“October 7th was three weeks after this post. I’d say good call so far.”
Yes… it is eerie, Arraya. Although the cascading crash is much more dramatic than even I expected. Everyone is asking, “When will the bottom come?” The same sources that told me the first week of October would be a watershed have also told me that the Dow will hit 3,500 and martial law, in some form, will occur by January 2009, with food and gas shortages to occur around the same time, if not before.
Folks, this is not a drill. Chaos is truly right around the corner. If you believe the *system* can withstand 300-600 point drops in the Dow on a daily basis, you’re fooling yourself. At a certain point, the foundation will give way and chaos WILL erupt. It is only now a matter of time.
I have been in Colorado for the past week, scouting land for a possible escape in the next 6-9 months. The folks out there have been expecting a collapse — or something like it — for the past decade, as far as I can tell. Many, if not most, are self-sustaining and will fare relatively well in the coming catastrophe: many communities are difficult to access and have small populations.
The same cannot be said for those who are living in Southern California and places like it.
This time next year, the primary concern for most of the U.S. population will not be their 401Ks, but rather (a) how to secure food on a reliable basis and (b) how to keep others from taking what belongs to you.
Please take my advice and begin to stock up on food and other essentials so that you will be able to weather the storm when it first hits. Don’t be a casualty in the first wave; live to stand and fight another day.
On another note: my broker at Fidelitrade, from whom I have been buying metals for the past two and a half years, informed me last week that his clients were now limited to purchasing 500 ounces of silver PER ACCOUNT, not per transaction,
However, today he informed me that he cannot buy any silver, gold or palladium, whatsoever — although he has a contact at CitiGroup who claims to be able to buy silver for $40/oz. This jibes with what a colleague told me today: he can’t find any gold or silver for sale at APMEX, and gold on eBay is going for $100+ over spot.
I don’t know what TPTB are doing to manipulate metals prices, but the laws of supply and demand do not lie. And when someone goes to such extreme lengths to deceive regarding the market price of any product, you’d best believe there is an agenda. I don’t trust stocks. I don’t trust bonds. I don’t trust Euros. I no longer trust Swiss Francs. And I most certainly don’t trust USD cash money.
I trust no paper from this point on.
The only thing I trust are metals — the very things that are almost impossible to obtain in quantity now.
