Favorite Quotes

CURRENT FAVORITE QUOTES

"The most fundamental form of human stupidity is forgetting what we were trying to do in the first place"

"Party like its 1929"

Tuesday, January 11, 2011

The fire rises higher

Both Virginia (http://www.zerohedge.com/article/virginia-creates-subcommittee-study-monetary-alternatives-case-terminal-fed-breakdown-consid )   and Montana ( http://montanasoundmoney.org/parksvideo.html)
 are considering bills that would put the State in a position to issue money in the event of a collapse of the Dollar. Some other states (Georgia, Indiana, Montana, New Hampshire, and South Carolina) are considering such legislation as well.

 I am not sure whether all of these these would be entirely backed by PMs or another fiat currency, but it is interesting that such a matter has even come up.

Utah is thinking of accepting gold coins in payment of debts owed to the state. http://www.sltrib.com/sltrib/home/50949183-76/gold-state-utah-coins.html...

Europe is quickly spinning out of control with bond issues going unpurchased and interest rates rising. German resisitance to endless bailouts and a rising citizen demand for the return of the Mark takes the QE option off the table. It looks like the Euro will not last the year. US Treasuries will probably follow after a short rally caused by the death of the Euro. The Yuan will fall as trade drops and the Chinese economy crumbles as it loses customers in the US and Eurozone. The Yen is a zombie and the rest of the BRICs are trapped in an export economy mode that will falter as the balloon goes up.

Buy your PMs now before the hordes of sheeple catch on.

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