The greatest depression that this country saw was a number of years ago. There seems to have been no lessons learned from the previous depression because our government still believes that larger government is what is going to get this country back on track. Today we saw unemployment creep back up to 9.2%, even with discouraged workers falling off of the statistics, this number is at a 6 month high. Forecasts are being slammed with numbers way under what was hoped for. June saw the slowest hiring period in 9 months already bringing about a grim outlook for another “v-shaped” year. Economists were expecting a gain of 90,000 in nonfarm payroll, of course the real number being reported is only a fraction of that at 18,000. The Dow opened up down for the day in the triple digits with precious metals positively responding.






The Swiss have their sights on gold and are contemplating on bringing it to the table in the form of their currency. The Swiss Parliament is actually going to be discussing the possibility of a gold franc towards the end of this year. It should be noted that Switzerland was one of the last countries to completely break away from gold in 2000. The purpose of this great idea is to safeguard holders of this currency in the event of a likely global disaster and inflationary race to the bottom. Hearing about the fear of inflation from Switzerland and other countries who have openly expressed their concerns, really clues us in that the further away from the source we look to obtain information, the more truth comes to the surface. Of course the source being the Federal Reserve that is directing the world’s global path. It would be financial suicide for Ben Bernanke to come on national TV and say, “to avoid losing your purchasing power, everyone should start buying gold.” As good as this announcement would be for all of us who already are holding the metal, any remaining confidence that is still in the dollar would be obliterated. The truth on the matters are found through alternative media and those who are not afraid of the real scenario. Notice the Fed Chairman is the dollar’s biggest cheerleader and knows that his words have the power to move markets. We still believe that gold and silver are both great investments and are going to keep accumulating it until there is something more attractive to store our wealth in.   



Although our opinion on these matters and outlook on the economy remains the same, truly believes more and more Americans are starting to grasp the bigger picture in what is happening. More are being educated about the money supply, Federal Reserve, the impact of large government, and the safe haven that is found in the metals as a result of the prior. With silver having many industrial purposes, logically it would make sense for the price of it to drop when the markets are hit on a day like today. However, people are waking up to the idea that we are coming to a point where the Federal Reserve, the dollar, and large government are not going to be trusted. Of course today, metals prices were up. Talking with other individuals who regularly save in gold and silver, many are saying that they don’t even like purchasing anything but physical bullion because of the uncertainty in the system that is binding everything together. A local coin dealer reluctantly sold silver coins to members at saying, “it’s amazing how I’m handing over real money for worthless pieces of paper.” If you are in an economic position to save in gold and silver, do so before it’s too late.    



QE3 Story



With the economy slowing, QE3 is right around the corner. What is it going to be? We’re still waiting to see what this administration is going to do. We would be pleasantly surprised if we saw them do nothing and allowed the economy to painfully correct, but we strongly doubt that anything remotely close to this will take place. Already there are talks about keeping interests rates bottomed out throughout 2012. As of August 1, 2011, the Federal Housing Administration will extend the period for unemployed homeowners to miss their mortgage payments. This period of missing payments will be increased to a full year from a 3 or 4 month period. This will only apply to FHA-backed loans which are middle income borrowers. This new action of forbearance will be enacted for the mortgage giants as well as of October 1st for their borrowers during unfortunate circumstances. Again, on the surface these seem great and generous for those who are suffering, but in reality it’s another example of government unloading personal responsibility from the individuals and imposing their methods on the free market.



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