Friday, November 26, 2010
Gold: down 0.3% At $ 1,371.70 an ounce
Gold: down 0.3%A $ 1,371.70 an ounceGold fell slightly today in Asian markets. The yellow metal was trading at $ 1,371.70 an ounce, down 0.3%.
Currency Warfare, Trade Barriers, The People it Hurts
Currency Warfare, Trade Barriers, The People it Hurts
An excerpt from Bob Chapman's weekly publication.
November 24 2010:
A frayed social net, foreclosure crises caused by banks, few jobs available, standards of living to fall, Open currency warfare, FBI finds more insider trading, Bernanke and quantitative easing, toxic economy still poisoning the system.
The social net has become a bit more frayed. Soon extended unemployment benefits will cease and 2 million Americans will have to dip into their savings, if they have any. This is an outgrowth of the effects of free trade, globalization, offshoring and outsourcing. We have lost 8.5 million jobs over the last ten years to this destructive process. We have seen more than 42,000 manufacturing plants leave the country as well. There are now more than 17 million Americans unemployed and the U6 official government unemployment figures 17%. If you remove the bogus birth/death ration, the real figure is 22-5/8%. Over that ten-year period we have lost about 5.5 million manufacturing jobs or about 1/3rd of that labor force. As recent as 1985, 25% of output was in manufacturing, now it is close to 11%. America’s physical infrastructure is in a shambles, so that transnational conglomerates can bring us cheap goods to suppress inflation and bring these companies mega-profits, which they keep stored offshore to bypass taxation. They presently have $1.7 trillion in such profits.
read more >>>>
An excerpt from Bob Chapman's weekly publication.
November 24 2010:
A frayed social net, foreclosure crises caused by banks, few jobs available, standards of living to fall, Open currency warfare, FBI finds more insider trading, Bernanke and quantitative easing, toxic economy still poisoning the system.
The social net has become a bit more frayed. Soon extended unemployment benefits will cease and 2 million Americans will have to dip into their savings, if they have any. This is an outgrowth of the effects of free trade, globalization, offshoring and outsourcing. We have lost 8.5 million jobs over the last ten years to this destructive process. We have seen more than 42,000 manufacturing plants leave the country as well. There are now more than 17 million Americans unemployed and the U6 official government unemployment figures 17%. If you remove the bogus birth/death ration, the real figure is 22-5/8%. Over that ten-year period we have lost about 5.5 million manufacturing jobs or about 1/3rd of that labor force. As recent as 1985, 25% of output was in manufacturing, now it is close to 11%. America’s physical infrastructure is in a shambles, so that transnational conglomerates can bring us cheap goods to suppress inflation and bring these companies mega-profits, which they keep stored offshore to bypass taxation. They presently have $1.7 trillion in such profits.
read more >>>>
Gold Weakens as Dollar Gains on Europe Debt Woes
Gold fell 1 percent on Friday as the dollar pushed to fresh two-month highs against the euro on worries that Ireland's debt crisis was spreading and on growing speculation of an imminent Portuguese bailout.
However, gold was underpinned by some modest safe haven buying amid investor nervousness over the European debt crisis after a newspaper report that euro zone nations were pressuring Portugal to follow Ireland's lead and seek a bailout. Portugal and Germany's finance ministry denied the report
read entire article
$500 Silver?!? - Max Keiser
The People's Currency Is about to smash Wall Street's Precious Fiat Paper.
Can we say $500 silver by December 2011?
Can we say $500 silver by December 2011?
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