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Foster Publishing, Coin & Stamp   >  "THERE IS NO CREDIT CRISIS, NO RECESSION"

THERE IS NO CREDIT CRISIS, NO RECESSION

posted by silverbull on Jan 29th, 2008 at 4:47 pm

Another noteworthy article. Ken Gerbino says there’s no credit crisis and no recession. Inflation is what we should be worried about. Good news for metals.

The dollar will continue to go down as the Fed has decided to save the banks and flood the country with as much money as is needed to handle their crisis (the banks).

Gold is going up because this “crisis” handling means inflation is going to come back, possibly at the highest levels we have ever seen in modern times.


When Wall Street comes to it’s senses and realizes that the economy is now being flooded with money and none of the old money has disappeared and the Fed is indeed going to keep interest rates as low as possible, the U.S. stock market should not crash. The banking system will not collapse. Unfortunately what will happen is an explosion of inflation and that will be a crisis. Every lower and middle income earner in this country will pay for this bail out because their paychecks will now buy less and less in the future. Their standard of living will decrease. As usual the insidious paper money system will rob the poor and the lower and middle income earners (via inflation) and redistribute that wealth to the rich (the banks and the Wall Street firms that are being bailed out). There is no free lunch. But whenever one shows up, know that someone is paying.

The authorities have no choice but to inflate or have some major institutions go down. Eventually this will be an inflationary disaster. Gold will most likely go to $1500 within a few years. If one takes $850 gold and allows for only a 7% increase a year for 5 years – the price is $1200.


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