Silver News

The Mission Of The Silver News Surfer Has Always Been & Will Always Be - To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

May Health Wealth And Success Be Yours!


60 Year Market Veteran Says… US Is Bankrupt and Will Collapse

October 8, 2013 8:40 am est

The Mission Of The Silver News Surfer Has Always Been & Will Always Be – To Preserve Your Wealth, Protect Your Purchasing Power and Create Generational Wealth!

 

May Health Wealth And Success Be Yours!

On to the business of protecting your wealth…

Here we go again. The kindergarten class of 2013 is back in session and they are kicking and screaming.

White House openly threatens US default as debt fight escalates

Meanwhile, on the other side of the ocean, China & Japan are warning the US on the default…  rightfully so. They are only holding a couple trillion dollars worth of our debt and if we default, they’re coming down with us.

Now here’s a strong message from someone who has first hand experience in dealing with a society that has not only lost a bulk of their net worth through inflation, but has also seen poverty in record numbers: Former President Jimmy Carter said Monday that the income gap in the United States has increased to the point where members of the middle class resemble the Americans who lived in poverty when he occupied the White House.

A few weeks ago, I posted a story that asked – What has been the best performer since the 2008 crash? Ok, Ok, so people had to wait 5 years, but those who did were rewarded well beyond what they imagined.

On Friday, I posted an in-depth report on how physical gold & silver would benefit your IRA and some information from this little known powerhouse billionaire investor.

Yesterday, I posted some information from some of the world’s oldest market veterans and societies smartest minds telling us that the equities market was due for a systemic crash and not only did the 40-60 year veterans say it, but today, even Wall Street believes that these three charts could spell doom for the S&P

But hey… who the heck am I? I only research this stuff about 10 hours a day almost 7 days a week for the past 6 years.

I say that these so called “seasoned market veterans” who are saying the equities will crater… not correct, but crater; and that gold and silver will start to go up so fast it will take peoples breath away are full of it…

Nothing has happened yet and I believe they have no idea what they are talking about and I think we should all stay in equities, dump our hard assets and see what happens – What do ya say… Anybody with me?

Of course that was me being facetious – But here is a message I would like to leave you with today. If you don’t want to invest in silver and gold… Don’t. I would however recommend that if you have at least $2,500 in that savings account, CD or money market earning a whopping .60 cents a month; you should call me and buy 100 ounces of silver.

The reason? Because when all hell breaks loose (and it will) you will now be in my Rolodex as a customer and that will be a very important contact source for you to have.

The reason for that? Because once this collapse occurs,it will happen so fast it will make your head spin and you will do what everyone else will do and that is panic. Then when you are dialing the phone as fast as your fingers will go, you will end up getting nothing but busy signals.

However, if you take this minimum preparation approach, at least you know you have an account with The Silver News Surfer and I will always pick up the phone and make myself available for my customers, but I will not have time to play with new accounts.

Allow me to assist you in understanding these ever changing and challenging financial markets and more importantly, how you can profit on the upside potential and protect yourself from the downside risks….

Now, onto the breaking news that matters…

60-Year Market Veteran Says US Is Bankrupt & Will Collapse The Dow and the S&P are in the process of collapsing.  These averages are going to plunge all the way back to their 1982 trendlines.  This means we will see the S&P 500 fall all the way down to roughly the 600 level, which represents a nearly 65 % decline. This is going to be a massive wipeout

For those that are worried about gold and silver they need to understand that this is the time period when the metals will be making a massive move to the upside.  This will be a big-time move for gold and silver.  This is a duplication of what occurred in the 1970s.

This collapse in stocks is going to wipe people out, but at the same time you will be seeing this huge surge in the precious metals.  We are going to see the biggest move in gold, silver, and the mining shares, that we have seen during this entire bull market, and it’s starting right now.

Read More Here

Gold and The real change to watch out for – Have you ever noticed that investors are often only interested in buying some stock or asset when its price is going up? It’s as if a rising price is somehow validation that everyone else thinks it’s a good investment too. Of course, these types of situations often make the worst investments. If you buy when everyone else is piling in, you could very well be the last sucker to enter a crowded room before the music stops.

The opposite is also true. When an investment has cratered and the price has fallen through the floor, nobody really wants to buy. Realistically, the opposite should be true. And gold is an interesting example of this. After more than a decade of positive returns, many investors have abandoned their precious metals positions. The conventional wisdom says that gold is ‘finished’. After all, the dollar price is falling… so it must be a bad ‘investment’. Others, however, are looking at where gold is right now, where it probably will be a few years from now, and thinking that it’s a hell of a bargain.

Read More Here

Stocks Set To Plunge – Gold To See A Spectacular Surge – With gold and silver moving higher, and the Dow threatening to break the 15,000 level, today King World News is pleased to share the thoughts of one of the top strategists in the world, Robin Griffiths of Cazenove out of London.

Cazenove Capital is the appointed stockbroker to Her Majesty The Queen.  The acclaimed strategist warned global stock markets may now be set to plunge, but he also said that gold would see a spectacular surge as stocks cratered, and he even gave a price target.  Griffiths also had some fascinating comments about central planners and their artificial impact on major markets.  Below is Griffiths’ outstanding piece.

Read More Here

Dollar Collapse To Trigger Massive Bull Market In Gold & Silver – The Godfather of newsletter writers, Richard Russell, warned that the “US dollar is poised right on the edge of a cliff.”  He also issued this ominous warning, “if we get a sell signal on the dollar it will have international implications.”  This is an incredibly powerful piece with a legend who has been writing about the markets for 60 years, and he concludes by discussing what is going to trigger a massive bull market in gold and silver.

This is very important since as I’ve noted before, Ben Bernanke will not tolerate deflation.  Thus, this chart is telling us that tapering is not in the cards.  As deflation becomes more visible, I expect the world’s central banks to battle against it with ever-greater portions of quantitative easing.  This, of course, will set off a bull market in gold and silver.”

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How the gold price could double overnight in a major US dollar devaluation crisis – With the US Government shutdown last week weakening the US dollar across the board in global currency markets it is only too easy to read the relatively lacklustre performance of gold wrongly. For in a major US dollar devaluation crisis, like the one that would follow a failure to raise the debt ceiling on October 17th, gold would be king.

It’s a scenario played out perfectly in the penultimate chapter of hedge fund manager Jim Rickards book, ‘Currency Wars: The Making of the Next Global Crisis’. He envisages a series of ‘black swan’ events that trigger a loss of confidence in the US dollar precipitating a rush to get out of the greenback, But the gold price would be reset permanently higher, and $7,500-10,000 an ounce in old dollars is Mr. Rickards best estimate.

Basically the US dollar has to be reissued and reset to a new value based on a much higher price of gold. If this all sounds far-fetched then it is. But so was the subprime mortgage crisis before it actually struck and yet it happened.

Read More Here

Gold price is ‘bound to go through the roof’ – GOLD bulls have had it rough this year but many would have found solace in the Precious Metals Round Table web-based conference call and presentation held recently by Sprott Asset Management.

The bottom line? Hang on to your physical gold and gold shares because the point is fast approaching when the gold price is going to explode. That prediction is, of course, completely at odds with what has actually happened in the gold market this year, where the price has plunged from about $1,700oz to $1,200oz, before recovering marginally to just above $1,300oz.

Mr Embry says: “We are in the early stages of a classic monetary debasement. We are seeing more and more instances of where the physical gold does not seem to be available. The paper gold market will be seen for what it is, which is one of the greatest Ponzi schemes in history. “The paper market has been controlled aggressively by the central banks, the BIS (Bank for International Settlements) and the bullion banks. Investors have been presented with an unbelievable opportunity,” he says.

Read More Here