A consideration of monetary things - Opinion from surgreenby Peter Watson aka surgreen Build an Income Online "...Meanwhile a 3000 point down day for the Dow Jones Industrial Average, the most widely followed index will wake up the public. That
could happen sometime over the next 4 years. Or even the next 4 months.
My condolences go out to whoever the US public decides in a few days (as I write this) to be the President for the next 4 years. They will be blamed for not being able to stop the Second Great Depression..."
The above quote is from a recent newsletter from Ed Freeman, owner and administrator of SilverSnowball.
As portentous as the quote may be, it was selected to emphasise the need to appreciate the current financial turmoil as a situation that can have a major impact upon every person on this planet. It is not something to be ignored or left until next year. It is something
everyone should be doing as of yesterday!
I believe that anyone with paper money should be converting a percentage of that fiat currency into physical gold and silver. Precious metals will be a haven from the potential ravages of inflation and, in the event of deflation, will allow the holders of said metals to be in a position to pick up huge bargains such as real estate, company stocks, etc when the coming depression begins to recede.
The newsletter is posted monthly, along with the confirmation of my regular purchase of 1 Troy Ounce of silver. As much as I anticipate
the arrival of a little more silver for my steadily burgeoning stack, I eagerly read Ed's commentary on financial events and predictions
as they relate to precious metals, silver in particular.
While I cannot and do not pretend to have any particular expertise in financial or monetary matters, I have known in my heart that there seemed to be no possibility of the monetary system as it exists today, continuing indefinitely.
For a good part of my young adult life, I was of the definite opinion that our monetary system was unsustainable. I thought no more of it beyond that certainty. That is, until I began to actually learn what is so incredibly blighted within the system we all take for granted.
It is a monetary system, however, that is approximately 100 years old. An 'experiment' that has been allowed to continue running and has been allowed to get out of control to such an extent that only calamitous events can force a change. We are in such a predicament. We cannot now prevent that which is coming, in whatever form that will be. All we can do is try to prepare.
Thank you for your time, and please follow the relevant links I post regarding this topic on occasion and feel free to contact me and I may be able to clarify my position further.
Created on Dec 31st 1969 18:00. Viewed 0 times.
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