Junior Mining Outlook



Junior Mining Outlook > Group's Default Discussion > Are we in the clear? View modes: 
  • Are we in the clear?

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    I am in no way trying to be a wet blanket nor am I trying to scare anyone into selling off. But the sad reality is that we could be falling right back into that gigantic crater that was created 2 years ago. It has been reported that the FDIC has recently shut down another 6 banks in the United States. As we draw to the end of 2010 a total of 157 small banks have been shut down (329 small banks since 2008 - source FDIC website) indicating the clean up methods, ie bailout, that were to be implemented either have not worked or have been circumvented. Instead of sounding the alarm, this news is being met with a yawn by the mainstream media.  This is a record for the new millennium and proof positive things are NOT getting better.   On the big bank front, many say they are hiding the fact they are insolvent!  The Market-ticker.org headline says it all “System Was Insolvent In 2008 (And Still Is)”.  It appears that we are clearly facing a systemic solvency problem, but few people realize just how bad the economy really is.
     

    From Jim Sinclair:

    Economist John Williams has been warning of an economic collapse for a few years.  In his latest Shadowstats.com report, he says, “. . . the U.S. remains the proverbial elephant in the bathtub in terms of pending effective sovereign bankruptcies.” Williams thinks it will all hit the fan within 6 months and is predicting a dollar catastrophe.  Europe is a sideshow to the coming main event.  Williams says, “The various European crises remain an intermittent foil for the U.S. dollar, pulling market attention away from the unfolding solvency crisis in the United States and a likely move to massive selling against the U.S. currency.  Accordingly, high risk of the early stages of a hyperinflation beginning to unfold by mid-2011 continues.”


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  • RE: Are we in the clear?

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    The US is exporting their recession elsewhere.

    eg. two Canadian banks just bought some more troubled US banks.

    and all their assets are targets for takeovers during these times of crisis.

    eg. oil, potash, coal, etc. (the Chinese are on the hunt for these as well)

    so you can buy silver/gold but the shopping stores dont accept them.

    you need to look at charts of stocks which were unaffected during the crash of 2008, if there is another leg down.
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  • RE: Are we in the clear?

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     I really doubt it at this point in time. I'm a believer that the U.S is in very serious trouble and the markets are being manipulated. The bottom line is this...If every American or Canadian citizen tried to withdraw their money at the same time from an ATM machine or bank  the "cash" will not be there for immediate withdraw. Could you imagine the panic that would cause ? If you were able to contact the bank they would ask if you had a credit card...get the picture.   Prepare yourself for the worst case scenario my friends, keep cash on hand and hold physical precious metals if possible....actual gold or silver wafer bars are preferred.

     Best of luck to all in 2011

     Mrcashflow
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