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I see the POG as the clinical thermometer for the entire financial system.
Midas excerpt:
Infamous date in history.
To all; I know that many of you who read my musings are jumping up and down with joy today, Gold and Silver have exploded and the mining indices have FINALLY broken out above the level we reached way back in May of 2006. Happy days are here again, right? Well, my sentiments are "may God help us all"! The recent news of massive foreclosure fraud and thus the fact that the entire mortgage backed securities market is now not even suspect, it is hollow to the core, means that the ENTIRE Western world's banking system is GONE, KAPUT!
I wrote back in 2008, "It's Over" which in reality it was, the only remaining option at that point was for the Treasury to put it's less than pristine balance sheet in play which they did. Now there is nothing. Nothing at all that Treasury can do which leaves THE only possible policy option left on the table, the Fed MUST destroy in entirety the U.S.Dollar. The banks that were supposedly "saved" back in 2008 by TARP (which we humorously were told was "over" yesterday of all days!) are now MORE broke than they were back then! ALL of their mortgage securities and ALL of their "cross CDS swaps"with other banks who hold mortgage backed securities are now SMOKING BLACK EMPTY and HOLLOW HOLES OF DEFAULT, period!
The fact that paperwork has been lost and in some cases forged, mortgages have been sold 100 times over and may still exist in 50 different "mortgage pools" means that NO ONE, NOWHERE has any idea of who owns what! If you cannot put this 2+2 together then whatever evil smacks you in the face, you deserve! Debt underlies the entire Western banking system, debt of all shapes and forms is now tainted and infected no matter who the issuer is. By extension, the Dollar since it is a creation of debt is now beyond burnt toast, it is smoke!
We will look back at October 4th and 5th and see that these 2 days marked the beginning of the disastrous end of the Western debt based and thus fiat monetary system. Gold and Silver are just now opening their mouths and telling us this. But the stock market is up? Yes, there are those that believe the coming hyperinflation will be beneficial to stocks, I say maybe, maybe not. I still believe as history has shown in the past that an equity panic precedes the point in time where stocks go up because owners of cash dump it for anything and everything. In other words, ANYTHING is a better place for your capital than a currency that is going to zero.
Of course the biggest loser in all this because it is THE biggest market of all is the U.S. Treasury market. Gold and Treasuries CANNOT both go higher in the long run, I will say that the Treasury market is wrong and Gold is correct simply because one has a fraudulent government behind it and the other has Mother Nature and her natural laws behind it. When it comes to who you should trust, trust your gut sense that Mother Nature is not convoluted nor a fraud, she is neither.
So folks, do not jump for joy today as it will be seen in the future as the beginning of the end. It is the end of finance and business as we have all known it all of our lives. It is the end of the banking system, the end of the Dollar, the end of Treasuries, THE END OF PAPER ANYTHING! Go ahead, don't believe me. Go on as if nothing has happened. You WILL have lots of company in a hell called bankruptcy, poverty, hunger and just plain ignorance. If you cannot see it now after this hammer has come down, you will never see it nor will you see the sledgehammer of complete collapse that is about to hit everyone right between the eyes.
Do whatever you can if you have not already prepared, as fast as you can because when this game stops EVERYTHING stops. ATM's, banks, distribution, government services, etc. etc.. You will be on your own and you will only "have what you have" and nothing more. Make sure you "have" ..."enough"! Regards, Bill H.
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