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Business Title: The Choice: Immediate Systemic Collapse or Printing More Dollars In his latest interview with The Gold Report, Shadowstats founder and leading contrarian economist John Williams says hard assets, namely gold, will be insurance against the coming economic Armageddon. Williams and Gold Report’s Karen Roche discuss a host of topics from government statistics to the coming economic meltdown. On Government Statistics We’ve repeatedly warned that the government statistics are manipulated, sometimes on purposes, sometimes because the people compiling the numbers suffer from normalcy bias. Whatever the case, the economic picture is not as rosy as we’ve been told, and unemployment statistics are a clear sign of this. The official government unemployment rate, the one cited by the news media and optimism opium smoking sheeple, is 9.8%. The real number of unemployed, including all those who are counted as officially no longer looking for work and those who have fallen off unemployment benefits (i.e. the 99ers), is closer to 22% according to John Williams. The Economy in 2011 and Beyond The problem is we have a solvency crisis and an economic crisis that are ongoing simultaneously. The ‘double dip’ oft discussed by economic talking heads is nothing but propaganda. A double dip suggests that we may have another mild recession, but it won’t be anything severe. It’s just a dip - not a collapse. In reality, it is going to be much more than just a ‘dip.’ The Catch 22 I think they’ll continue to do what they’re doing, and I can’t blame them. They have a series of devil’s choices. We’ve gone too far to bring things into balance. … The current circumstance could have been avoided decades ago with prudent management of the government’s finances. Now, given the choice between immediate systemic collapse and printing more dollars, I likely would do what the government is doing, because printing money at least buys a little more time. In a recent letter to Congress, Secretary of the Treasury Timothy Geithner confirmed Mr. Williams’ views and suggested that we are literally on the brink of collapse. We either stop printing voluntarily now (which is simply not going to happen) or our creditors will stop buying our debt. It’s that simple. The end result in both instances is a collapse of our economic system. What Collapse Might Look Like … I can’t tell you for sure that’s going to happen, but if I’m right about what’s happening with the economy and how the Fed will respond—with more, not less, quantitative easing—the general response in the world markets will be to dump dollars, and there is high risk of that in the year ahead.http://www.shtfplan.com/emergency-preparedness/the-choice-immediate-systemic-collapse-or-printing-more-dollars_01272011 We may have already triggered hyperinflation. Food costs are rising at an alarming rate. In a previous interview, John Williams suggested that we had perhaps a couple of months before the first signs of hyperinflation kicked in. That interview was in December of 2010. It is now more likely than anytime since the crisis started, based on rising prices for essential goods like food and energy, that inflation is the probable end result. How To Protect Yourself As we’ve discussed prior, hard assets will be the only protection for preservation of wealth during a hyperinflationary collapse. Gold and silver are just a part, in our view, of any complete SHTF plan. John Williams has suggested previously that there is a significant threat of disruptions to our food supply and the normal flow of commerce in the event of a collapse. In the onset of such a collapse, even gold and silver may be difficult to trade for essential survival goods like food and gas. That’s why if your concerned with life during and after hyperinflation you should ask yourself what is money when the system collapses and how do i prep, invest and preserve wealth during hard times? Value will be redefined in such an event. Don’t be sitting on Federal Reserve brand toilet paper - have some hard assets.
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#4. To: Capitalist Eric (#0)
Let it crash. The sooner it does, the sooner we can break the entitlement parasites of mooching off the productive.
I agree. IF the GOP and Tea-Party people in the House shoot down increased debt cap, the fireworks will start within a matter of months. The government parasites will be toast, and have to find REAL employment, at something productive. The parasites will suffer greatly, but WE will survive. If they DO raise the debt ceiling, the government will essentially throw US under the bus, and destroy us to save themselves... And we will SUFFER during the collapse. Oh, they'll suffer the same fate, but AFTER us... Unfortunately, a lot of people on this board don't understand, that we're gonna' go down hard- and quite soon- no matter what. So yeah, we burn off the leeches, and suffer a little pain... or the leeches will suck the population dry, before they die too.
#6. To: Capitalist Eric, Happy Quanzaa, go65 (#5)
No matter what? Then don't change a thing since its gonna happen regardless - is that not your climate change philosophy also?
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