Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

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Content By: The Coming Depression Editorial Staff (dates cited below)
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This past week several emerging and ongoing crises took attention away from the ongoing sovereign debt problems in Greece. The bailouts are merely kicking the can down the road and making things worse for taxpaying citizens here and abroad. Greece is unfortunately not unique in its irresponsible spending habits. Greek-style debt explosions are quickly spreading to other nations one by one and yes, the United Stated is one of the dominoes on down the line.

Time and again it has been proven that the Keynesian system of big government and fiat paper money are abject failures in the long run. However, the nature of government is to ignore reality when there is an avenue that allows growth in power and control. Thus, most politicians and economists will ignore the long-term damage of Keynesianism in the early stage of a bubble when there is the illusion of prosperity, suggesting that the basic laws of economics have been repealed.

In fact, one way to tell that a bubble is about to burst is if economists start talking about how the government and the central banks have repealed the business cycle. The truth is, the laws of economics are constant and real, no matter how inconvenient they might be to politicians and bankers. This reality is setting in and the bills are coming due. In the meantime, countries that have no money have bailed out other countries that have no money except for the phony money created by politicians, bureaucrats, and their partners in crime at the central banks.

This may be preventing big, well-connected banks from having to take on massive debt, but it is all at the expense of the taxpaying citizen. As government and central banks continue the cycle of spending and inflating, the purchasing power of their currencies is constantly being degraded. These currencies are what the people are working for and saving. This inflation guts the savings and earnings of the people who have very limited options for protecting themselves against these ravages.

One option is to convert their fiat currency into something out of reach of central banks and government spending, such as gold or silver. It is fairly typical in the midst of economic crises like these for gold to come under attack by Keynesian economists and their amen corner in the media. The arguments against gold are usually straw men based on a fundamental misunderstanding of the purpose of buying gold. Gold is not a typical investment. It is a defense against the predictable behavior of governments to debase a fiat currency under its absolute control.

Related posts:

  1. Get government out to create jobs: Ron Paul“Neither a Keynesian big spending program, nor the military-industrial complex can create long-lasting employment or economic prosperity for our country. The only way to restore both peace and prosperity is...
  2. Gold prices hit new high; estimated high of $50,000 per ounce“Gold futures rallied to a record over $1,380 an ounce Thursday, and silver futures rocketed more than 6%, after investors piled into precious metals as a hedge against the sinking...
  3. Ron Paul: Washington Is Destined to Destroy the Dollar““We’re printing money, we’re spending money, we have not reformed Washington. They’re destined to destroy the dollar, which means not that the gold price is going up, but the value...
  4. Letter written to government officials regarding new HST taxDear Ms. Pupatello & Minister Duncan, I am writing to convey my dismay at your approval of the new HST. Very simply, any tax imposed by government on people is...
  5. US Federal Reserve Destroying Dollar; Buy Gold For Protection: FaberInvesting guru Marc Faber advises investors to switch off Ben Bernanke, ignore his government-sponsored “We will keep inflation in check” line — and be sure to buy gold to protect...
  6. Fiat money has no place to go but gold: Greenspan“[Gold]is the canary in the coal mine. It signals problems with respect to currency markets.” — Greenspan According to the New York Sun, only days after the former Federal Reserve...

This entry was posted on Sunday, June 6th, 2010 at 6:11 pm and is filed under Video. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. June 14, 2010 @ 10:15 pm


    I love Ron Paul but I wonder if an honest and just man will ever reach the Presidency. Ron Paul has been speaking this message for 40 years and he is warning the people to take precaution. He is not a charismatic leader but is a qualified and educated person who leads by educating people to make educated sustainable choices based on 1st Principles – meaning – Scientific choices based on Reality, Justice, Peace, Love, Honesty. Can he do it? For Ron Paul to win either of 2 things must happen: 1. The People must become educated and Honest or 2. America as we know it must Collapse !

    Posted by David Jeremiah

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