Economic update

[carlyincanada]

Great info, thanks!

This is startling too!

More than $4.5 trillion has been wiped off the value of equities worldwide since July 26. Markets are “extremely oversold,” Marc Faber, publisher of the Gloom, Boom & Doom report, said in a Bloomberg Television interview. The U.S. probably added 85,000 jobs last month, leaving the 9.2 percent unemployment rate unchanged, economists said before Labor Department data today that will cap a week of economic reports showing the recovery is slowing.

http://www.bloomberg.com/news/2011-0...ties-drop.html

[ashedfc]

The Greatest Wealth transfer in history: from the ignorant to the informed (an audio interview in 2 parts) must listen as an ideal use of 17min of weekend time

Part 1. http://www.youtube.com/watch?v=p3h63...layer_embedded

Part 2. http://www.youtube.com/watch?feature...&v=2qU23NkwLyk

[newb]

Spot price of silver falls but the cost of physical silver stays the same or climbs??..kinda reflects everything I`ve been reading about the manipulation of silver and how this senario is just the begining.

[ashedfc]

Spot price of silver falls but the cost of physical silver stays the same or climbs??..kinda reflects everything I`ve been reading about the manipulation of silver and how this senario is just the begining.

Paper market is where all the fraud is being done: the manipulation
Its the Physical market which is the real one. Don't look at the spot price, rather its a gift to buy low (if available), but avoid margin in your holding, as margin call liquidation can be very painful.

This paper manipulation will come to an end sometime in the future & the Physical market will be the real pricing mechanism, & at that time Silver is bound to go many many fold upwards..

Watch this interesting video: http://www.youtube.com/watch?feature...&v=HHXdO7MrIWI

[ashedfc]

Weekend Shocker
Epic weekend for the markets have arrived: Standard & Poor has downgraded US credit rating from AAA to AA+ (a downgrade of one notch). Next week will be interesting to watch. Now we wonder the 500 point fall in DOW was probably insiders gaining info from S&P prop desk & selling before the news, its like buddies helping each other leaving the rest of the investors to take huge losses from the coming free fall.......... leading to massive amounts of money printing is expected to follow now..
Hold on to your Gold/Silver positions (if you have any), this is the time we have been patiently waiting for..

For those who want to read the detail downgrade report: http://www.ft.com/intl/cms/af2c4fac-...144feabdc0.pdf

[carlyincanada]

Oh boy!! This came sooner than I thought!! Saw it on CNN earlier tonight!! WOW!!! Its gonna be an interesting week next week!! yikes!!

I just read the pdf....Canada is in better shape....BUT we are likely to get dragged down too!!

[carlyincanada]

[ashedfc]

This picture clearly explains the future of Dow Jones & the future of Gold price:

[buttercastle]

You know how bad it's REALLY going to get?. Reading an article by a European economist who has this term....GENERATIONAL DETONATION which essentially means that by the year 2020 (just 9 years away), 1 in 5 people in the U.S., CANADA, and EUROPE will be 65 years of age or older!. The GIGANTIC amounts of money that will be needed to support the elderly during this time will be staggering!. Just in the U.S. alone the economist estimates that it will take.....66 TRILLION dollars in pensions and health care to support the elderly population. All I have to say to that is GOOD LUCK!

Edit: guess we'll just have to tax the 20-40 year olds 89% tax rate

[newb]

Here is the series......pt 5 touches on what you`re saying buttercastle....the end to the welfare state.

http://therealnews.com/t2/index.php?...74&jumival=757

[ashedfc]

Last crisis when Lehman brothers went bankrupt, US dollar was the safe heaven, everything went down & only US dollar went up. This time (though many Govt's are on the verge of Default/bankruptcy) & Gold is the safe heaven, it's trading now at 1710$.

Gold is the only safe heaven; as now central banks will unleash the next round of money printing which will further devalue currencies (all currencies are same, some which are less bad are also rallying with Gold (& Silver)

[janelcd]

When purchasing silver, which is the better source - RCM or Kitco? Thanks

[ashedfc]

A steady rise of Gold price in the 100's is an indicative of problems in the general economy.

Tuesday, January 1, 2002 - Launch of euro notes and coins
Friday, February 8, 2002 - GOLD ABOVE $300
Monday, December 1, 2003 - GOLD ABOVE $400
Thursday December 1, 2005 - GOLD ABOVE $500
Monday, April 17, 2006 - GOLD ABOVE $600
Tuesday, May 9, 2006 - GOLD ABOVE $700
Friday, November 2, 2007 - GOLD ABOVE $800
Monday, January 14, 2008 - GOLD ABOVE $900
Monday, March 17, 2008 - GOLD ABOVE $1000
Monday, November 9, 2009 - GOLD ABOVE $1100
Tuesday, December 1, 2009 - GOLD ABOVE $1200
Tuesday, September 28, 2010 - GOLD ABOVE $1300
Wednesday, November 9, 2010 - GOLD ABOVE $1400
Wednesday, April 20, 2011 - GOLD ABOVE $1500
Monday, July 18, 2011 - GOLD ABOVE $1600
Monday, August 8, 2011 - GOLD ABOVE $1700



Today is an excellent example: why Gold/Silver is a good investment, it can preserve wealth. One can even buy in their TFSA account, where all the gains are tax free..& let it stay/grow till this global financial train wreck is running its course....

regarding Kitco or RCM (RCM is the govt. mint) wheras Kitco is a dealer: check both & compare the prices, it doesn't matter where the it comes from; all it matters is the price. (on RCM products, Kitco has no HST)

[newb]

It`s surprising that the world is still flocking to U.S. treasuries..

Ashedfc ..is there a advantage to buying minted silver coins at a premium as opposed to just silver blanks or bars?

janelcd ..check out this also http://www.store.firstmajestic.com/default.aspx...ashedfc gave us the link....delivery was quik..I only got the blanks tho

[ashedfc]

For Exporters & importers & central banks in several countries, USD is the world reserve currency, so they are forced to buy USD when they are liquidating assets.
But the major beneficiary is Gold, as I write this (at 1am in the morning; it's hard to sleep when there is a sea of red ink allover the world) Gold price is hovering around $1770; it indicates a total lack of confidence in the entire fiat currency system.

As I mentioned in my earlier posts, central banks will now unleash their biggest ever money printing experiment (very soon) & the markets have compelled them to do so. This will lead to an even bigger rally in Gold (& Silver). Because if they don't than the markets can have massive losses & the sentiment of any recovery can be impaired.

ASH