Richard, this is a great read. When the rest of the people in our business start listening and or reading about how bad it is, and you take a step back and look at whats being going on. And still going on here and the world is no way to come out of this. There are no more bubbles to bank on, and no one is going to spend the money's that our President is giving so that means his plans will not work.
Lets see here its hard to find tangible gold or silver, the barter and trade areas of sites like crag's list is over following, people are not trusting banks, people are trading in the safety deposit boxes for safes, over 80% of the American public are saying they will save and not spend there tax bonuses. The people are in survial mode and hoard mode this is why H.R.1 well never work for one, the next reason is as we barrow more money it weakens the whole country ( because are notes are really worthless no one believes in your dollar any more).
Heres the proof.
http://www.bulliondirect.com/catalog/selectProducts.do?category=3
last year there was over 50 different items for purchase now 13 if it is not delayed ( btw the price does not cover there 17% .
and
http://www.bulliondirect.com/catalog/selectProducts.do?cat=Bullion_Silver&category=1
there was over 50 items you could have purchased 6months ago now again down to 13.
( notice there spot price no where near what they show for todays spot and there again does not include there 17%)
http://www.businessweek.com/ap/financialnews/D964APMG0.htm
Please look up what the market did today and think about how much it went up when you read this story. It was not on good news it was on a company that does and is all about tangible gold and silver. please also look what other mining companies are doing in the markets . (very well)
http://www.marketwirecanada.com/mw/rel_ca.jsp?id=945359&k=
Please read the note carefully. Then find out what Canada's # 1 export is right now (HHMMM let me think) its the gold maple leaf 1oz coin.
http://uk.reuters.com/article/oilRpt/idUKHKG1616320090204
nothing else needs to be said.
The last thing i can tell you that US banks Bgs are not being excepted for some commodity deals out there. Also there are many companies that are using gold and or diamonds as collateral for big lines of credit.
For a closer as you watch oil and gas prices creep up you will see the dollar go down again and gold go straight up.
chad deRousse
