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Welcome to Roger's Economic Rant

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Late December Economic Rant -Roger Mason

The economic situation continues to worsen not only in the U.S., but the whole world. Weíre already in a recession. Donít wait for a recession, because weíre already in one. The Greater Depression is only a few years away. The last depression was almost 80 years ago, and will look like a picnic compared to the coming one. Consumer spending is falling because people are broke, and their credit cards maxed out. Social Insecurity was broke decades ago. Anyone who depends on the government to take care of their retirement years deserves exactly what they get. The money you paid into this pyramid scheme all your life is GONE. All pyramid schemes like this end in total disaster.

True inflation is running about 15% now, not the less-than-3% the government claims. The U.S. dollar basket of international currencies is about 75 cents (it used to be $1.45) and headed for 40 cents. You can see this every time you go to the grocery store. There are no good currencies on the face of the earth. All currencies are frauds including the Swiss franc. Silver and gold are the only real money as mandated by the U.S. Constitution. Silver has far more potential than gold, and will† most probably return to its traditional 15:1 ratio. That could mean, for example, $3,000 gold and $200 silver. Thatís right- $200 an ounce silver is going to happen. We are out of silver, and 90% of it comes from byproduct mining. Silver is not an option; itís a necessity for modern life. You canít even make a phone call without silver in the circuit. You cannot replace it either. Did you know the Russian, Chinese, and Arab governments are buying all the gold they can get while the stupid American and European governments are selling what little gold they have left?

Ft. Knox is almost empty and hasnít been audited in decades as required by law. We have an 8 trillion dollar trade deficit. That isnít even comprehensible. Sales of T-Bills and T-Notes are the lowest in history and this means total economic disaster. We cannot continue the charade without exporting our debt. The stock market couldnít hold 14,000, canít hold 13,000, and will collapse to about 5,000. Look for a 10,000 Dow in 2008. The stock market is a disaster waiting to happen, a house of cards ready to fall. Sell your IRA or 401k if you canít convert it to silver stocks. The Fed lowered interest rates again which is the worst thing they can do. The stock market crashed 300 points instead of rising as it was supposed to.

The budget and trade deficits are completely unsustainable. Unemployment is much higher than the official figures state.† Crude oil will go back to $100, and gasoline is heading for $5 a gallon. In 1998 oil was only $11 a barrel; can you believe that? America moves by truck, and diesel prices affect every item you buy. We have no refineries due to the EPA. Oil is useless unless you can refine it. The energy crisis is a complete scam. Ethanol is another scam and cannot in any way to compared to sugar cane ethanol in Brazil. We have an almost endless supply of the energy group coal, natural gas, oil, and uranium.† Global Warming and the Kyoto Treaty are more scams by people like Algore and Billary who want a one world government. Freddie Mac and Fannie Mae now hold about 5 trillion dollars in bad mortgages, and have their hand in almost half of all mortgages. Freddie and Fannie are broke. The government has no business writing any mortgages at all. YOU, the taxpayer, will pay for all this stupidity. Letís say that again- YOU, the taxpayer, will pay for this government fiasco. There are now almost a one year backlog of unsold homes- and the builders are still trying to build new ones. The home builders are all broke. Yes, you will see homes sell for a quarter on the dollar based on summer 2005 peak prices.† If you plan to retire in the home you have this is not relevant. Commercial real estate is also a disaster, yet you see stores and offices still being built. The major banks are all broke folks. All the crooked home loans they made have come back to haunt them. Repossessing homes now is a disaster, not an advantage.† California home sales are down 40%. Millions of adjustable rate mortages in 2008 will cause countless more foreclosures. This will continue for three more years. On December 6 Bush foolishly tried to bail out the morons who bought homes they couldnít afford with his ďmortgage reformĒ plan. You never reward stupid people buying homes they canít afford. Itís all hot air anyway. Huge, established corporations like Harley Davidson, Dow Chemical, Home Depot, Bristol-Myers, and Sears are going broke. Sears profits alone fell 99%. The auto companies Ford, Chrysler and GM are already broke, and just havenít admitted it. Chrysler alone will lose almost 2 billion this year. Christmas sales are going to be the worst in history. Charities are suffering because people have no money to give to the causes they believe in. The state governments are all going broke since the tax base is falling and will keep falling. There are an estimated 500 trillion dollars in derivatives. This is more money than exists on the face of the earth. Thatís right- the estimated total value of derivatives is greater than all the money in circulation on earth. Warren Buffet said they are an economic neutron bomb waiting to go off.† These are all going under, along with giant derivative-laden corporations like General Electric.

Put assets offshore if you have enough to do so. You can legally take all the money you want to out of the country. Just buy gold Krugerrands, fill out the customs form, and leave the country. $250,000 is only 25 pounds (300 Krugs) and fits in four short PVC tubes. Only bank accounts and stocks must be reported, not gold bullion. Obey all the laws or you will end up in jail. The Iraq war is illegal, and the president cannot declare war without congressional approval. This war is the worst mistake America has ever made in over 200 years, and the rest of the world hates us for it. Over 70% of Americans admit this is a disaster, and we should leave today. Bush now has only about 12 more months to attack Iran. Heíll find a way to do it, even though 80% are intelligent enough to oppose this. Vote for Ron Paul. He is the only one who will end this war. Go to www.ronpaul2008.com and donate all you can for his campaign. Would you rather see a homely, neurotic, openly Marxist lesbian as your president and commander in chief?

There is only one thing you can do to protect yourself and profit from disaster- buy silver bullion and silver stocks. No paper silver- you must hold the actual metal yourself. There are only about 50 real silver stocks, and half arenít worth owning. This leaves about two dozen. Quaterra is the best silver stock in the world. Silverstone, Impact, Silver Wheaton, First Majestic, Endeavor, and ECU are more good choices.† Buy and hold for the long term. Add on corrections, and never chase the price. Silver and silver stocks are extremely volatile. Ignore the short term ups and downs and hold for the long term.

Still donít believe we live in a police state? 1 in 31 Americans is either in jail or some form of supervised release (bond, parole, or probation). This is a far higher rate of incarceration than any country on earth including Russia, China, North Korea, and Cuba. The Constitution and Bill of Rights are fond memories.† Have a Merry Christmas and God bless all our loyal customers. Itís all due to you.

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