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Why Banks & US Treasury Warn Virus Will Wipeout Customer Accounts – The warning included threats that “the consequences of cyber incidents are serious. When credit card data is stolen, it disturbs lives and damages consumer confidence. When trade secrets are robbed, it undercuts America’s businesses and undermines U.S. competitiveness.”
Guass, which is an online banking surveillance virus, has the capability of electronically transferring information out of customer accounts to be redirected to another location. The banking industry, who is now threatening the wipe-out of customer accounts, would be dramatically affected by Gauss were this virus to cause every banking customer to become insolvent overnight.
IRA/401K Nationalization (Newswire.net — December 20, 2013) Portland, OR — Currently the plan is for the government to nationalize retirement accounts like IRAs, 401Ks, pensions, 403Bs, etc. in order to force you to use a portion of your retirement wealth to purchase U.S. government debt – debt that will ultimately default, as it is not possible to sustain our astronomical debt nor the deficits that create it.
US Bill “HB5337” is where you will find the plan to nationalize retirement wealth.
On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. This 401(k)/IRA de-privatization is the brainchild of Teresa Ghilarducci, whom through funding from the White House and the Ford & Rockefeller Foundations engineered a new “Regulatory & Tax Incentive.” The purpose is to force Americans to convert their Retirement Accounts into Government Managed accounts.
This plan to nationalize private 401K and IRA retirement accounts is being publicized as the government protecting the public against business failings or state bankruptcies.
However is nationalizing the retirement plans of American citizens and put them under control of the Federal Government really “protection”.
In February of 2012 The U.S. Senate, under the leadership of Democratic Senator Harry Reid, held hearings that resulted in the Conclusion that privately managed 401K’s and IRA accounts should be converted to Government managed accounts.
In fact the Obama Administration has included moves in the general direction of taking control of Americans Retirement plans in their 2013 budget proposal. They want to force us to use our retirement money to fund their irresponsible spending.
Your cash, your retirement funds, your bank deposits and your investments are at huge risk of being confiscated by the government through some contrived reason or another.
THERE ARE OPTIONS I’D LIKE TO SHARE WITH YOU
Now onto the breaking news that matters….
“Golden Crosses” Poised To Create Explosions In Gold & Silver – Despite the pullback, the gold and silver markets are poised to move significantly higher over the medium to longer term. There is also a fascinating chart from John Murphy that is included. These are the types of charts that the big banks follow closely, as well as big money and savvy professionals.
Sticking around for $50-$100/oz silver – Precious metals characteristically start going up after a prolonged decline, yet early in the reversal they rarely inspire any confidence because the last dozen or so similar moves fizzled after a 10–20% move. This could be one of those. Silver is at $21 per ounce ($21/oz) now, maybe next week it will test $18/oz again. It’s anybody’s guess but I believe that toward the end of the year we’ll probably see higher numbers—maybe substantially higher.
My outlook for silver for the next two or three years is somewhere between $50 and $100/oz. It could be shorter; it could be longer, but that’s not critical. I’m going to stay with it for the cycle; it could be another 10 years to the end of the cycle. I do not expect this next leg to be final but I expect it to be a substantial run comparable to 2010–2011 when silver went from roughly $10 to $49.50/oz.
The next move could go from about $20 to roughly $100/oz, but that will take time. Am I going to take money off the table along the way? Maybe in some stocks that got ahead of themselves or that are not responding to the price move. But I would not touch any of my physical silver.
The Best Opportunity of Your Life: Silver – There’s a situation in the silver market now that we absolutely must take advantage of. “It is the best opportunity to buy silver in over a decade – and possibly one of the best times you will ever see in your life.”
And based on Jim Rickards’ conclusions about inflation and deflation, I want to own precious metals for the long run. The upside potential – if Rickards is right – is tremendous. And today is about as attractive an entry point as you will get on silver… Don’t miss it…
Jim Sinclair: Long term cycles in gold are in the process of turning long term positive. That is fact. There is a strong possibility that this is the last take down before gold trades at a new highs.
Clearly we are witnessing the popular delusions and madness of the crowd in general markets and today in the reverse in the gold price. This will make new highs after the failure of this clearly false price construct of this morning’s illiquid time period.
Gold Bottoming; Higher Inflation Ahead – Gold is now finally bottoming, says Ronald Stoeferle, publisher of the definitive annual report, “In Gold We Trust.” In a recent interview with Financial Sense Newshour , the widely followed gold analyst—once named 2nd most accurate by Bloomberg—provides an excellent view into the mental hopes and fears of most precious metals investors right now.
With 2013 being a great year for stocks but absolutely devastating for the yellow metal, Stoeferle believes that the last of the gold bulls have finally thrown in the towel and that we are now very close to a bottom.
“A lot of technical damage has been done to the price of gold,” he says. “A lot of trust has been destroyed and it just takes a while to correct the situation… Therefore, I think at the moment we are probably at the very end of this bottoming process.”
If You Don’t Buy Gold Now, You’ll Hate Yourself Later – Over the next couple of years, you could make triple-digit gains in one of the most beaten-down commodities on Earth: gold. No, it won’t happen overnight. But as I’m about to show you, a bull market in precious metals is almost inevitable. And before the run is over, we could see prices double… or more.
Here’s the problem: prices are so low that producers are losing money on almost every ounce of gold they pull out of the ground. In the industry today, it costs about US$1,650 to mine one ounce of gold. However, at today’s spot prices miners can only earn US$1,300. You don’t have to be a business expert to figure out that this isn’t a good business model.