Friday, August 14, 2009
Nonsensical Economy & Champion Greenbacks
Tuesday, February 17, 2009
It’s Getting Ugly: Economist Says Hoard Gold & Scotch
Williams predicts hyperinflationary depression will mean a $100 dollar bill is worth less than toilet paper
Paul Joseph Watson
Prison Planet.com
Tuesday, February 17, 2009
Respected economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.
“Three or four years into the future I think we could be in a hyperinflation, within the current year you’re going to see much higher inflation than most people are looking at,” Williams told MarketWatch.
Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.
“This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it,” he added, advising that people buy physical gold and assets other than the U.S. dollar.
“Then when the hyperinflation hits you’ll see disruption of normal commerce, you won’t have enough $100 dollar bills to buy what you want,” said Williams, adding that items to barter with, such as a bottle of scotch, would be more valuable than actual cash, even in large quantities.
Williams said that such items should be procured now in bulk so people had some means with which to barter and get them through rough times.
At least as far back as April 2008, six months before the collapse of Lehman Brothers and Bear Stearns, Williams predicted that the world economy was entering a phase of “hyperinflationary depression” that would peak in 2010.
In a hyperinflation special report, Williams said that the U.S. was on an irreversible course of “financial armageddon” that would likely lead to “extreme political change and/or civil unrest”.
Top trends forecaster Gerald Celente has echoed Williams’ advice, remarking recently that putting food on the table will become a primary concern over buying gifts at Christmas.
Watch the clip below.
http://www.prisonplanet.com/its-getting-ugly-economist-says-hoard-gold-scotch.html
Research related articles:
- Another Prominent Economist Forecasts Depression, Says Gold To Hit $2000
- Hyperinflation Catalyst For $2,000 Gold
- Kiener: Gold Prices To Double On Paper Market Default
- Gold up 2 percent on firm euro, oil
- In times of crisis, never forget the value of gold
- Blatant Banker Manipulation Of Gold Prices
- PhD Economist and Dean of Business School: Gold Prices Manipulated
- Gold prices ‘could double’ over the next few years
- No Mass Mania for Gold Yet - Less than 1% of Public in Western World Have Invested in Gold
- Gold Advances in London as Dollar Drops, Crude Oil Strengthens
- GOLD Separating from the US DOLLAR-Banks insolvent
- Gold Posts Biggest Monthly Drop in 28 Years as Dollar Climbs
Also read:
Ron Paul: Government Spending Driving Us Into Depression
Warns unread stimulus bill will prolong the agony
Texas Congressman Ron Paul has slammed the stimulus bill, passed by the House and Senate last week, as a blatant continuation of the destructive economic policy that caused the financial crisis in the first instance.
http://www.infowars.net/articles/february2009/170209Paul.htm
Thursday, January 29, 2009
GOLD, WHISKEY, AND CIGARETTES
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
As you read in yesterday's A-Letter, our Publisher and Sovereign Society Executive Director, Erika Nolan, is touching base with our contacts at Swiss and Austrian banks to see how they're faring amid today's global crisis. But remember that Erika isn't just talking to run-of-the-mill commercial banks like we have in the United States. Among the sophisticated operations run in the offshore-favorable jurisdictions of Austria and Switzerland, she's also touching base with a few storied private banks.
These banks operate on an invitation-only basis, they back all bank deposits with their own money, and they segregate your assets into a private cell, unaffected by the goings-on of the bank or even other accounts. But more on that later in the week.
Today, she picks up where she left off yesterday...in Zurich and on the way to meet some of Austria's finest bankers...
"After a very formal breakfast - served on china and with silver - I headed over to the Austrian bank that had kindly invited me."
"While the banking crisis flared up in nearly every country, private banking has weathered the storm just fine. Now it seems that the "old school" investment strategies - no leverage, no hedge funds, no �creatively structured' baskets of God-knows-what - has become cool again. I'm talking about investments that focus on value, hard assets, and most importantly, return of capital. Those are the type of investment strategies that private banks have catered to and based their reputations on for decades and centuries."
"We met with everyone...the senior portfolio managers, the Senior Vice Presidents in charge of relationship management and business development...and of course, the CEO and even one of the bank's Board Members."
"I quizzed them about the future of the euro...was it doomed to head lower or would it make Europe the shining star? The answer was mixed. "You know, the weak countries "such as Ireland, Spain, and Italy could pull out of the euro so that they can handle their economic situations freely," said Patrick. "This would strengthen the euro. Of course, the flip side could occur and the strong countries like Germany and France could pull out of the euro...leaving the euro in a bad state. But, regardless of what may happen, it's clear that there is a lot of risk in the Euro zone right now." Patrick added, "I think we could see currency devaluation across the board and this will bolster commodities. But, at the moment, if I had to pick one currency I think my pick would be the Norwegian kroner. The kroner has solid backing with its huge natural oil resources and the large sovereign wealth fund. Oil prices will rebound and as long as the Norwegians can control inflation, they will be sitting pretty."
"Conor chimed in... "The real question for the euro zone is what will happen if Ireland can't prop up their banks without help from the European Monetary Union? Will they jump in to bail out Ireland? What precedent will this set? And, will the German tax payer really want to chip in more to save his EU brother?" With this kind of nervousness in the markets...our conversation took a logical turn. We turned to gold."
"Everyone at the table agreed that gold is the only real hedge against the unknown and upheaval. The bank said they are getting calls on a daily basis from clients wanting to buy physical gold - be it in coins or in 12oz bars. And, most of the bank staff is adding gold to their own portfolios...just in case they have to buy bread, milk, shoes in a world where currencies, as we know them, are worthless. But, another suggestion was offered."
""I know Austrians that to this day buy cigarettes and whiskey every time they come through the duty free shop on their way back from a holiday. They have several cases of whiskey now...many cartons of cigarettes...stored in their cellar. They remember the days when you had to barter for bread...and a few cigarettes and half a bottle of whiskey can go a long way when you can't get change for your gold coins.""
"Hmmm...cigarettes and whiskey. I had never considered it, but I have to say it could be good advice. I am catching an early flight to Zurich tomorrow morning, but I may swing by duty free before I hop on the plane. I wonder what a bottle of whiskey will cost me?"
"Interesting times...until tomorrow from Zurich."