Protecting Your Financial Self: Internet Edition

Posted at 1:36 AM (CST) by & filed under General Editorial.

Dear Friends,

How many times have I warned you that FRAUD is rampant in gold storage, gold deals and internet financial anything.

I predict billions will be lost by gold investors who sent money to people just because they like what they write, like the pay in the USA and get gold somewhere else deals or are simply to lazy to do what is so easy and requires no agent.

I have told you not to leave a penny with any coin dealer, to distance yourself from all financial agents and not to deal with internet financial anything.

Did you listen? Many have not!

If you did not and have gold in anything like this get your gold or your money tomorrow.

FORGET EXCHANGE TRADED FUNDS.

Buy your gold on the Comex at the world gold price and take delivery out of their warehouse.

Your only insurance is gold in your hand. Do what I have done.

Respectfully yours,
Jim

AUDIT AFTER GOLD DEALER’S SUICIDE SUGGESTS CUSTOMERS LOST MILLIONS
By ROBERT J. COLE
Published: October 5, 1983

Some $60 million worth of gold, silver and platinum sold to thousands of individuals and then supposedly stored in Rocky Mountain vaults may never have existed, an investigation suggested yesterday.

The possibility emerged in an audit conducted by the accounting firm of Touche Ross & Company in connection with the suicide last Wednesday of Alan David Saxon, 39-year-old chairman of Bullion Reserve of North America, a gold dealer with offices in Los Angeles, Dallas and Hong Kong.

Bullion Reserve has 30,000 to 35,000 customers. If the missing assets cannot be found, most of their investments may be lost.

Vaults Near Salt Lake City

Lawyers for the company said the audit showed that a depository, owned by Perpetual Storage Inc. of Salt Lake City and buried 200 feet in a nearby mountain range, contained only about $900,000 in bullion and coins. Another $140,000 to $150,000 worth of coins were found at Brinks Inc. of Los Angeles, another Bullion Reserve storage center.

The discovery, made over the weekend, prompted Bullion Reserve to file a bankruptcy petition Monday in Los Angeles, seeking court protection from its creditors.

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Jim Sinclair’s Commentary

Do this and gold goes to Alf’s numbers.

I rate the probability of the following occurring at 10 out of 10. It is called global hyperinflation.

This form of hyperinflation, a currency event, will occur by mutual panic if not as a plan of last resort.

This mutual panic and/or plan of last resort has a time window of on or before January 14th, 2011.

U.S. dollar devaluation on its way
Posted: February 02, 2009, 4:01 PM by Diane Francis

In 1992, I was given what became my favorite hotel bill keepsake when I stayed in Mexico City and was charged one million for a brief business stay.

It wasn’t a mistake. That was one million pesos and the Mexican peso was becoming worthless. By 1993, then-President Carlos Salinas de Gortari stripped three zeros from the currency and renamed it the Nuevo (or New) Peso.

The transition from worthless to one Nuevo Peso to one U.S. dollar was done in three years from January 1, 1993 to January 1, 1996. The word "nuevo" was removed from the currency and it returned to be called "peso".
Now it is 2009 and what appears to be looming, according to one authoritative press report this weekend, is a massive pre-emptive devaluation of the U.S. dollar as Team Obama readies itself to announce the “Big Bang” – a gigantic bailout of the frozen U.S. economy involving trillions of dollars.

So far, Washington has allocated US$750 billion for banking rescues and another US$825 billion for job creation projects. But that’s nothing.

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