Here’s another article for the bulls to poo-hoo![fear]
http://www.gold-eagle.com/editorials_04/north080204.html
enjoy! LOL
Thanks wayne…
Can I ask wayne… are you into the kinds of theories he’s discussing or the way he discusses them?
kay henry
Originally posted by kay henry:Thanks wayne…
Can I ask wayne… are you into the kinds of theories he’s discussing or the way he discusses them?
kay henry
Hmmmmm. As it says in the article, economic sytems are extremely complex. So complex that you can pretty much make a case for just about any eventuality.
The bulk of evidence from non mainstream sources (i.e. not the Wall Street Cheerleeding Squad, or the Guv’ment) points to some trouble on the horizon.
I believe in covering ones arse, and a perpetually bullish attitute can be a financially fatal in the event of a deep recession/depression.
So just trying to get some balanced thinking and discussion going.
Cheers
Well as you are probably aware Wayne Gold-Eagle are the biggest Gold Bulls i’ve ever seen, they love these types of storys. I’ve been following them on and off for about 2 years one day there Gold predictions may come true. I just have trouble taking these guys seriously.
regards westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Wayne,
Interesting stuff. I’ve read about the inter-bank loans issues previously & agree it’s an area of concern.
On balance the US government has an interest in maintaining stability & will step in as it has done to resolve this type of issue.
As it also did with airlines after 9/11 to prevent many of them collapsing.
The world has experienced one Great Depression – and NO-ONE wants a repeat performance.
Most major governments around the world are willing and able to take an active hand as required to prevent a recurrence.
At the end of the day, if governments don’t step in to prop up their economies, currency becomes worthless anyway…and as to the value of gold & silver – well I don’t accept that the price will remain high. Destroy the economy & market & the most valuable resources will be water, food & energy – in that order, followed by skilled labour.
So my opinion is, if you fear an imminent collapse of the global economic system, don’t bother hoarding gold, silver & currency as recommended in the article – learn a vital low-tech skill & ensure your access to water & food.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.– Jan L.A. van de Snepscheut
Yes, obviously, even in the depression there were still some people spending money. My great-grandfather was a very gifted painter and decorator. Throughout the depression he still earned enough to wine and dine his mistresses and drive them around in his new car (while his wife and five children went hungry and walked everywhere. To this day my grandmother and her siblings call him “old suck eggs” rather than dad).
The point being that even in a depression you can earn a decent income with the right skills. Barter systems are an important form of currency in this situation. After hearing so many of my grandmother’s childhood stories, food, shelter and water are the most valuable commodities in such an economic climate (not many people eating or buying gold about then – some good bargains if you can afford to buy gold during the depression though I’d imagine LOL). I agree with Aceyducey on this.
Cheers
Sonjagreat link wayne…i agree with everyone.
the idea of hoarding a treasue of gold coins makes me laugh. a bit like the people that move to the blue mountains for fear of the impending tsunami, atom bomb, etc ready to hit the earth.
maybe its the way to go. where are those bob dylan tapes havent listenb to for a while – tune in and drop out!!!
Hi Guys
i think we should drop the term “Great” depression from my limited knowledge it was great for only af ew, for the vast majority it was a time of immense hardship. Thinking about it, the same thing for the 1914-18 war, they call that the “great war”, sure some people had a ball but really its a war, and many people got killed. i know before you criticise me and argue it must have been great because they were all back there 21 years later, i just don’t really get it.[blink]
westan
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database
Hi all,
Yes, the authors views are obviously being used to flog a gold coins, so a bit of healthy cynisism is warranted.
The interesting thing to me is this. When depressions or market crashes happen(there have actually been 3 great [to use the standard adjective] depressions since the industrial revolution), folks are usually at a loss as to what actually caused them. So despite the best efforts of governments and central banks, they may occur anyway.
We currently have several possible triggers. War/terrorism, oil prices, demographics, etc.
I think Soja has made a very good point. A depression is not Armageddon and though an altogether unpleasant eventuality, they provide a springboard for growth. A bit like a good pruning.
I had one grandfather who was employed throughout the depression and the other was unemployed for some time (this was in NE England) But people survived and did what was necessary at the time.
I think that it is smart to accept that a depression is *possible* at least, and to have contingency plans in place.
Gold coins? Dunno about that one, but some plan nevertheless.
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