(Video Follows Excerpts and Commentary)
On TSA Pat Downs:
This is part of the process of breaking the people down. They subject you to all levels of humiliation. And it’s only breaking down the little people because the people at the top don’t have to go through this kind of humiliation.
Not the bankers, not the big executives, and certainly not the government officials – they have their private jets and the jumbo jets. It’s also, when you think about it, deranged. I don’t want any guy feeling me up.
It’s really quite astounding. And of course, isn’t this also besides as you say, the states agenda, breakdown the people, humiliate, control in order to better be able to run society. But aren’t there people making a lot of money out of this? Isn’t Michael Cherthoff, the Cherthoff Group, isn’t that the usual thing in this sort of big government, big corporation partnership that is the U.S. today? There’s always some guy or some group of guys making big money off the latest government outrage.
Gerald and Lew hit the nail on the head. Not only is this about control – it’s also about money. Lot’s of it. President Obama personally authorized the purchase of the backscatter machines and other security equipment in excess of $1 billion. That’s taxpayer dollars – our money – being used to herd and control us like cattle.
On The Economy:
When we’re talking about groping, they’re groping the economy too, aren’t they? The big banks, big corporations, big government of course – whether it’s quantitative easing 2, or all the rest of the policies, they’re hurting the little guy, destroying our standards of living, building an authoritarian, maybe a totalitarian state. What do you think is happening with the economy, the Euro and also the European economy?
Well, you mentioned QE2. That’s white shoe boy language for printing digital money out of thin air, based on nothing and producing nothing, and not worth the paper it’s not printed on.
What that does is by devaluing the dollar, which they’re doing, you’re seeing commodity prices go up. Everybody feels it when they go to the pump, because most of the commodities are based on dollars.
They’re cheating the people – in the old days people who didn’t want to take risk would put their money in the bank and get a small return on it in interest rate – now you’re not getting anything virtually. So, what they’re doing isÂ they’re forcing people to try to play into the casino called Wall Street. That’s number one.
Number two, is that there’s a meltdown globally, it’s a currency crisis. Brought on primarily by the United States – and I love it – they criticize China for not raising the value of their Yuan while Ben Bernanke devalues our currency in front of us.
Number three is that with this currency war you’re going to see trade wars follow.
…Following a currency war you’re going to start seeing trade wars. Trade wars, Lew, plus currency wars, equal real wars.
…There is no solution…
They’re forcing austerity measures. Austerity measures equal you pay more taxes, you get less benefits, and you also get fired.
So, we’re going to start seeing revolutions breaking out across Europe.
The collapse of global economies is in motion, and as Gerald Celente said, there is no solution. Our benevolent governments will not fix this, though we can anticipate committees and commissions after the fact – to figure out “what went wrong and how to prevent it from happening again.”
We’ve noted in previous articles that austerity will come down on the American people (and Europeans) like a sledge hammer. Congressional panels are already proposing cuts to Medicaid, Medicare and other services that have become essential for millions of Americans, and chances are we are going to see our taxes going up very soon – perhaps as early as 2011 if the Bush tax cuts are left to expire.
We’ll be paying more to our government for fewer services.
But the cuts will not be enough, and even if the U.S. government were to seize all of the private assets in America, it would not be enough to pay off our current and future liabilities. It’s simply not mathematically possible to do so.
We’re seeing protests and riots in Europe. In a recent speech to the European Parliament, UK representative Nigel Farage gives us some insight as to the sentiment of many Europeans. They really are on the brink and many Europeans are realizing that the EU experiment is failing. Soon, those anti-austerity protests will turn to all out revolts and revolution. It will spread like wildfire.
The tinder may have already been sparked in the U.S.A., as well. And like Europe, when the people realize they have been had, and they’re poor, out of work and unable to feed their families, the same thing will happen here.
How to Protect Yourself:
Here’s the average guy, he knows he doesn’t want to put money in a bank. As you say the stock market is just a casino for the big boys. What do you try to do to protect yourself for the troubles that are inevitably ahead?
Speaking strictly for myself…
We are projecting gold to go to $2000. It can go way higher, but we think that’s going to be the limit because the world governments will do something to push the price down. In the meantime I keep buying gold. I’m 80% invested in gold. For the people who can’t afford gold silver also seems like a very good play.
Anything precious is worth much more than worthless paper.
…the other aspect is I don’t keep any money in the bank that I don’t have to. And I also buy Swiss Francs and Canadian Dollars as a hedge against the dollar being devalued.
We’ve written about it before, and we’ll say it again. Gold and silver are the hedges against government instability. As we’ve pointed out before, gold may not hedge well against inflation in the short-term, but when governments around the globe are losing control that’s when cautious investors look to precious metals to protect them. There has never been a time since World War II that has been plagued with as much uncertainty as we have today – in all aspects – economics, finance, politics and society.
You don’t have to put 80% of your assets into precious metals like Mr. Celente, but if you’re not holding at least some gold assets (if you have the ability to acquire them financially) then in our opinion, you’re playing a very dangerous game with your retirement and savings accounts, and you should plan on being completely wiped out at some point in the near future. Stocks and bonds, in real terms, are going to be very risky going forward.
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