U.S. Financial Shipwreck Ahead
by Dr. James Bruggeman
Yesterday (November 3, 2010) the Fed announced that it was going ahead with Quantitative Easing, a euphemism meaning that they are monetizing the national debt. This is a watershed event in the financial history of the United States. They are/will be buying U.S. government bonds, but to do so, they will be cranking up the printing press to come up with the trillion-plus dollars needed. This is drastic! It points to the strong possibility of the U.S. following the German Weimar Republic model of hyperinflation in the early 1920s. It eviscerated the German economy and paved the way for the rise of Hitler and National Socialism.
Meanwhile, today we learn that a couple of major players in the high finance game are being sued for racketeering in connection with their long-time manipulation of the silver market. A law firm from Seattle is bringing a class-action suit against JP Morgan and HSBC. Here’s a link to the story.
These big banks have been practicing what is known as “naked short selling,” which essentially means they are selling what they do not own. It allows for all kinds of ways to unethically profit immensely in the silver market. Here is a key allegation in the lawsuit:
“In addition, the lawsuit states that both JP Morgan and HSBC still maintain highly concentrated holdings in short positions in silver futures and options, giving both banks the ability to continue manipulating the price of silver.”
Because these major firms have been artificially keeping the price of silver suppressed for many years, it means that silver is poised to skyrocket. That is one of the reasons we have made available to our readers the Preservation of Wealth company as a means of purchasing precious metals at the very lowest price available.
There is still time to obtain silver and profit handsomely from it in the short term, if you are so inclined. But more than that, it means that silver is still the best hedge against Weimar-style hyperinflation, should it come—God forbid. Click on the PoW logo at left to find out more or call me (828) 277-7733, and I will put you in touch with my sponsor, Jack, who can explain to how to best buy silver—or gold, if you wish—at the lowest possible prices.