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alstry (35.88)

Now The Sheep Squirm

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June 30, 2010 – Comments (2)

When you only bail out the Federal Government and a few banks......and cut off credit to a credit dependent economy with over $55 trillion of total debt.....

pretty soon anything not tied to the Federal Government or those few banks die as revenues evaporate.

More and more bankers realize the current system is hopeless...more and more of their loans are defaulting......fewer and fewer can make ends meet.

Now our cities, counties, states, hospitals, and schools will start shutting down........something Alstry was blogging about last year when some Fools were telling you to buy municipal bonds.........

Welcome to the Digital Age....where production will be so low for a while  that governments around the world will be forced to take over production.....regardless who owns the title.

Prepare for gold and current currency to become obsolete......and Digital  Vouchers to be the currency of the new age.......

2 Comments – Post Your Own

#1) On June 30, 2010 at 10:16 AM, XMFSinchiruna (27.53) wrote:

Alstry,

You are 100% mistaken when it comes to gold.

You are correct to be concerned about those other matters, and declining production is a real problem, but gold will not become obsolete as paper currencies fail to hold value. On that you can rely.

You will no doubt concede that your outlook on gold has gone through multiple revisions over the past few years, while mine has remained consistent. I would not be 90% invested in precious metals if I discerned even a 1% likelihood that gold will become obsolete. Given that I spend my every working day studying the markets for gold and silver, I hope you will reconsider your assumptions about gold, and discover the ultimate safe haven against everything else you predict.

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#2) On June 30, 2010 at 11:45 AM, imobillc (< 20) wrote:

I agree with Sinch again...

Alstry is wrong on gold by a small margin of just 99.9%.

Mars 

 

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