Economy

(GoldScents) – STILL JUST A BABY BULL

It’s sad to say but I’m afraid 90/95% of all retail traders/investors are not going to successfully ride the gold bull. The reason of course is that they are deathly afraid of draw downs. It’s glaringly apparent every time gold pulls back or suffers the slightest correction. Immediately a slew of traders come on the blog and warn of impending doom. “Gold is going to $600” (think Elliot wave). Some are even brave (maybe I should say ‘foolish’) enough to short. Here is one we hear alot lately, “miners are going to get crushed if the stock market enters a new leg down in the secular bear market”.

Pure nonsense!

Let me show you what happened to gold and miners during the 2000-2003 bear market. Read More Here

(Alternet) – Why Banks Try to Make Borrowers Feel Like Sinners When They Can’t Pay off Their Mortgages

Crazy views about homeownership are helping the very bankers who screwed us in the first place. Read More Here

(TheComingDepression) – World economies on verge of currency revaluations to deal with debt

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford
Basically what the world central banks are doing is increasing their money by devaluing it (printing more than it’s worth) and giving it to banks so that they can lend it. Then, when things pick up, simply take the money back and destroy it. Read More Here

(Telegraph) – Euro ‘will be dead in five years’

The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph. Read More Here

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s