| Letters
to the editor from this week's Chronicle Redneck Review! No. 340 - 10/31/21 Are we facing an economic abyss once again? Followers of the news and the spending habits of our national government might be wise to look back a few years and note what happened in the years following 1987 and 2008. If too young to remember, a peek back on Google and the few years after each date you see above will make you a bit nervous! In both periods, a rapidly expanding economy fueled by easy money and credit began a very significant "crash" or a "major adjustment" some might call it! Other very notable commentators will simply say again, the "bubble burst!" Do your own research! Read the details of the suggested causes and the final results! Also, pay close attention to the methods used by our government to pull us out of these two disastrous downturns! Is it not true that the very same conditions are with us again? And do not all the signs tell us that we are "on the brink" once again of another major "adjustment" coming, or you might use say again, "Another bubble is about to bust?" Read James Rickard's book THE ROAD TO RUIN, written in 2016, where Mr. Rickards took a serious financial hit during the first downturn mentioned above, then predicted the second, and finally on p.127 of my copy of his book, made a statement like: "The same conditions are happening again and this time it will be even more difficult to come out of it." While at it, you might investigate his free book "THE NEW CASE FOR GOLD" available to those who log onto Google with "Books by James Rickards." And if you become convinced that gold is a good investment for tomorrow, recall Peter Krauf's claim here two months ago, that "Only silver is today half of its high of about $50/oz, 41 years ago.(spot today is $23.95). And he added that silver would have to match gold's price today, (spot today is $1793/oz!) if it would catch up with the rate inflation has driven up gold and the S&P 500 current reading! For a more up to date peek at what is going on and being said about the current status of our economy, think about some of the following quotations from the very best newsletters of about six that I read always, Investment Rarities twice-a-month bulletin called MARKET UPDATE! These newsletters have been quoting experts in the field of gold and silver for years, but only recently in the last few months have the tune of the comments turned more and more to silver, inflation, and the precarious state of our economy. >From Theodore Butler, perhaps the best known expert on silver and its price structures over the past several decades (Google "Ted Butler" for info on this gentleman), comes a couple of comments from the above Market Update: "Silver prices have fallen more than gold prices, yet silver is more tightly held than gold. I'm very bullish... on much higher gold prices... but it is downright shocking how much stronger are inventory holdings of silver....Silver...is the tightest and strongest held of all commodities and investment assets...all we need is some minor price gains...to get silver on its incredible journey to the heavens." (Do not forget the quotation from Peter Krauth last week and above, who claimed "Silver would need to be nearly $1900/oz, if it would catch up with the inflated prices of every thing else in the last 40 years.") Again from Butler. "Despite knowing silver has been manipulated and suppressed...for nearly 40 years by illegal trading practices...I wouldn't have believed they would be able to push silver prices to lows not seen in a year, as other metals, copper and zinc have soared to new highs." And again, "We are at the very start of what will be the most impressive price rises the world has ever seen...because it has taken so long to unfold...There is no way the true shortage in silver will remain hidden in the face of growing shortages in everything else." Jake Wren |
|