The day in 2009 that insolvency comes in the planetary form, you can be sure of only one thing: You will not know it.
Your government, whomever they are, will keep the collapse a total secret until you are completely wiped out by hyper-inflation and/or insolvency of your retirement plan.
You cannot trade your way to insurance. That concept is egomaniacal and downright stupid.
Own gold and gold shares or you will be the victim of your government and the media’s feeling that you are:
NOT WORTHY OF THE TRUTH
Revealed: Day the banks were just three hours from collapse
By Glen Owen
Last updated at 11:21 PM on 24th January 2009
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown’s Ministers has revealed.
City Minister Paul Myners disclosed that on Friday, October 10, the country was ‘very close’ to a complete banking collapse after ‘major depositors’ attempted to withdraw their money en masse.
The Mail on Sunday has been told that the Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.
Only frantic behind-the-scenes efforts averted financial meltdown.
If the moves had failed, Mr Brown would have been forced to announce that the Government was nationalising the entire financial system and guaranteeing all deposits.
But 60-year-old Lord Myners was accused last night of being ‘completely irresponsible’ for admitting the scale of the crisis while the recession was still deepening and major institutions such as Barclays remain under intense pressure.
Jim’s Outlook On 2009
Posted: Jan 26 2009 By: Jim Sinclair Post Edited: January 26, 2009 at 12:20 am
Filed under: General Editorial
1. Before 2009 is out the next major economic shock will become obvious. There is not one major funded retirement program intact thanks to the manufacturers and distributors of OTC derivatives. The unfunded ones are a total loss. Retirement in the future is totally out of the question. Many now retired will end up in the same situation as those trying to live off fixed income. Both categories are being culled from the human gene pool.
2. By my 68th birthday Obama will recognize his position as a bagged President, knowing then that the economic situation does not have any practical solution.
3. By July 4th, 2009 the rally in the US dollar will have become a simple hope for the lows to hold.
4. My long held targets of $1250 and $1650 for Gold that were once laughed at as outrageously high can now be laughed at for being painfully too low.
5. Only gold and related shares are insurance against the economic cataclysm now taking place.
Everyone is looking for where and when the top in gold will come. Will it be Jim’s $1650 or Alf Field’s $10,000 plus before it comes back down?
To put it nicely, you are all wrong. Gold is going up and STAYING up.
There is no top to look for because like all things people strive for, the top does not exist.
Gold will trade within $200 of a given point as a product of the Master of the Financial Universe, Paul Volcker, taking control when all this is totally out of control. He will instate the revitalized and modernized Federal Reserve Gold Certificate Ratio, not gold convertibility, and not tied to interest rates as an automaticity. Only then can Volcker put in place policy backed by the sitting administration that has a provable history of starting the change from deficit to surplus, his price of saving the world one more time.
The Gold mining business will then be the best business there is and the highest dividend paying monetary utility.