we won't have one after a bust, and maybe we should be getting our heads around that now. Gold, diamonds, artwork did not help Europeans much on their way to the camps. As for Tier 1 - maybe - when I see it. If tax departments will chase down barbers and waitresses for tips, I think they might well find a way to nail bullion holders too.

I'd like to see some thinking outside the box here. I'm not big on survival networks, but we may need liquidity for even 1 oz bullion. We should be giving it some thought. Just IMHO.

Commented 4292 days ago

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Beginning of the headline : Deflation/Inflation As global growth is being downgraded by the I.M.F.from 3.5% to 3.1% fears that the Eurozone is already in a recession and the U.S.is likely to enter one next year, are growing.As the world becomes more and more familiar with the economic and financial climate investors are realizing that economic life is far from simple and that growth is not something that governments or central banks can turn on or off... Read More

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