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3/4/2010
NEW YORK (CNNMoney.com) — More bad news on the housing bust front: Nearly 25% of all mortgage borrowers were underwater, meaning they owe more on their loans than their homes are worth. First American CoreLogic, the research firm that monitors housing equity, reported Tuesday that 11.3 million homeowners or 24% of all homes with mortgages — were underwater as of the end of 2009. That’s up from 23% and 10.7 million borrowers three months earlier. Nevada wins the boobie prize with 70% of all mortgaged properties underwater, next was Arizona with 51%, then comes Florida with 48%, followed by Michigan with 39% , that disaster area known as Detroit is really dragging Michigan down. Detroit has the lowest median housing prices in the country at $7,500 and some houses are being sold for just ONE DOLLAR! Lastly, California is at 35%. Did you know that Californias economy is the fifth largest in the world? I predict that California is the first state to go bankrupt. For many homeowners being underwater has few consequences, if they’re not planning to sell and can afford their monthly bills, they can wait out the downturn. My suggestion for people in that situation, especially if they are also carrying credit card or other consumer debt is to get on the Pay it Off System to help them quickly pay off their mortgage and debts and build equity back into their homes, for more info go to: www.teampayitoff.com.
For others however, being underwater can spell disaster! If they lose their jobs or have a financial emergency they have no equity to tap into. They can’t even downsize or relocate to find another job because they cannot sell their homes. That’s why it is SO IMPORTANT that they build equity back into their homes and on the wealth building side I suggest they purchase a whole life insurance policy with some of their funds. I will go into the benefits of taking out a whole life policy in another missive. Negative equity is a significant drag on both the housing market and on economic growth says Mark Fleming the chief economist with First American CoreLogic, it is driving foreclosures and decreasing the mobility for millions of homeowners.
Traditionally, being underwater was one of two main factors in determining a borrower’s likelihood of foreclosure. The other is having sufficient income to pay bills. But, there’s an increasingly important exception: strategic default. As equity gets more and more negative, (as the home prices continue to decline) some homeowners are choosing to quit paying and mail the keys back to the bank and walk away, But that isn’t as easy as it sounds, there are still legal consequences that have to be dealt with. I suggest you discuss this with an Attorney that has knowledge in the Real Estate arena. As long as we have falling housing prices we will continue to have homes with negative equity, no one is quite sure how to remedy this situation certainly not the Federal Government!
A new study has been released that estimates that 5 million houses and condos on which mortgages are now delinquent will go thru foreclosure and be put on the market within the next few years! Another devastating housing crisis would absolutely destroy the vast majority of small to mid sized banks in the U.S. In such a scenario the FDIC would be able to make use of the new facilities that they are opening up around the country. I just read that they are planning a huge 100,000 sq ft facility in the Midwest. There are even rumors that the big banksters do not intend for most small and mid-size bankers to survive the coming crisis. There are whispers that the big bankers see all of this economic turmoil as a great opportunity to “consolidate” the banking industry. So what should you do to get your family protected and prepared? Get out of Debt any way you can, use mortgage acceleration programs, debt settlements, mortgage modifications, downsize, and get rid of unnecessary expenses. Try to start developing alternate streams of income and come up with a plan for what you will do if you lose your job. The Reality is that hard times are coming and a lot of people are going to lose their homes and their jobs. Please don’t blindly trust the System, now is the time to make sure that you and your family will be prepared even if a total economic collapse develops.
Here are a few interesting facts I dug up this week:
Our Federal Government (OBAMA) huff and puff and try to look like a champion of the people by declaring that NOW they want to put the Banks in their place – Ha, Ha, Ha. Did you know that the SIX BIGGEST BANKS hold more assets as a % of GDP today than they did before the financial meltdown? In 1995 the six biggest banks total assets were 17% of GDP AND NOW it is an astonishing 63% of GDP! In the next two years 500 to 1,000 small banks will fail. The six biggest banks will get bigger. The Federal Reserve is owned and controlled by these 6 banks, they own your legislators, QUITE SIMPLY THEY RUN THIS COUNTRY! When will the SHEEPLE wake up and understand that these are the scum bags who have ruined this great country, shipping jobs overseas and totally obliterated the middle class, while reaping enormous profits!
I think this is fascinating. The dollar is up strongly against every major currency in the world in the last 60 days except the Yen. Everyone knows that gold goes down when the dollar goes up. Not this time. Gold is hitting a 6 week high today. This tells me that the smart money is buying gold because they know that this supposed dollar strength is bullshit. Our currency is the best looking horse in the glue factory. It will eventually reach its true intrinsic value of zero. Buy gold.
If you have any questions or concerns or would just like to vent, you can e-mail me at: wayne@teampayitoff.com. I would be happy to look over your financial situation, run a FREE Financial Analysis for you and guide you in the right direction during these perilous times.
2/23/2010
Lately I have been feeling like I have been in the matrix movie, you know the one with Keanu Reeves? Where you do not know what is real and what is imagined. Right now in this country and in the World there is a BIG difference between reality and what the Governments and their News agencies are telling us. Every statistic the Feds release is bogus, from Inflation, Unemployment, Foreclosures to Manufacturing, GDP and all the rest. To get more truthful statistics go to www.Shadowstats.com
Do you feel that you are financially better off now than you were 5 years ago? Well if you don’t you are not alone you have plenty of company! While the media bombards us with endless bullshit news and tons of commercial advertisements the reality is that we as a society are circling the drain.
You know a change is coming when the bankrupt Banksters are giving out outrageous Bonuses (up 17% this year), Athletes (even Olympic Ones) are raking in Multi Millions of dollars, the imperialist USA is spending Trillions on the BOGUS WARS in Afganistan & Iraq, while the majority of its people have been seriously downgraded. Unemployment in this country is really around 18% with most of those jobs never returning. We became a nation of consumers, we outsourced our manufacturing overseas in a bid to create consumer products at a cheaper price.
We have turned ourselves into the biggest Debtor Nation on the Planet, how did it come to this?
Believe it or not it is not totally your fault.
We were gullible and believed in the bullshit they were shoveling.
Stocks: Invest in the Stock Market and buy and hold and you will reap great wealth? How many of you bought into that one, over and over despite the fact that they continuously raped and pillaged us. Remember the Stock Market Crash of 1987? The Dot Com Bubble of 2000? How soon we forget!
If you didn’t lose all your investment money they manufactured the Housing bubble starting around 2003 and had many of us go all in buying everything from Condos to Mc Mansions, most with no or little money down! Well I guess most of you remember how that ended up. They weren’t finished, they
then gave us another fleecing in the stock market and really got us in 2007, not only destroying our portfolios but wacking our 401k’s and our IRA’s. Starting to see a pattern?
Along the way the Banksters gave us Sub Prime Mortgages, Huge Credit Card Limits, 0% Financing, Buy Now and Pay Later. Hell, we thought we were all Millionaires! (on paper anyway). Then we payed WAY TOO MUCH for our childrens Higher Education, its gotten to the point that you should SERIOUSLY be asking yourselves if this is a prudent choice, DAMN! For the same money you could have bought your kids a house or started a business for them, and for the poor kids that took out student loans, they are in for a lifetime of DEBT Slavery.
Take a look at this short video:
http://www.youtube.com/watch?v=I9q1oeMcoL0
I think you should SERIOUSLY rethink your situation and make the proper adjustments – right away!
GET OUT OF DEBT ANYWAY YOU CAN.
Get rid of the Mortgage.
Get rid of the Credit Cards.
Forget buying a nice new fancy car.
Use your investment money (what’s left) to get out of debt.
Buy some Physical Gold and Silver.
Start Living below your means, downsize if necessary.
If you have any questions or concerns I would be happy to talk with you.
I am now doing Mortgage Acceleration & Debt Elimination, Debt Settlements, Mortgage Modifications and Short Sales.
Wayne Isaksen
www.teampayitoff.com
wayne@teampayitoff.com
910 616 9504
Ways to help improve your odds for success, its Now or Never! Or you will be assured of a life of lower living standards and very grim retirement prospects!
Spend or save? That question will confound consumers for the next several years as they try in vain to rebuild their savings, lower their debt and in effect limp toward retirement. It is well documented that for the past decade Americans have been on a spending orgy, for about 40 years since World War II, Americans typically saved between 6% and 10% of their after tax income. The savings rate began to deteriorate in 1985 and for the past 5 years it has been as low as -1%. After the frightful events in 2008 with Americans typically losing up to 50% of their investment values, they have started hoarding cash and the savings rate crept up to about 4%.
While we were saving less we were also borrowing more and when the Real Estate bubble burst in 2007 the Atms in our homes were shut down and Americans really went to their credit cards in earnest! In 1960 the typical US household had debt that equaled about 55% of their after tax disposable income. For years that rose gradually as credit card borrowing, low down payment mortgages and all types of other easy credit for everything from automobiles, furniture, vacations became common. Then, all hell broke loose after 2000, peaking at 130% of income in early 2008. Even though it has been reduced slightly since then the fact is the typical family still owes more to lenders than it earns in a year.
How bad off is your family? Here are some figures from the Federal Reserve and the economists at Bank of America to help compare your own debt, savings and net worth to the national averages:
- The average debt-to-income ratio, or DTI, is 125 percent today. Economists roughly consider a 100 percent DTI ratio to be “normal” or healthy. So if you owed a combined $125,000 on your mortgage, car loans and other obligations and earned $100,000 in take-home pay, you’d want to pay down your debt by $25,000, or 20 percent, to be in the safe zone.
- The average ratio of household net worth to disposable income, or the wealth-to-income ratio, is 487 percent today. That’s lower than the average since 1993, which has been about 550 percent. The lost wealth is mainly because of declines in the value of homes and stocks, which is where many people have parked their money. Your net worth is a fairly simple equation: your mortgage balance and other debts and liabilities subtracted from your home equity, investments and other assets. So you can increase your net worth in two basic ways: Either increasing your assets or lowering your debts.
- The savings rate this year is about 4 percent. One mainstream assumption is that as the savings rate goes up, about 80 percent of new savings will be used to pay down debt, while about 20 percent will be invested in securities or other assets that pay interest.
Consumers become rational. Given the painful transformation of the U.S. economy, Americans ought to be saving like crazy and buying nothing they don’t need. Some are, but it’s not clear yet if Americans as a whole will save more over the long term or go back to spending nearly everything they have. The savings rate has crept up to about 4 percent, but that’s still lower than the long-term average and far lower than you might expect after a collapse like the one we’ve endured. If savings continue to go up–a prudent move for most households–consumer spending will come down, leaving a hole in the growth of our gross domestic product, with little else to fill it. So hopes for a vigorous rebound rest on spendthrift consumers being as materialistic as ever. Now there’s a strong foundation for success.
Well we find ourselves in quite a bind, These problems call for NEW SOLUTIONS,
That’s why I am Creating the DEBT FREE NATION TOUR.
I have assembled a group of financial experts to tour the Nation and give consumers some hope in a hopeless world. We will offer common sense solutions to Mortgage Acceleration, Debt Elimination, Credit Repair and Wealth Accumulation. More information and dates will be available soon.
Well dear readers as we come to the close of 2009
More questions remain than answers, many investment gurus predictions for 2009 have gone by the wayside.
Some were correct, most were not. Even a majority of the predictions that were spot on suffered from bad timing and timing dear readers is what it is really all about. It is timing that ultimately makes you a winner or a loser. But in the midst of the greatest Ponzi scheme of all (Government debt instruments) there is ONE investment that has reacted to the fiat moneysystem and that is GOLD.
Now some casual observations;
Is it me or are the days really flying by?
The government says things are improving, personally I don’t see it that way. (The banks are still sitting on a mountain of worthless paper)
Bank Failures are well over 100 this year, many more to follow in 2010.
Do you think the USA will really be able to pay off all that debt?
Is Tiger Woods a student of Mind Control gone bad? (Seems like it)
I know I feel better knowing that the government is reforming Health Care.
Are you deeper in debt NOW than when the year began?
I believe 2010 will be a real interesting year! – keep your eyes wide open!
What was the spiral light in the sky over Norway last week?
What happened to the Swine Flu?
Gold started 2009 at $858 and looks to end 2009 at $1,100 plus.
Where will it go in 2010? (Hint: at least $1500)
Suggestions for 2010:
Cut up your credit cards.
Live within your means – downsize if necessary.
Get out of debt (look at my website: www.teampayitoff.com)
Buy some physical GOLD & SILVER.
Keep repeating this mantra: DON’T WORRY, BE HAPPY.
TO ALL: HAVE A HAPPY, HEALTHY AND PROFITABLE NEW YEAR.
As I watch Gold being hammered by the Gold Bullion banks the last few days, all I can think of is they gave us a gift, the opportunity to BUY more Gold and Silver at lower prices. Their efforts are futile.
Please read this great paragraph from JSMineset.com
AND BUY MORE GOLD & SILVER!!
Paper Money Collapsing against Gold
The problem with paper money is that governments can create unlimited amounts. This is what they have done throughout history and especially in the last 100 years and which has led to the total destruction of most currencies. Most people don’t even understand that their government makes their money worthless. Money printing gives them the illusion of being richer whilst all they have are pieces of paper with more zeros on them. But there is one currency that governments can’t print which is gold. Gold has been real money for almost 5,000 years and it is the only currency that has survived throughout history. Gold can’t be printed and no government controls it. Therefore gold will, over time, always reveal governments’ fraudulent actions in creating money out of thin air. And this is what we are experiencing currently. Gold is not going up. Instead gold is doing what it has always done, namely maintaining its value and purchasing power.
What we are seeing currently is the total annihilation of paper money whether it is Dollars, Pounds or Euros etc. The chart below shows the US dollar against gold. In the last 10 years the dollar has declined by 79% against gold. Most currencies have declined by similar percentages. So it is an illusion to believe that gold is going up when it is the value of paper money that is going down. All gold is doing is to reflect the virtually limitless printing of paper currencies. Since gold can’t be printed, it is the only honest currency that exists. This is why many governments don’t like gold increasing in value against their paper money since it exposes their total incompetence in running their country’s economy.
As the Holiday Season rapidly approaches, Americans are in a vastly different economic situation than they were two years ago. We were getting warning signs of this current situation as early as the mid 1990’s.
Increased credit lines made using credit cards for everything from luxury vacations to purchasing automobiles to kitchen renovations that cost upwards of $80,000. We were indeed drunk with unlimited credit and we totally forgot about saving for a rainy day or retirement for that matter.
We figured Uncle Sam would take care of us with his unlimited social programs – well think again. Instead of embarking on a prudent path this Government initiated wars of its choice trying to expand its empire and enlarged the police state in this country. Not to mention wasting trillions of dollars trying to save zombie financial institutions that should be left to die for making horrible business decisions based on pure greed.
With the economic Winter approaching we have not prepared ourselves properly for what is ahead. There is precious little time left to get our Financial house in order. Just as it is prudent to prepare for the approaching winter by having the heating system checked, the car tuned up and winterized, storing some extra food and water in case of a bad storm, we must also make an effort to curtail our spending, increase our savings and pay off our debts as quickly as possible. Looking around me the majority of the citizens of this country do not have a clue!. The country is completely and utterly unprepared.
As I watch in utter amazement the ancient and possibly senile Congressmen bellow and blow smoke up each others asses debating the disasterous healthcare bill. I feel these are the wrong people, fighting about the wrong issues as this country is in the midst of an out in out crisis with debt levels exploding, the dollar being printed into oblivion and our grandchildrens futures being destroyed.
I feel we should be doing everything we possibly can to prepare ourselves for this economic winter storm:
Get out of debt using all solutions that are available to us, that is downsizing to a more affordable home or even renting a place, debt settlements or even bankruptcy if necessary, getting on a system to pay off your mortgage and debts quickly.
- Buy some gold and silver coins for some insurance against the coming inflation and destruction of the dollar.
- It is imperative that your families band together and work as a team.
- Strengthen your personal and business relationships.
- Store some extra food and water.
- And in 2010 vote these bastards out of office!
These are just personal rantings of a very concerned citizen who has watched this economic crisis unfold right before his eyes. Like it or not our leaders continue to make the wrong choices and worse they are trying to pull the wool over our eyes letting the masses think things are improving. But by now you know better – right?
An ounce of prevention is worth a pound of cure.
Every once in a while I come across a very important article that strikes the right tone with me. This article comes courtesy of Ken-Welch.com, parts have been upgraded with my personal contacts, I hope you find it as interesting as I did.
A number of independent financial commentators have been saying this week that we are at a pivotal moment for the stock markets. U.S. stocks have followed the same path as in 1929 almost perfectly. A sharp, earth-shaking decline followed by a strong fantasy rally based on talk of an imaginary recovery. On the 1929-30 charts, we are now at that historical tipping point where the long slide to oblivion began. This was the killer leg down, and the value of shares, even of the largest firms, eventually came very close to zero.
Rallies in bear markets are typically the periods in which Wall Street insiders unload their stocks on an unsuspecting public, (if you were paying attention you would notice that insiders have been furiously SELLING their companies storks!) lured into the market by a barrage of cheerleading from the financial industry. I hope you have the sense to get out.
There is no recovery. All indicators say so. New unemployment claims continue at record levels. A new wave of foreclosures is coming, and the word is that most of the banks that are still standing are actually COLD-STONE-BROKE! Last year I ran across some outside-the-box advice for home owners suddenly facing new higher mortgage payments. The advice was to stop making payments immediately. Put the money in the bank until the Sheriff evicts you, then use it to lease a nice apartment. Take the bankruptcy if you have to. Come out at the other end in much better shape than those who fought to stay on board the Titanic.
I thought it was good advice worth putting in a newsletter, but I knew most people would say, “What about my credit rating?”
Well, times are different already. Have you gotten any letters lately offering new credit cards? Or have you watched your available credit line begin to shrink? I don’t think there’s going to be any new credit for years, and the cost of credit is headed upward. If credit card debt is a problem, it’s time to make a decision now.There aren’t going to be any more balance transfers, raised limits, or other last minute aid to help you pay off your plastic. If you are in an uncomfortable situation with payments, it’s simply not going to get any better.
I believe your best bet right now, even if you don’t see yourself as being in trouble quite yet, is to immediately contact one of the credit “counseling” services, have them negotiate your balances and payments downward, and commit to a single monthly payment that may be considerably less than what you are paying now.
If you are preparing for tough times ahead, you need that extra money now, in your own hands. Everything I see suggests grinding depression ahead. Consumer prices continue to decline. If a year from now we start into massive inflation you may find yourself in a good position. The card companies remain bound by the agreements you made, and the opportunity could arise to pay off the rest of what you owe with cheap money.
I don’t suggest going to any credit outfit you see on TV. TV is expensive and you don’t want to be the one paying for it. There are non-profits, but I hear they are overloaded and slow. Asking around, I could only find one person who has used one of these outfits recently, but they gave high marks to a company called Debt and Credit Advisors, ask for Jim Wortman he will direct you in the right direction his number is 888 940-3222.
Before you can accumulate wealth you must get yourself out of debt. You cannot effectively work on wealth creation if you are wasting dollars paying high interest on your credit cards, car loans, student loans or your mortgage. You must attack the debts aggressively before you can expect to invest effectively.
There are a number of ways to attack your debt. You can go to debt counseling, debt consolidation, debt settlement, mortgage modification, mortgage acceleration & debt elimination or even in extreme situations bankruptcy. There are two options for consumers seeking bankruptcy protection from the courts, either Charter 7 or Chapter 13. You should seek the advise of a lawyer who specializes in this for a free consultation. Each of these choices has its pros and cons, you must fully understand each one so you can make the appropriate decision for your situation. The key to success with any system or program is that you must be totally committed to resolving your debt situation. Too many people enter into these solutions with a complacent attitude and drop out before their program is completed.
You can utilize a combination of the services listed above in order to get out of debt in the quickest time possible. Lets elaborate by looking at the debt situation of our fictional subject Joe. Joe is a homeowner with a wife and two children, he worked for Corning Glass for the past 15 years and was earning $40,000 per year. He refinanced his home for the second time two years ago so he could “lower his payments” and get some cash out of the home to pay off some debt. Now his $200,000 home is mortgaged to the hilt, his home value is dropping, he still has a truck loan, he has been using his credit cards to pay bills, gas and food lately, OH! He was late with a credit card payment and the Bank raised his interest rate to 29%! AND He was just informed his hours are being cut by 5 hours per week-Thank God he still has his job. What is he gonna do?
The first thing he needs to do is to find out where he’s spending the money. This requires budgeting and eliminating ALL unnecessary spending. Then he should go to an honest Financial Services Company and figure out what course he needs to follow. Then he should go to a Mortgage Modification Company and try to get his existing Mortgage rate reduced. When he gets those programs in place he should talk to www.TeamPayitOff.com and have them run his financial analysis so he can see how much time and interest will be saved paying off the remaining debts and mortgage.
By this time Joe should have freed up some discretionary income from the budget and should seriously consider allocating some dollars into a Whole Life Insurance program, this savings vehicle accomplishes many things such as financial protection for his family in the event of his death, creates a forced savings plan with compound interest that can be used tax free in the event of an emergency and creates a tax free environment for retirement.
So there you have it, a brief synopsis of how to get out of debt quickly and start building your wealth. Future articles will go into detail on each of these programs. If you have any questions feel free to add a comment or e-mail me at wayne@teampayitoff.com I will be happy to answer any of you.
Wayne Isaksen
Below is a great statement from Abraham Lincoln, he was truly an intelligent man and a great statesman. His observations were right on the money back in the 1860’s and are ringing true today. It just proves dishonesty and greed was alive and well then as it is today.
“I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money-power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed.”
–Abraham Lincoln
A great plan is coming to fruition here in America. Every act, deed, plan is done for a reason. Events that seem unrelated are carefully orchestrated to increase the powers of the Elite and put vast numbers of surfs (the rest of us) under their control. You can be sure inflation is not too far behind. Inflation is coming – You can be sure of that.
a) lose the burden of external debt
b) by devaluation lose your internal debt
c) In a single stroke you make the nation competitive as a manufacturing power.
d) scare the people back into compliance, even exultation with their low wages.
e) with the renewal of manufacturing, re-cast the power that your military rests on
f) during a time of Peak Oil, radically reduce unnecessary consumption while insuring strategic (military) supply.
g) by doing that, suck in the oil powers of Russia, Iran, and Venezuela enough to knock them off-base, first with high prices, then low prices.
h) club China into submission to the G-8 money powers again
AND BEST OF ALL:
i) enrich insiders beyond their wildest dreams, insuring their dominance for a generation to come.
All the right people win, all the wrong people lose.
There is only one thing we can do to protect ourselves – BUY PHYSICAL GOLD. There Was an opportunity to Buy in September 09 at $950 per ounce, presently Gold is trading at $1,045.00 per ounce. Look for a pullback under $1,000 to make additional purchases. This may or may not happen at this point in time. In a little while Gold will look really cheap at $1,000 per ounce.
Seeing the parabolic rise of the money supply and having barely escaped the banking collapse and the near miss of the Tech collapse, what do you need to insure this happens on a very tight schedule?
First, knowing this will happen, you suck in your own people by demanding—straight from the top—that bankers loosen lending standards so low even the dumbest financier couldn’t believe it was prudent, then refuse to prosecute even the most blatant corruptions by mortgage originators, fraudulent borrowers, and other “outsiders”. Suspecting this will all blow up, pay yourself today in bonuses instead of later in investments.
Then, knowing you’ll never repay, you jack up National Spending like anybody’s ever seen and go do what you want all over the world, in any country you want, with impunity.
Then you have a scare that gives you cover to set up conduits that insure all the right people have lifeboats, even if it costs $23 to $30 trillion dollars and even if the Wealthy yell bloody murder. It’ll all be over soon anyway.
NEW YORK (MarketWatch) — Gold futures rose last Thursday to six-month highs, with the December contract approaching $1,000 an ounce as a weakening dollar and fund buying pushed up prices. Gold for delivery next year topped the key psychological level of $1,000.
Why Gold Now?
Gold has been the currency of choice for over 5,000 years. The amount of gold on the plant is finite, in fact it increases by only 2% per year.
Every Global economy that relies on a Fiat Currency (Paper currency backed by nothing) ends badly. Remember Weimar, Argentina, Zimbabwe? And that’s just in the past 90 years!! If America continues down this path with its policy of quantitative easing we will lose our status of having the worlds reserve currency and the benefits that go with it.
Gold most often moves in the opposite direction of the general markets and yet, while the markets have been rallying strongly over the last 6 months, Gold has held its value. It’s interesting that the timing and the magnitude of the explosion will come alongside the Biggest Bull Market Trap in history! This is very possible over the next couple of weeks.
Paper fiat money is a lousy store of value, The US Dollar has been losing value quickly ever since Nixon severed its ties with the Gold Standard in 1972. Check out this comparison of USDollars and Gold since 1930. A $100 Bill issued in 1930 is still a $100 and buys a whole lot less today than it did then. At that time Gold cost $20.67 an Ounce, Today $100 worth of Gold in 1930 Dollars would be worth a whopping $4,800.
Today Gold has the fundamentals to explode to the upside. The Federal Government is printing money like there’s no tomorrow, trying to spend its way out of this mess. The Bail Outs, Wars, Housing Market Bubble Bursting, Unemployment skyrocketing, Insolvent Banks have caused the Fed to go to the printing press. The Government has quickly spent $12 Trillion (that’s Trillion). If that’s not inflationary I don’t know what is! In the long term I believe Gold will go to $6,000 +, but that’s just my opinion. Do your homework, get educated with the Gold Market, the time is now.
Wayne Isaksen - www.teampayitoff.com
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