[As the New Year approaches it is becoming more and more imperative that we] find our internal inner joy…[and] maintain our positive perspective…while the external world around us deteriorates thanks (actually that should read “no thanks”) to all those…who caused or enabled the current financial and economic trauma. We must face up to the fact that the current financial path of the United States is unsustainable and will probably not result in a “Happy New Year” for most Americans in 2013. As such, we must do something utterly different. Words: 620
So says GE Christenson, aka Deviant Investor, (www.DeviantInvestor.com) in edited excerpts from his original article* entitled The No-Thanks-Giving Parade.
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com(Your Key to Making Money!), may have further edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Christenson goes on to say, in part:[Below is my list of all those I wish to send a heartfelt “No Thanks” to:]
- The politicians who borrowed and spent Other People’s Money – and produced nothing lasting except debt….
- The military who turned wealth and value into a decade of death, destruction, and debts….
- The Federal Reserve for creating all the dollars that enabled the excessive spending on warfare and welfare and left Americans with the debts. It was profitable for the bankers and major corporations, but not for the majority of Americans.
- The creators of the mortgage-backed securities and their derivatives. Those weapons of mass financial destruction enabled a housing bubble and a financial crisis, and the result was millions of foreclosures and lost homes.
- The politicians who arranged for the bailouts, at taxpayer expense, of all those banks, AIG, Fannie, Freddie, the FHA, and many others.
- The lobbyists who worked frantically to preserve the highly profitable status quo for the political and financial elite.
“When the present path cannot possibly lead to success, regardless of the labor and treasure poured into the effort, then risking the unknown by trying something different is the only way forward.” (Charles Hugh Smith – November 20, 2012)
The current financial path of the United States is unsustainable, so we must do something utterly different. [Read:
- U.S.’s Runaway Financial Train is About to Destroy the Status Quo
- Take Note: Don’t Say You Weren’t Forewarned!
- Commentary on QE3 Exclaims: “We Have Been Warned!”
My suggestion is that we be honest and admit that:
- Continuous creation of more debt, both public and private, is not the answer.
- The VALUE of Social Security and Medicare benefits will necessarily decrease. Perhaps the number of dollars in our monthly Social Security check will increase slightly, but if it only buys a few loaves and fishes and a tank of gas, its VALUE has decreased. Perhaps Medicare benefits will be rationed or severely limited – thereby reducing their value.
- Taxes will increase.
- New taxes will be imposed. We might see a “Carbon Tax” or a VAT.
- Military expenses will decrease – not because anyone wants a reduction, but because they must.
- Inflation in consumer prices will increase – and it will get worse.
- The standard of living for most Americans will decline. The purchasing power of the dollar will substantially decrease in the coming years.
- “Gold is money. All else is credit.” J. P. Morgan to Congress 1912.
- Things you NEED will cost more – food, energy, transportation, medical care. Things you want will cost less, relatively speaking.
- Paper money comes and goes throughout history. In the 21st century, it appears to be “going.”
- 2013 probably will not be a “Happy New Year” for most Americans.
The two most influential heavenly bodies are the golden sun and the silver moon. The two most important investments for this decade are gold and silver. The true gifts for Christmas and New Years are silver and gold. Let’s give thanks for the individuals who spoke with wisdom and truth about the lasting value of gold and silver: Jim Sinclair, Richard Russell, and many others.
Other Recent Articles By the Deviant Investor:
People riding a runaway train can party and remain oblivious to the fact that the train is about to crash into a huge obstacle. Our runaway financial train is about to destroy the status quo as it crashes into the obstacle of mathematical consequences – the inevitable financial train wreck. “If something cannot go on forever, it will stop.” [Let me explain.] Words: 974
There are many predictions for the price of silver. Some say it will crash to nearly $20, and others proclaim $100 by the end of 2012. The problem is that some predictions are only wishful thinking, others are obvious disinformation designed to scare investors away from silver, and many are not grounded in hard data and clear analysis. Other analyses are excellent, but both the processes and analyses are difficult to understand. Is there an objective and rational method to project a future silver price that will make sense to most people? Yes, there is! [And here it is!] Words: 1071
I am not predicting a future price of gold or the date that gold will trade at $4,000, but I am making a projection based on rational analysis that indicates a likely time period for gold to trade at $4,000 per troy ounce. Yes, $4,000 gold is completely plausible if you assume the following:
Don’t let the inflation monster devour your savings and retirement. It will unless you take positive steps to protect your savings and retirement. I have the answers as to: •why inflation occurs, •why your purchasing power will decrease, •what happens if you don’t protect your purchasing power, and •how to protect your savings and retirement.
It is relatively easy to predict further commodity price inflation as a result of the massive money printing going on worldwide and that hard assets, not paper assets, will help protect purchasing power but it is much more difficult to project where else this money printing leads and to what extent a crash is inevitable. What is the endgame? Will it be another financial crash such as in 2008 or will it be a more destructive financial and economic crash that causes a severe but temporary disruption in the delivery of goods and services? Words: 1470
QE3 looks like a desperate act to feed money to large banks, offload MBS toxic waste from their balance sheets, devalue the dollar against houses, commodities, and other currencies and create significant collateral damage in the form of consumer price inflation according to a number of respected economists and critical thinkers on the subject of QE3. [Let’s take a look at what they have to say.] Words: 1661
An objective and reasonable estimate for the price of gold at the next intermediate peak (estimating 2013 – Quarter 2) is $2250 to $2550 per ounce… This is not a prediction based on wishful thinking and hope, but a best estimate based on rational analysis of data back to 1975. The actual price for gold at its next peak could be higher or lower, and the peak might be earlier or later, but this price range and approximate time is, by this analysis, the most probable. Words: 1682
Most of us will sell our gold sometime between now and never so what events will probably indicate that the time has come to sell at least some of your gold? Words: 910
I have an IRA. How can I invest in gold and silver? It is quite easy! Yes, I am talking about actual physical gold and silver, not “paper” gold, or certificates, or paper promises. Words: 621