Protect Yourself!

"What we're witnessing, it seems, is the culmination of a conscious, long-term effort by business and its conservative allies to emasculate government protection of its citizens. Meanwhile on the home front, individual Americans and, to a slightly lesser extent their European and Australian counterparts, continue to spend up to the hilt, using their house as a private bank to draw off capital, to keep the engines of growth churning along. The Real Estate bubble remorselessly grows ever larger to become by far the largest asset financial bubble the world has ever seen. Only the "galactic scale derivatives and hedge funds" monsters exceed it. The distortions in the global economy are at breaking point. All it needs is the trigger. The collapse of the US$ is the trigger....

When the bond, equity and real estate markets finally collapse, as they will, the scramble for precious metals will become the greatest mankind has ever seen. It will be propelled by mans most basic instincts: fear and survival. Remember, no man or country has ever issued digital currency or paper currency in the unconstrained, uninhibited and totally uncontrolled manner in which the US has done. No country has ever amassed debt on such a mind boggling scale. No country has ever allowed its savings to collapse to such a pitiful level. The misallocation of resources, and dislocation of the economy is quite simply enormous and unsustainable. These vast distortions cannot continue much longer. Like the laws of pure science and economics, the correction is long past overdue as the fundamentals that drive society take over their natural control of events. Mr. Greenspan and his Federal Reserve are just mortal human beings, after all. There is one much mightier than he. Hubris has always been, and will always be, mankinds' ultimate undoing."

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