We are excited to introduce a new guest, David Haggith of The Great Recession Blog. He’s been an author for 35 years and brings us an interesting perspective today. Join us for a discussion on current events and the economy.
David gives us a bit of his background including the last near decade of his timely predictions. He watched the real estate bubble build right to the point of collapse. The US would have experienced massive collapse at the time had the Fed not begun the largest monetary creation experiment of all time. Speculation has driven the market as investors sheepishly anticipate more Fed intervention.
We discuss the coincidental actions of the Fed in the face of the coming crisis. Are the powers that be involved in nefarious engineering? Or are they positioning themselves for a failed utopian Keynesian dream? David argues it really doesn’t matter as all roads lead to Rome. The Epocalypse, as he calls it, is coming.
David thinks gold should be a part of everyone’s holdings but isn’t completely convinced on a shoot the moon price increase based on the fact central banks hold so much. He believes they will continue to use it to suppress the price. Perhaps the big question is, how long can they suppress it, especially in the face of rising demand from global monetary uncertainty?
One must ask the question, as Ted Butler has illustrated, why would JP Morgan amass hundreds of millions of ounces in silver? They are in the money business, not bullion storage. Regardless of their intention this is a statement that silver is money.
The sheer levels of money supply are enough to tell the tale. Looking at a chart of the money supply it becomes clear that with or without backdoor intervention, fiat currencies are doomed.
The discussed interview in which Alan Grayson grilled Ben Bernanke was in reference to $550 Billion in swaps to offshore banks, not trillions.
Those were on balance sheet swap activities. The trillions mentioned are suspected off balance sheet obligations. See the work of Jim Willie & Rob Kirby researching multi trillions in backdoor easing, click HERE for article.
A cashless economy is likely the way of the future. The governments and centrals bankers would love nothing more. We’ll see if the free people of the world allow it, or will the markets finally be ruled by honest people demanding honest money?