Sunday, March 30, 2008

So Anyway, the Western World Almost Collapsed Last Sunday

I guess most of you have heard of what happened to Bear Stearns. They were working on a merger with J. P. Morgan, and their stock collapsed. A bunch of people were pissed off that the government bailed them out, but not homeowners. If the government hadn't bailed out Bear Stearns, it wouldn't have mattered. What people don't realize is that if Bear Stearns had collapsed, J. P. Morgan would have collapsed, and in a huge domino effect, all investment banks, the U.S. stock market, and eventually the Asian and European markets would have collapsed. We don't realize how close we are to the tipping point. Politicians for some reason seem to not want to talk about it. Here's something else for you. By 2017, social security will be insolvent. By 2018, so will Medicaid. While at one time for every senior there was 48 workers, soon it will be less than three per senior. The system is collapsing. Also, our U.S. dollar isn't backed up by anything. Nixon got rid of the gold standard in 1971. The history of all currencies not redeemable in gold and silver isn't good. All have collapsed. Don't think just because we're America it won't happen to us. We're next. So, instead of just talking about the collapsing dollar, I'm planning on buying about a thousand dollars worth of American Silver Eagles. .999 ounces of silver a coin. Maybe you should consider doing the same.

No comments: