No matter how far one can go back in Earth’s history, even before paper was invented, items of physical value have always been secreted away for future deliverance, liberation, salvation, or any other synonym which may come to mind for use, if government promises, or its paper money become useless, and you wish to eat!
Stocks have become worthless as has paper money, bonds, or other promises provided by honest or dishonest persons, corporations, governments or rulers, if times become strenuous. I read the Wall Street Journal daily, and it’s seldom that an issue comes out which doesn’t have a story about a corporation, business, or other financial entity collapsing.
Recently, the Journal had a major story about apartment owners going bust because of a failure to rent, collect rents, or their costs increasing so much, that continued operations are impossible. It wasn’t long ago that office building owners were being bankrupted because of office renters’ employees working out of their homes. Restaurants which served office workers went the same way because of a lack of patronage from former commuters. Commuting transportation entities were in trouble because of no commuter business.
Diesel fuel, as I write this, is over $6.50 a gallon, and in California it is $8. Diesel powered trucks and locomotives deliver, 99% of food, building materials, medicines, cars, trucks, and that list is endless, I am certain. Every citizen in the entire world depends on diesel fuel for their life’s continuance, and the bankruptcies are just getting into high gear from that. Trump’s war, is in the main, responsible for the inflation and results of the fuel shortages. Many truck stops have signs at their entrances, saying “No Diesel.”
The chain reaction of Trump’s war, is inflation in all sectors, and has closed the shutters of many large and small businesses in the U.S. and I am certain in the rest of the world as well.
Real Estate sales are down many percentage points, movie theatres by the hundreds have closed, and one of America’s major tourist attractions, Disney World, has cut admittance prices radically, as business is so slow, and one of America’s largest amusement parks in Texas, “Six Flags,” has declared bankruptcy, and Starbucks is closing 250 stores. Small towns in Colorado, and I am certain in other places where builders took advantage of people wanting to get out of big cities, and built new homes, which now are un-sold, because of high prices and interest rates. Banks which financed these builders, now are foreclosing and everyone is hurt…except those of us who have no debts and whose safes contain insurance against and financial disaster.
There are millions of credit card holders, mortgage, car payment and student loan borrowers, who are in arrears. Inflation is now at least 5%, whether government will admit t or not, and if you want to buy a home, a 7% interest mortgage, has killed that sector of our economy. As I was writing this, I did a GDP/National debt comparison of all nations. The United States had a rating of 125%, which was far higher than many, but comparison to China’s, which is 313%, we don’t look too poorly. I believe that China’s economy is crumbling quickly, and I can’t believe that Trump said he liked China’s newspaper better than ours. CHINA IS OUR ENEMY, AND NOT A FRIEND, President Trump.
No one can predict the future weather, earthquakes, or for that matter anything. We can only look at current conditions and make a prediction. No one predicted the crash of 1929. Everyone thought the stock market and economy were in great shape! Literally, only about 1% predicted the crash. All I urge you to do is look at current conditions and history, and decide if you need gold and silver insurance. A bell cannot be un-rung, and “I wish I had….” Is not in our vocabulary!
don@coloradogold.com