Why is everyone so stupid? I don’t know, but I would think that when the treasury announced that it costs one and three quarter cents to make a penny, and eight cents to make a nickel, there would be mass recognition of the fact that the dollar is rapidly becoming worthless. Go to jail if you are caught melting them down? I thought that coins in your pocket were YOURS, not the D.C. Gang’s. Prices have gone up so much, which means inflation and the presses are running 7/24, that the raw materials to make a penny cost almost twice as much as the face value of the penny, and the same with a nickel. All the while, as the year ends, with housing falling out of bed, the auto industry in deep do do, and our trade imbalance growing hourly, the stock market mavens are proudly announcing that since the Dow is in new territory, all is simply wonderful. Out of the 30 stocks on the Dow, only eight of them are doing that great. Ever wonder how the Goldman Sachs CEO earned his $53 million bonus, and others in the stock flim-flam industry made so much? Besides destroying businesses by arranging endless mergers, which help only the top brass and crush the little guys? Most stock brokers are simply a bunch of shysters who will con anyone they may call, into buying stocks which may or may not be worth one of those eight cent nickels. Huge bonuses are paid for unloading worthless stocks on the sheeple. Yes, this includes mining stocks too. I wouldn’t dream of calling anyone, nor urge them to buy anything. Ever know of a stock broker who had these scruples? Ever hear of a stock broker who didn’t call the unwary to make a sale of something that the called upon wouldn’t have dreamed of buying before the call? I never have. The stock market is a gigantic gyp, and the proof of it is that these bozos make millions by fawning off stocks on the unwary and shallow minded…who should wake up and get a life. When stocks collapsed a few years ago, midst the hurrahs and glorious predictions of these high bonus, high income fakers, $7 trillion was lost by the gullible stock buyers and holders. How much will be lost this time? Had they bought gold or silver they would have more than doubled their dollars.
And while I am at it, those used car salesmen types who sell so called “rare” coins to the unwary, also burn up the phone lines with their spiels about ’confiscation’ and other nonsense. E-mail me and I’ll send you a column I wrote about ’confiscation.’ They’ll sell you a coin for $1,000, and if you are lucky, you could sell it back for $600. The “spread” on a Krugerrand is $7! The world is full of frauds, con-artists, and fast talking phone solicitors. Stay clear of them, and by all means allow me to wish you the happiest of new years!