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Welcome to Roger's Economic Rant

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Late May Economic Rant - Roger Mason

"The public will believe anything, so long as it is not founded on truth." ... Edith Sitwell (1887 - 1964)

 

BIN LADEN DIED ON DECEMBER 13, 2001 AT TORA BORA. This was common knowledge, especially in the intelligence community. Go to the website www.prisonplanet.com and look at the Alex Jones video to see the extensive proof of this. Also, look at his video exposing the Obama fake birth certificate. No, Alex Jones is not a real patriot, but he does have some good things to say at times. 99% of the sheeple bought the Bin Laden story hook, line, and sinker!!! They'll believe anything the media tells them. Bin Laden has been dead for 10 years now. They have no photo, and dumped someone at sea. They can't even keep their stories straight. A badly done photoshopped picture was released, but had to be withdrawn. The Muslim religion has nothing to do with burial at sea, or burial within 24 hours. Just Google "Bin Laden hoax" or "Bin Laden fraud" if you want to know more. While you're at it, Google "al Qaeda hoax" or "al Qaeda fraud" to see this is purely a fabrication of our government. There is no al Qaeda!!! Also Google "How the U.S. invented al Qaeda" and you'll find factual videos that will convince you. Over a trillion dollars of YOUR tax money has been wasted on these evil wars of aggression. Ten years, and two wars, and America soldiers dead and wounded, all for nothing. Hundreds of thousands of innocent people in the Mideast murdered. We're going to pay for this evil. Yes, we are.

 

A good organization to support is Institute for Energy Research. Please support them if you can. They tell the truth about oil, gas, coal, nuclear energy, and expose the green energy hoax of windmills, solar, and biofuels. www.instituteforenergyresearch.org. Help them pay for their TV ads. Folks, we have 200 years of known oil reserves, 200 years of known natural gas reserves, and 1,000 years of known coal reserves. We can make SASOL gasoline, diesel, and jet fuel from coal for $2 a gallon, but the government won't allow one plant. There is no "energy crisis", there is no Peak Oil. It's all a scam to control you. Obama loves to repeat, "America only has 2% of the world oil reserves." We have four times more known oil than Saudi Arabia, and may discover a lot more.

 

Get the free NIA (www.inflation.us) newsletters but do NOT support these people. They just claimed Bin Laden was killed last week. Morons. They sell crappy stock advice for $1,000 a pop. The ironic thing is that there newsletters and videos are very good otherwise. Go watch their videos for free. Their latest is the College Scam. They know silver is what's happening.

 

The Big News in the May Rant was that the silver manipulation is finally collapsing after more than twenty years of the big banks holding down the price. Two things happened- the available (dealer) silver stocks fell an amazing 8 million ounces from 41 million to only 33 million ounces. 2) The COMEX net short futures position fell a huge 10,000 contracts of 50,000 contracts to only 40,000. They cannot manipulate the price with a mere 40,000 contracts. The available inventory will keep falling from 33 million ounces. The net short futures positions will keep falling from 40,000 contracts. THE MANIPULATION IS OVER!!! Silver is still in heavy "backwardization" where the futures price in 2015 is LOWER than the spot price today! Silver is going to the moon to refuel for the trip to Pluto. You are going to see $100 spot silver, or better, by Christmas folks. Your poor old author has been long COMEX silver futures for over ten years now, when it was $5. That's right, your poor old author turned $20,000 into over $1.5 million dollars in 11 years. When silver goes back to $49 that will be well over $2.5 million. Four contracts eventually went to sixteen contracts, and that was as much as my blood pressure could stand. SILVER did it, not intelligence, ability, business acumen, trading experience, or anything else. Faith in silver. No, you should not buy any commodity futures contracts. This is a specialty investment only for the experienced. Your poor old author sold his massive short U.S. dollar futures position.  81 cents to 72 cents is a nice cent profit, or $9,000 a contract. The dollar will rally and then keep falling. It is already back to almost 76 cents. Remember $50 silver in 1980 would be about $150 today due to inflation over the last 30 years.

 

Silver bottomed around $33, and is already taking off again. Soon we will have two prices for silver: 1) the fake spot official price, and 2) the real price people get when they actually buy and sell it. We are running out of physical silver, and it cannot be mined to keep up with demand. Soon there will be none for sale to consumers. All silver will be strictly rationed by the government to industrial users, who must have it to survive. The only five silver stocks you should be holding are First Majestic, Impact, Great Panther, Endeavor, and Sabiana. Do not buy silver stocks. It would be great to sell the stocks and buy bullion, but their prices are so low it's just not a good idea. Why sell the stocks? Because Mexico has collapsed, and the drug cartels have taken over the country. You cannot invest in Central or South America. Peru is going to tax all the mines. Bolivia just nationalized all their mines. Every country south of Texas is going to end up outright Communist, with total government control of the industries.

Advisors who tell you to buy Silver Standard, Pan American, Silver Wheaton, Fortuna, Silvercorp and the rest of the popular stocks are idiots.

 

When is the right time to buy silver bullion? When you have money in your pocket. That's the right time. Buy and hold and add on dips. Buy value and hold for the long term. Never trade. You must buy physical bullion and hold it yourself. No paper silver of any kind, no storage programs. We are soon going to run out of physical silver. Only industrial users will get it and only by strict government rationing. Why isn't anyone else warning you about this? Many countries are already out of silver, and none is available. Extreme premiums and long waits is the only way to get any. If you get any. Look at the high premiums on ebay.com for silver. Yes, soon there will be two prices for silver- the "official COMEX" price and the REAL price you pay to get some. Soon the COMEX will require 100% equity instead of 10%, so there will be no leverage. The U.S. Mint has no silver. The military has no Strategic Stockpile. COMEX is down to 32 million ounces, and probably has only a fraction of that. London Bullion has been out of silver. Silver dealers have no silver. The few who do are charging high premiums.  Silver will be the Third Bubble Mania folks, after the Tech Stock Bubble, and the Housing Bubble. Right now, not one person in a hundred owns any silver.

Most of the few that do don't even own enough to matter. When the sheeple pile into silver, the price is going to go ballistic. When the sheeple own silver, and CNBC is telling us to buy silver, then we'll sell all of ours to them. That will be proof of the top. Just like the Tech Bubble and the Housing Bubble. It will be very clear.

 

Folks, we keep begging and pleading for you to dump your IRA or 401k, take the penalty, and buy silver bullion. If you don't do this you will starve in the street with your dumbassed friends. 1) The stock market is going to crash- whether it is next month or next year. 2) The government is going to seize your IRA or 401k. They will turn it into worthless Treasury annuities at 3%, while inflation will probably be about 20%. Other countries have done this. America will do this. Argentina did this. Ireland just did it this week by heavily taxing all private pensions. The Irish annual 10% tax will destroy your savings in just a few years. Of course all government workers were exempt. That may well happen here since nearly all government workers vote Democratic (not that it matters). IT IS GOING TO HAPPEN. Dump your IRA or 401k, and take the penalty. Turn it into silver bullion and hold it yourself. No paper silver. No storage programs. Not even silver stocks. If you don't do this, you deserve what you get! Lots of readers have written into say they finally did the right thing here. Some had very little savings. Some had hundreds of thousands of dollars saved. The less you have, the more important it is you do this. If you have, say, $100,000 in your IRA/401k and sell it, you'll end up with about $80,000 in cash. Within five years that $80,000 will be about ONE MILLION DOLLARS when silver hits $400. No, the dollar won't be what it is today, but you'll be rich, and your brain dead sheeple "friends" will be starving in the streets.

 

Look at the above chart. This is how severely the COMEX silver stocks have fallen just in the last two years. From almost 90 million to about 30 million ounces. This is the largest silver cache in the entire world, and they are running out. The COMEX is self auditing, like Ft. Knox. That means no auditing at all. The COMEX only has a fraction of the silver they claim and Ft. Knox has been empty for 50 years. Google Ft Knox is empty to prove this.

 

The housing market continues to collapse every month, while the media tells you this is a great time to buy a home. It couldn't be a worse time! Commercial real estate is collaping along with it. Businesses are closing every day. More and more shopping malls and strip malls are disappearing and looking list ghost towns. If you want to buy a house wait for a few years and you can get the media U.S. home for $100,000, or 250 ounces of silver. You read that right. 250 ounces of silver today is less than $9,000.

 

It has been common knowledge Bin Laden died on December 13, 2001 in Tora Bora. He had severe kidney disease and there are not a lot of dialysis machines in caves. It was getting embarrassing looking for a dead man after ten years. So this whole charade was concocted to raise the pitifully low approval ratings for Obama. It worked- for about one week. Then they fell again. This proves the total stupidity of the American public to swallow such a badly done hoax. The typical American is totally brain dead and doesn't care that they are.

 

 

THIS CHART SHOWS THE STOCK MARKET IS ABOUT TO COLLAPSE AGAIN! Look at this five year (2006-2011) New York Stock Exchange chart of investor leverage. The stock markets are about to go. Investors have the same negative net worth as they did in 2007 when the housing bubble burst. For months now we've told you the stock markets are held up by bubble gum, duct tape, and media propaganda. (Courtesy of zerohedge.com). Right now Dow Theory tells us the DJI, DJT, and DJU are all strong. All must rise or fall together to validate the strength or weakness of the markets. The stock markets may well crash this year in the next eight months. Notice how all the economic indicators are collapsing- except for the stock markets. This is due to government manipulation and intervention as well as endless mass media propaganda. Just listen to the networks tell you to "buy stocks".

 

 

This is a real sign in Kenya. Anyone with a brain knows he was born in Kenya and cannot legally be president. It doesn't matter anymore. It's a dead issue, but it proves this country has totally degenerated  into the exact opposite of what it started out as.

30% of American mortgaged homes are underwater!! This is only going to get worse and worse. It is ironic that we have tens of millions of homes and apartments empty, but rents are going up. Soon, banks are going to be forced to become real estate agents. They should have done that years ago. Why should home sit empty? The insurance companies REFUSE to insure empty homes.

 

"We hang the petty thieves and appoint the great ones to high office."
- Aesop

 

The real unemployment rate is really about 22%, and not the official 9%. Actually, it is much worse as 1) many people have just given up looking for a job and aren't coounted, and 2) many people have taken lesser jobs just to pay for their rent and food. It's going to get worse and we'll see at least 30% unemployment, and probably closer to 40%. We used to have 30% farmers just 75 years ago. Now we have 1%. Farm land is rising in price while all other real estate is collapsing. You will soon pay 30% of your salary for food, instead of the 10% you pay now. The future is in farming, but almost no one is willing or able to do that. There are food shortages around the world and they will soon hit here. One in seven Americans can't

(or won't) eat without food stamps. Notice how the prices go up in the grocery store every time you go there? It just gets worse from here. Americans are no longer going to eat like royalty for 10%. They'll eat like Third World people do and pay 30% of their salary. It is very hard to stock up on food. About the best you can do is store whole grains and dried beans in airtight containers. Forget that overpriced freeze dried crap.

 

 

This is a gold chart in Euros instead of U.S. dollars. Notice they had no correction. Isn't that interesting? No correction. The U.S. dollar is dead. After this short and very temporary rally it is going to keep collapsing. It is now 76 cents. If it goes to 79 cents your poor old author will go massively short dollar futures again.

Please read the following  28 statistics about the gutting of the U.S. economy. This will prove to you there is no hope at all, and the Much Greater Depression started a long time ago.

#1 According to the U.S. Department of Commerce, the U.S. trade deficit for the month of March was $48.2 billion.  That was up from $45.4 billion in February.

 

#2 The United States has had a negative trade balance every single year since 1976.           

  

#3 Between December 2000 and December 2010, the U.S. ran a total trade deficit of 6.1 trillion dollars.

 

#4 The U.S. trade deficit with China in March was $18.1 billion.  This is money that is not going to support U.S. businesses and U.S. workers.  If that money was actually going to our businesses and to our workers it would increase tax revenues.

 

#5 Since China entered the WTO in 2001, the U.S. trade deficit with China has grown by an average of 18% per year.

 

#6 During 2010, we spent $365 billion on goods and services from China while they only spent $92 billion on goods and services from us.

 

#7 Since 2005, Americans have gobbled up Chinese products and services totaling $1.1 trillion, but the Chinese have only spent $272 billion on American goods and services.

 

#8 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.

 

#9 According to a recent report from the Economic Policy Institute, between 2001 and 2008 the United States lost 2.4 million jobs due to the growing trade deficit with China.  Every single state in America experienced a net job loss due to our trade deficit with China during that time period.

 

#10 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.

 

#11 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

 

#12 Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.

 

#13 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.

 

#14 China produced 19.8 percent of all the goods consumed in the world last year.  The United States only produced 19.4 percent.

 

#15 According to the IMF, China is going to have the largest economy in the world by 2016.

 

#16 Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

 

#17 Back in 1998, the United States had 25 percent of the world's high tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China's share had soared to 20 percent.

 

#18 Manufacturing employment in the U.S. computer industry was actually lower in 2010 than it was in 1975.

 

#19 In 2002, the United States had a trade deficit in "advanced technology products" of $16 billion with the rest of the world.  In 2010, that number skyrocketed to $82 billion.

 

#20 Last year, China produced 11 times as much steel as the United States did.

 

#21 Do you remember when the United States was the dominant  

manufacturer of automobiles and trucks on the globe?  Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.

 

#22 In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.

 

#23 According to one recent study, China could become the global leader in patent filings by next year.

 

#24 China is now the number one supplier of components that are critical to the operation of U.S. defense systems.

 

#25 In 2010, the number one U.S. export to China was "scrap and trash".

 

#26 Thanks to our exploding trade deficit with China, the Chinese have accumulated nearly 3 trillion dollars in foreign currency reserves.  That is the largest stockpile of foreign currency reserves on the entire globe.

 

#27 The amount of the trade deficit that can be attributed to foreign oil is at the highest level that we have seen since 2008.

 

#28 It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year.  Their biggest customer is the United States.

 

Senate Bill 3081 from the 111th Congress would allow the U.S. military to indefinitely detain U.S. citizens that were considered a terrorist threat, "without being charged with a crime, without being read a Miranda warning, without trial, without access to their 5th and 6th Amendment rights and without their rights under Article 3 Section 3 of the Constitution based on suspected activity." That means YOU, not someone else. Having a shotgun with a large magazine is now possessing a weapon of mass destruction. That makes you a terrorist threat.

 

Now let's try House Bill 1800. That will extend the Neocon Patriot Act for six more years until 2017. The Republicans are doing this. Did you hear about it? Did any of the TV networks cover this? Did the 6:00 News bother to mention this abomination? No, they didn't. All these bills are being passed in secret. Every week police state bills like this are passed and you don't hear anything about them. Often you aren't even told after they pass.

 

That's it until June folks. Buy all the silver you can at $35. Go into debt if you have to. Prepare for the future in every way you can.

 

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