(You now have access to Colorado Gold as early as 8:20 AM Eastern Time. Check web site for times. Now there are three of us, all knowledgeable, all honest and friendly. My daughter Melissa, is now on at 8:20 AM – 4 PM Eastern time. My son David’s on at 8AM – 4 PM Central Time. I’m the old man, who is on from 8AM to 4 PM Mountain time. I’ve got no degrees. “Those who can’t; teach, and those who can; do.” That’s always been my opinion anyway. I quit college after six months. I could have taught the course.
The 2.5 million, is the number of jobs Obama says he is going to create when he gets the con on January 20th. (It was 2.1 million a few day ago, but he does change things). I can’t wait. The 2.5 million jobs are to ’fix the roads, schools, and infrastructure of America.’ Exactly what happened in the 1930’s! Did it work then? Of course not, because government jobs are not productive jobs. In the 1930’s, when FDR did exactly the same thing, dollars were backed by gold, and he had to collect gold to back the dollars he wanted to spend. We had no inflation in the 1930’s, because the buck was solid. In 2008, the dollar is backed by nothing, and ’Katie Bar the Door,’ because the checks and scrip will flow like New Orleans streets during Katrina. Talk about hyper-inflation? ’You ain’t seen nothin’ yet.’ On Fox News, Monday morning, a news gal remarked “Print some more money,” when she remarked about the Citibank bailout of tens of billions more dollars. It will not be enough. Nazi Polosi, now wants to add another $50 billion to the auto bailouts.
Thomas Jefferson once said, “History, in general, only informs us what a bad government is.” Also what happened in the 1930’s, were bank closures. So far, as of November 21st, there have been 49 banks gone bust, and with their various branches, the number is in the hundreds. More announced every Friday, after the markets are closed. All bailed out by the FDIC, which is running out of dollars with which to cover their losses. “Hey Charlie, turn on that other dollar press, will you? FDIC needs more.” Also in the 1930’s, a lot of businesses went broke and never re-opened. Today, the list is long, and the same thing is happening. The list will grow much longer.
Closing all their stores so far, are: Cache, Talbots, J. Jill, Pacific Sunwear, Wickes Furniture, Bombay, Whitehall, Piercing Pagoda, Linens and Things, Movie Galley, Levitz Furniture, Wilson Leather, and Sharper Image. In my small town, we’ve lost two restaurants, and one video store so far. Closing a lot of stores, are: Loews, Dillards, Ethan Allen, J.C. Penney, Sprint-Nextel, Pep Boys, Macys, Home Depot, Disney, Zales, Footlocker, Gap, Eddie Bauer, Lane Bryant, and Ann Taylor. Circuit City has declared bankruptcy. Think of the bankrupt landlords with empty stores paying no rent. Sounds exactly like the 1930’s to me, and remember, there was no inflation back then, because the dollar was gold backed, and even FDR couldn’t print them with wild abandon, as is happening now, and with increasing speed as each week passes. One more point. Watch for ’mysterious’ fires,’ which will conveniently occur at low profit or empty stores.
All these store closings, will mean more and more unemployment, and after Christmas, their last hope for a few more dollars to pay their bills this year, the layoffs will be multiplied. Gloom and Doom? Yes, and I feel so terribly sorry for the tens of millions caught with no job, no money, and nowhere to go. A tragedy un-matched, I am afraid. Will Helicopter Ben indeed drop increasingly worthless hundred dollar bills from the sky?
Government make-work jobs are temporary, and will be paid for with printing press dollars. Stott’s Law, for all you neophytes is, “The more of anything there is, the less they will be worth.” This applies to washing machines, trees, water, sugar, autos, and of course, dollars. Government jobs, paid with printing press scrip, show no profits, which is what wages are paid with in a capitalistic society, which America is straying from, unfortunately. The 2.5 million job wages will be paid with scrip, and add to that, the bailouts, extended wages, welfare, two wars, graft, corruption, outright stupidity, more stimulus packages, and heaven only knows what. It all adds up to HYPER-INFLATION. The lag-time is unknown, but it will happen. Gold and silver will go up, as more and more people find their fears amplified, till they make the jump into real money. Hyper-inflation will cause more to get into metals, plus the prices of everything will go up in dollars, and that 3% bank interest will be a fraction of inflation. Many people say $1500 gold and $75 silver. More than that? $5,000 gold and $300 silver? Why not? Is there really a limit on currency degradation, when it can be created out of thin air? Is there a limit, when politicians think they can create wealth with printing presses? Not hardly. Same gold, silver, lumber, Cokes, tires, and newspapers. Prices gone up? No! Dollars gone down.
We all will being punished with runaway inflation, because everyone’s dollars will go down, even as they now are. Prices will go up for everyone, not just the poor and jobless. Those who have meticulously saved their dollars for retirement, or the so-called ’rainy day,’ will be punished severely, as they watch their savings value virtually vanish, as prices climb heavenward, and their puny interest not even beginning to catch up. Savers in dollars, during hyper-inflation will be wiped out, as has happened throughout history with savers in currencies rather than tangibles.
No column Thursday, as it’s Turkey Day. Keep the faith, and be ever so thankful you’re an American, even with the D.C. Gang doing everything in their tiny brains to destroy us. Also, once more, if it is possible, I really do feel that the major cities will eventually be dangerous places to live, and if you can possibly move to a small town, do it.