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…You Better Think Again
Despite what the cheerleaders of Wall Street, Washington, and the financial sector propound I foresee such troubled financial, social, and economic times that it will make the years since 2008 look like a glide down the Ol’ Mill Stream. Folks, we are in for some rough water; …most especially if we get into a tangle with the Syrian-Russian-China-Iran Alliance. Since 9/11 we’ve been strategically limiting the energy options of Russia, China, and India. These countries have had crude oil contracts with Iraq, Libya, and other rich oil producing states. With our various incursions into North Africa and the Middle East we have forced Russia, China, and India to seek other sources of energy for their emerging economies. Now with Syria firmly in the crosshairs and a lustful eye on Iran, these nations are drawing a line in the sand because their energy options are running out. Just this week both Russia and China warned that any intervention by the US will have catastrophic consequences and result in region wide conflict, however, there is a distinct possibility of igniting World War III. This could lead to the long dreaded thermo-nuclear devastation that folks of my generation have had dangling over our heads like the sword of Damocles.
The effects of such conflict aside, the most immediate problem is the current state of economic doldrums which most of the world finds itself in, and with no viable solutions in sight. Most national economies are printing money in an attempt to debase their own currencies in the vain hope of better trade conditions. Such actions are really just playing economic Russian Roulette, sooner or later a live chamber is found and the results will be devastating. A unique feature of the global situation is that for the first time all national banks and financial institutions are following the same pattern of debasement. That being the case, we, in the West should look to the so-called PIGS nations to see what has been occurring there of late. In the past few weeks, before the Cone of Silence fell on the mainstream media we saw popular riots taking place as the citizens were forced to swallow the bitter medicine to reverse the fat years of false-plenty under Socialist economic leadership. First there were huge layoffs, even of government sector workers; then the utilization of so-called bail-ins, which virtually confiscated the life savings of many under the guise of being “investors” of the banking system. Additionally, many pensions were also seized under such phony policies. In many of these PIGS nations the populace was left to their own devices and as such black-markets and back to land subsistence has become a popular lifeboat.
Now apply this scenario to the current situation in the US and we can see that overtures, as previously reported in CRS, are being formulated to gain control of 401K, IRA, and pension funds. This likely will be in the form of forced investment in T-bills or other Federal vehicles with a “guaranteed” return. However, if the return is in inflated Greenbacks the net effect will be zero growth and thus zero worth. So the question is what to do about this? However, I don’t have an overall solution. Preparation will be up to each individual and his particular circumstances. Meantime, I’ve taken steps which, I hope, will safeguard my own particular situation. I urge the readership to do due-diligence and consider all your options.
Below is a web citation that will demonstrate all the above:
Financial Calamity- It’s Coming, Be Worried, Be Careful-Jim Rogers
Richard of Danbury, D.S.G.