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The Slippery Slope

Friday, November 5, 2010, 1:03 PM
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QE II is now out of the bag, ready to alter the course of history.

There are several assessments that I've held over the years that have never wavered:

  • Thin-air money printing. U.S. monetary and fiscal authorities (the Fed and Congress, respectively) will make every attempt to print and spend their way out of this financial predicament and will not take the path of austerity until forced to by external circumstances.
  • Gold and silver are an excellent way to protect your wealth from the form of confiscation that thin-air money printing represents.
  • Over the next 20 years, resource issues, especially in energy, specifically in petroleum, are going to fundamentally reshape the economic landscape. And maybe the political and social landscapes to boot.

More than two years ago now, reacting to an increase in the levels of government and Federal Reserve bailouts (The Day Everything Changed), I opined that a course had been set and that we were in all new territory that would lead to a dollar crisis someday.

This was my conclusion on September 19, 2008:

 

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