Stocks, Gold, Silver, and the printing press.

[smokingman]

October 13,2010
JPMorgan beats all earnings estimates(with this little note "The provision for credit losses, the funds set aside for the allowance of bad loans, was reduced to was $3.2 billion, down 67% from a year ago."So there actual "profit" was 1.2 billion...and even that is doubtful.
DOW 11096 (+75)
Gold $1374.5(+4)
Silver $24.04(+.78)
Everything is up.Including staples we need.Corn is up 15% in the last 6 days.
Rally likely with very few down days now that the "banks" are in the clear until the next fed meeting.

This while the wheels come off.
Just curious if anyone else has put any thought into the huge disconnect between reality and what we are seeing?If I can figure this out and understand why it is happening anyone can.I see just an out right destruction of the middle class in the USA.It is deliberate and obvious.Plan well.

 

[patience0830]

buy lead

October 13,2010
JPMorgan beats all earnings estimates.
DOW 11096 (+75)
Gold $1374.5(+4)
Silver $24.04(+.78)
Everything is up.Including staples we need.Corn is up 15% in the last 6 days.
Rally likely with very few down days now that the "banks" are in the clear until the next fed meeting.

This while the wheels come off.
Just curious if anyone else has put any thought into the huge disconnect between reality and what we are seeing?If I can figure this out and understand why it is happening anyone can.I see just an out right destruction of the middle class in the USA.It is deliberate and obvious.Plan well.

I'm still buying bullets.

 

[smokingman]

I'm still buying bullets.

oh I agree.That was the point of starting this thread

 

[88GT]

This thread is frightening.

 

[U.S. Patriot]

The problem is for many. Is they do not have a lot of extra money for a nest egg. Like me for example. I have enough to pay my bills. Then still have some left over for my hobby. Which is of course firearms. Could I put money back yes. However it would be minimal at best every week. In other words it would not mount to much. If things really get bad. I think guns and ammunition will be commodities. You can trade ammo for things you need. Such as food clothes etc.

 

[SavageEagle]

The problem is for many. Is they do not have a lot of extra money for a nest egg. Like me for example. I have enough to pay my bills. Then still have some left over for my hobby. Which is of course firearms. Could I put money back yes. However it would be minimal at best every week. In other words it would not mount to much. If things really get bad. I think guns and ammunition will be commodities. You can trade ammo for things you need. Such as food clothes etc.

Not smart to barter things that can come back to bite you in the ass later.

The best thing to do is pay your bills and start stock piling anything you need to survive for at least a year. After that, all bets are off. Stock pile trade goods little by little. Cans of tobacco, alcohol, SKILLS, books, medical supplies... There's a very good thread with a VERY good post from Jerry D Young in the Survival section of INGO on things to barter.

 

[smokingman]

The problem is for many. Is they do not have a lot of extra money for a nest egg. Like me for example. I have enough to pay my bills. Then still have some left over for my hobby. Which is of course firearms. Could I put money back yes. However it would be minimal at best every week. In other words it would not mount to much. If things really get bad. I think guns and ammunition will be commodities. You can trade ammo for things you need. Such as food clothes etc.

You do not want to put ANY money back.It is becoming more worthless each and every day.The dollar index has gone from 83.22 on the 1st of September 2010,to 76.26 on October 13,2010.Roughly 9% down in 45 days.It is going to get much worse as the FED buys more treasuries.
The best thing you can do is stock up on things you need and use.
After hours
Gold hit 1386.93 this is another new all time record high.
Daily Gold Chart - 24 Hours Live Gold Price Chart Intraday
The Japanese Yen is moving higher.This will force them to do the same thing the FED is doing here.Print even more money.It is so close to a full on currency war.Japanese Yen: CURRENCY:JPYUSD quotes & news - Google Finance

This is like watching a fuse burn....

 

[dukeboy_318]

Wow, after reading this im glad im not the only one thinking the bottom is about to fall out.

 

[localone]

The stock market is on the rise until the rich think they have enough people thinking it is safe to invest again...then they will sell and all the poor saps will lose there life savings again...It seems to be a legal way of robbing the american public. It amazes me with all the foreclosures and unemployment out there how th stock market is on the rise because of public faith in the system

 

[smokingman]

I know many did not read this thread when I started it.A few took notice after the first bump,and more daily now.But if one had read it on the first day and purchased silver...they would already be up over 25%.
On another note the Australian dollar is worth more than the US dollar,for the first time in history.This just happened today.
Australian Dollar Exchange Rate Graph - US Dollar - Historical Exchange Rates

 

[patton487]

Silver is up 60% from just 8 months ago. Something is going on and I don't think we are going to like the end results. Peoples life savings are shrinking every day and will be wiped out.

We are looking at what I believe to be a deliberate wrecking of our economy so that we will have no choice but to be "Euro-ized" and fall in line with the rest of the world. Just the first step towards the Amero currency, erasing the borders between US, Canada, and Mexico. UN troops in the streets and, of course the trashing of the 2nd am.

If you are starving and broke, you will comply. You will have no choice.

Personally I would cash in and buy some hard assets. Good luck...

 

[smokingman]

The stock market is on the rise until the rich think they have enough people thinking it is safe to invest again...then they will sell and all the poor saps will lose there life savings again...It seems to be a legal way of robbing the american public. It amazes me with all the foreclosures and unemployment out there how th stock market is on the rise because of public faith in the system

Stocks are only up because the dollar is falling.The same stocks are worth more dollars as the currency devalues.
Think of it this way if you have a company worth 1 million "dollars" and then your dollars are devalued by 10% your company would be worth 1.1 million.The value of the company did not change,the value of the currency did.This is the ONLY reason stocks markets are up currently.They are being propped up by the FED printing money,buying assets,treasuries and anything they can get there hands on to devalue the US dollar.
It also means everything we NEED will dramatically increase in price.

The fed has only spent 5 billion of QE2.The last meeting they talked about spending up to 2.9 TRILLION! So the dollar has lost 9% with only 5 billion....how much value do you think it will have after another couple trillion?

 

[ATOMonkey]

The stock market is on the rise until the rich think they have enough people thinking it is safe to invest again...then they will sell and all the poor saps will lose there life savings again...It seems to be a legal way of robbing the american public. It amazes me with all the foreclosures and unemployment out there how th stock market is on the rise because of public faith in the system

If you're waiting on the stock market to rise before you invest, you're doing it backwards.

 

[henktermaat]

Subscribing. might be a good time to convert the emergency fund into bullets and food.

 

[ATOMonkey]

Food is always a good hedge, because it's practically guaranteed to go up in price, and you are guaranteed to need it in the future.

 

[Brown]

Smokingman I am in agreement with you. The bottom is about to fall out and it will start in earnest soon as the elections are over and the Fed cuts loose with QE2 in earnest.

there is now a currency war on with other countries trying to devalue their dollars and tax cheat Geitner demanding to China how to handle their currency!

We started buying Food,Ammo,Guns,Staples,Silver,Gold about 2 years ago in small increments and have been increasing as we can. To all of you that think there is not enough left to put anything away I thought the same thing but little amounts add up.

The sheep out there thinking the Dow being up is a good thing need to realise the only reason it is up is due to manipulation by the Feds and the big banks.

the next 6-12 months are going to be a very interesting ride

 

[Lucas156]

Is it really a good idea to change your emergency fund into bullets and food?

 

[ATOMonkey]

Is it really a good idea to change your emergency fund into bullets and food?

Depends on how bad you think things are going to get.

It's never a bad idea to diversify, and that can include commodities like guns, bullets, food, fuel, precious metal coins, etc. Commodities are typically a good hedge against inflation.

 

[smokingman]

Well they changed the game today.
"U.S. Treasury debt prices fell on Thursday following a poorly received auction of reopened 30-year Treasury bonds as traders closed out bets ahead of a speech by Federal Reserve Chairman Ben Bernanke on Friday."
That auction was not supposed to happen at all today.There where no 30 year notes for sale.What happened was a sell off in US Treasuries to the point they had to reopen an already closed auction.The auction went poorly.

TREASURIES-Prices undermined by poorly received 30-year sale | Reuters

In other words no one wanted to buy them,and the FED did not step in to purchase them.Bernanke was busy giving a speech about how great it was that the US dollar is losing value and how they would continue to devalue it.

Markets closed down less than .2%
Gold 1377.6 another new record close.
Silver 24.66 another 30 year high.
October 14,2010

The dollar is failing,even the main stream media has picked up on it.
The Buzz: It may soon be time to worry about the weak dollar - Oct. 14, 2010

Do what you can now to preserve your wealth.Prep. Buy things you need and consume(soap,TP,Food,razors,ect...)and hang on.

There was a question from someone about spending there emergency funds.I would not spend them,but i would convert them fully away from the dollar.Silver would be my choice at this point.Physical silver,not an etf.

 

[Lucas156]

There was a question from someone about spending there emergency funds.I would not spend them,but i would convert them fully away from the dollar.Silver would be my choice at this point.Physical silver,not an etf.

Have you yourself done this?