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…
Ever wonder if other people are thinking what you’re thinking? Ever wonder HOW MANY people are thinking what you’re thinking? Rest assured folks, you are not alone. These numbers speak volumes.
With all this fuss about the debt ceiling… Do you wonder how much they need and when we will hit the next one?
Changing the channel to other news, today at 2pm will be the release of the FED minutes from their September “no-taper” meeting. Lets see if the traders who sift through the report can find one reason to dip the prices of silver and gold.
We know what he said, it came from the horses mouth after his meeting, so the minutes are just another distraction for the markets today.
Also today, soon after the release of the minutes, Janet Yellen to be named Fed chair on Wednesday 3pm
What’s kind of interseting is that each time I finalize my report, even spell-check doesn’t recognize Obama
This is too crazy to be made up:
Extreme Hypocrisy! Obama Orders Federal Workers To “Make Life As Difficult For People As We Can” – A few days ago, an angry Park Service ranger publicly admitted that he and his fellow rangers have been ordered to “make life as difficult for people as we can” during this government shutdown. That Park Service ranger would never have received such an order unless it came from the very top.
Apparently the Obama administration plans to cause as much pain as possible until Obama gets everything that he is demanding. In many cases, it is actually going to cost far more money to put up barricades and use guards to keep Americans from visiting open air memorials, driving on roads, and fishing in bodies of water than it would to put up a “closed” sign and simply go home.
As you will see from the examples posted below, the Obama administration is being extremely spiteful and vindictive.
Now, onto the breaking news that matters…
Former US Treasury Official – President To Seize Total Power– If the United States were to default, it would be the end of the US as a superpower. No one in Washington wants to lose that kind of power, so I fully expect that at the last minute a deal will be reached. Now, in the event that both sides play a game of ‘chicken’ to the very end, and we are down to the last hours, and fears of a default escalate dramatically, I think one of two things will happen.
The first would be the Federal Reserve, on its own initiative, would simply lend the US Treasury whatever money it would need. You have to remember that the Federal Reserve lent to US and European banks more than $16 trillion in order to enable them to avoid default, or outright failure.
The second possibility would be that President Obama, because of laws that are already on the books, would have the power to declare a ‘national catastrophe’ and simply assume the leadership of the government. This gets Congress and the courts out of the picture. At that point there are no limits on the power of the President if he calls for a ‘national catastrophe.’
Don’t Believe the Lies – THIS Is the Economic Reality – Take a Look… Then Get Prepared –
Reality has become a big lie which most live in… the big lie that:
1) You can have something for nothing,
2) The government can support you and provide for your needs rather you providing for yourself…
3) The U.S. economy can generate enough economic growth and output that the owners of treasuries will get their money back with interest,
4) The dollar and treasuries, which are the reserves of the global financial system, are promises which are as good as gold.
The aforementioned is NOT reality, regardless of the words the Federal Reserve present. [The following charts illustrate just what IS reality. Take a look and then get prepared for when the —- hits the fan!]
From The Man Who Got It Right When He Said No September Taper, Greyerz says – Governments Will Start Panicking As Chaos & Crisis Accelerates – The outcome (of all of this) will be more debt, more printed money, and more misery for the masses. Remember that US debt was $10 trillion in 2008 when the crisis began and now it’s $17 trillion. And the Fed’s balance sheet was $900 billion in 2008 — it’s now at $3.6 trillion….
In the gold market we are now seeing major banks saying that gold is going down. Both Goldman Sachs and Credit Suisse pronounced that gold is a slam-dunk ‘sell,’ and (they said) it’s going down to $1,000. These guys get bullish when gold is high, and bearish when it’s low. They never predicted the long-term bull market in gold.
Of course this bull market in gold is this bear market in paper money. In my view we are now on the verge of breaking out in the precious metals and we will see a very strong rise starting soon, and continuing into 2014. My targets are still for $2,500 for gold and $70 for silver in 2014. The crisis is here. There is no solution. All we will see is governments panicking and throwing money at it without actually solving the problem.
Gold’s a slam-dunk buy in China as monthly imports top 100 tones again – China continues to find safety in gold. Its net gold imports from Hong Kong fell just 5% in August from the previous month, but were still above 100 tonnes for a fourth straight month.
“These are very strong numbers again. Gold demand from China remains brisk, offsetting weak demand in the West and confirming the shift in gold demand from West to East,” said Commerzbank’s Carsten Fritsch, who added that China’s consumption could stay above the 100 tonne mark in the coming months.
China is the No. 2 gold consumer in the world. What about the No. 1 buyer, India? Gold demand there could rise as much as 15% this quarter to 300 tonnes as pent-up demand following a good monsoon keeps the country on track for yearly demand estimated at 1,000 tonnes.
An Open Letter to Gold Haters: You’re Wrong – I’ve seen lots of commentary in recent months pointing to the past year’s decline in gold as proof that the spanl’s time in the sun is done. And if you’re one of those naysayers, keep reading – you’ve got some catching up to do.
But gold has a fundamental reason for its current price. And mark my words: Gold goes higher from here. Just as I disagreed with everyone who said the euro would die and the European Union would collapse, and just as I disagreed with everyone who insisted the Fed’s tapering would begin in September, I disagree with those who say gold prices will crash and that the U.S. dollar will, thus, outperform.
While gold has little statistical interest in inflation, it has great statistical interest in the dollar. The two, in fact, share a very tight correlation – as the dollar rises and falls, gold moves in the opposite direction. Indeed, take a look at this chart: