The End Times Editorials by Readers of The Warning

I am sure that most of you are already aware that we are in a serious financial crisis.  There is only one safe place to have money in this day, and THAT IS IN GOLD.  (Yeah I know, many that read this will not have any spare money in the first place.  Right?)

Money in a savings account is LOOSING MONEY!  Most reports say that inflation is anywhere from 5 - 7%.  Don't believe it.  Inflation in reality is closer to 12%.  Any money in a savings account is not only in jeopardy, but is loosing value with every passing day by anywhere from 8 - 10% per year.  

Pension funds and 401k's are dropping rapidly in value.  What people were depending on for retirement is dissipating rapidly.  


Welcome to Miles Franklin
WEEKLY GOLD AND SILVER UPDATE

 Jim Sinclair warns "This is it!"

The financial system is broken and all that can be done by the US Federal Reserve and the US Treasury is monetize all major financial entities.

The reason that all this has happened is the $1.114 QUADRILLION dollar mountain of crap paper consisting of unfunded, unlisted, unregulated and non-transparent financial specific performance contracts called OTC derivatives.

Those that create and peddle OTC derivatives are guilty of financial murder one.

I cannot imagine you reading the information above and failing to protect yourself, but knowing mankind, I doubt many did.

You should hold no dollars except what is required to pay bills for six months. You know now that FDIC is grossly under-financed compared to potential claims.  Get all your money out of financial entities now before you have to stand in line to get it.  Screw interest rates.  Keep six months of cash in your safety deposit box, invest the balance in short term treasuries of other currencies.

  1. You should put a minimum 1/3 of your LIQUID net worth in gold and gold equivalents.
  2. You surely know by now that SIPC is grossly under-financed when it comes to covering potential claims. The secondary insurance held by brokers is written to them for you, but not for you.


Please distance yourself and your assets from financial agents.

You must own gold and gold equivalents. Gold is headed to a minimum of $1650, a number that now looks quite low.

Gold is a currency. Do not forget that.

The US Budget Deficit is going ballistic.  The US dollar will trade at .5200.  The Euro will trade at $2.  The collapse of banks is far from over.  Default derivatives will fail to function when called upon to function in any significant amount.  Many major companies will fade away due to hidden OTC derivatives.

Pakistan will take crude up $100 from the point it is trading at now when the event occurs.

Monetization of all primary dealers of US Treasuries and all major manufacturers of OTC derivatives will be bailed out.

If you delay or do not act by doing the above simple and easy steps you will be financially finished.  Mark my words.  Those of you out there who freeze up make yourself targets.

The wave of phone calls from all over the world overwhelmed me once again today.

Here are your answers:

  1. As gold rose and the dollar slipped once again into the .7200 area a poor picture was being painted as legislative action neared for Fanny and Freddie.
  2. It seems that the key panic point is .7200 on the USDX.
  3. The Fed's perma-hawk spoke loudly about what will not happen - Fed increases of the discount rate.
  4. Crude came down today, blamed on the apparent hurricane fear fading. Major support starts at $125, and if that is not the bottom it will not be far below.
  5. All the dollar bulls and energy bears were pulled out of the closet as talking heads.
  6. Fancy accounting footwork is the entire reason why some bank earnings look better. They are not. In fact many of the best looking ones are the worst off.
  7. $25 billion for Fanny and Freddie will not cover a $5 trillion problem. It isn't even worth being called a bandage.

After all the substance-less noise used to paint the day better passes, we return to face the 3rd attempt at $1000 and the euro moving past $1.60.

Gold is headed to $1650 and the euro to $2. That is only for starters.

Respectfully yours,
Jim

 

Watch the dollar closely.  It is the weak

Richard Russell wrote,  I said it three years ago, I said it two years ago, I said it a year ago, I said it six months ago, and I'll say it again today.  The Achilles Heel of the United States is the dollar.  The reserve status of the US dollar is absolutely critical to the health of the US.  If the dollar begins to lose its reserve status, the US economy will be in shambles.

Gold is now on the move.  It's taking more and more dollars to buy an ounce of real money -- gold.  This is the market's way of saying that it trusts the value of the dollar less and less.  You may like gold as I do, but the rising trend of gold is a red flag for the health of the United States.  The rising dollar price of gold is telling us that both the US economy and the dollar are in trouble.

The US is the only nation in the world that can print the currency that its own debt is denominated in. That's an unbelievable "gift."  But the US has been doing too damn much printing and too much debt creating.  The world recognizes this, and it's systematically moving away from dollars.  Nations are now creating Sovereign Wealth Funds that buy tangibles while at the same time they're getting rid of unwanted dollars.

Right now almost everything from stocks to the Dow to homes to food is losing value relative to gold.  I tell you it's ominous.  And it's all the more ominous because 95% of analysts and economists don't recognize or understand what's going on.  They're ignorant of the message that rising gold is sending us, and worse -- their ignorant of the very meaning of gold.

 

Gold is about to launch an assault on $1030
Russell said, Gold will probably have to back off maybe to 925 to 950 before pushing higher.  The obvious upside target is the preceding all-time high at 1030.  I have to wonder what would or will happen if gold can better its previous record high at the 1030 box.  It could be quite a show.

It will take huge government spending along with massive deficits to get the US economy rolling again. When I say massive I'm thinking of a deficit of maybe a trillion dollars. There's no painless or pleasant way of dealing with the mess that the US is now in. The worst outcome would be chronic deflation, although many believe it would be hyper-inflation.

Actually, the way things are going, I'm not sure that deflation won't be thrust upon us whether we like it or not.  Deflation would be a result of too much world production and too much leveraged debt.

If you should buy gold bullion (coins etc.), do not store it anywhere but on your own property. If banks closed, you would not be able to get into a safe deposit box.  NEVER store it with a gold dealer.  They CAN go broke and you will never get it back.  AND, do not tell anyone that you have it, or where it is.

 

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