Richard Russell - Hang on to Gold, Massive Collapse Coming

here on 02-04-2012 there were two noted personalities that are saying the same thing...

Dr. 'Doom', Marc Faber was speaking on the Squawk Box TV show before the market opened..
he said in essence a massive destruction of wealth is on the horizon... just how far off was not stated...
he just said that the wealthy will loose 50% of their wealth


then there was this link:

By: James_Quinn The Great Depression II, You Ain’t Seen Nothing Yet
Politics / Great Depression II Apr 02, 2012 - 03:53 AM...

www.marketoracle.co.uk...

an article which pretty well explains the why & how of this coming destruction of wealth


i had not yet gone to the Dr Doom web site & read his explainations,,,, yet
new.gloomboomdoom.com...


in his audio interview marc faber said that normal equities won't retain value so shop around, farm land & acreage will fair better

reply to post by DaTroof


However, you cannot print gold.

There is a limited supply of it, which is the way it should be.

Although one could increase wealth by obtaining more gold, either by stealing it from other countries, or digging it out of the ground. But, you can never print it on demand, and therein lays the problem we have now.

Originally posted by wingsfan
the gold market is getting played harder then the housing market. just wait till tptb pull out on gold (while hedging that bet). gold will be worth around $30 an ounce very soon.

Gold will never be $30.00 per ounce. That's a ridiculous statement. The largest correction I could see would be $300-$500 per ounce drop.

Originally posted by samkent
reply to post by NuclearPaul

 

We need this collapse for the chance to be free.

All these people rooting for a collapse don't realize they are rooting for the return of the 14th century.

I would rather live free in the 14th century than a slave today.
It is time to separate the men from the boys, so to speak.
Those that are willing to adapt will make it, those that sit around waiting for someone to do something for them will not make it.

Originally posted by Skewed

However, you cannot print gold.

There is a limited supply of it, which is the way it should be.

Although one could increase wealth by obtaining more gold, either by stealing it from other countries, or digging it out of the ground. But, you can never print it on demand, and therein lays the problem we have now.

Bingo!

I always rather liked the 10 marble analogy by Mike Rivero over at whatreallyhappened.com

In essence, what his analogy pointed out, was that if you have 10 marbles in a jar, you can only ever tangibly have 10 marbles. What the banking and financial systems would have us believe is that they can go on selling marbles, to multiple buyers, even though there are only ever 10 marbles in existence.
As with gold, if you don't physically have your hands on the actual material, you have nothing. A piece of paper issued by a bank or other financial institution means nothing and can be struck off or devalued at the stroke of a pen.

The whole banking and finacial system allows them to create value and goods out of thin air, on paper only, that does not exist in reality... therein lies the whole reason things will eventually crumble. As they create ever more exotic and complicated systems for profit creation, based on something they dreamed up that doesn't actually exist, the more the numbers groanthe more debt is racked up that, at some point, has to be paid.
In reality, these goons produce nothing of any tangible use to humanity, but expect us to bail them out and help to maintain their excessive lifestyles when it all goes belly up!

reply to post by Britguy


It's very likely you do the very same things at your own house that the banks do.

Loans between family members?
If your mower is down for repairs you borrow your neighbors. But when you return it you also return a six pack of beer.

People are confusing the banks with federal policy.
It was government agencies that approved those stupid loans. Not the banks.
Yes they took those loans and resold them as investments but that's what they had to do or they would run out of money to loan. I think that's where the most controversy comes in.

Loans and banks are a permanent part of the system. YOU need them too. Without loaning money that doesn't exist the economy would have flat lined in 1900. You would only have the exact number of physical paper dollars as the government has in physical gold. Which is about 10 trillion for the entire planet.
What would you do if your employer told you he could only pay you half your normal pay because he can't get access to the dollars?
What about new car purchases? You would need to pay cash or gold. How many would be sold?

Don't confuse the banks with federal policy.
As we have seen the past couple of years the only way the feds have had to stimulate the economy is housing.
Lower the requirements and more houses are sold.
More are built.
More washers and dryers are sold.
More TVs are sold.
More carpet, surtains, clothes.
More autos are sold since suburbia has no bus lines.
More of everything.
Housing is the cocain of the economy. Take it away and everything flat lines.

For years they tickeled housing for every election year.

Blame the feds not the banks.

reply to post by surrealist


Though many of us Truth seekers know that there is great change coming none of us know when that day will come. I realized 10 years ago there was an economic collapse in que but always thought it would happen sooner then now, as a matter of fact i thought that the 2007 derivitive collapse would be that catalyst. Still we are here waiting for an imminent collapse to happen which may never actually perpetuate itself as we expect it too! So we wait in our mundane lives expecting destruction when in reality we could be out changing our world for the better!
We could be exposing the truths, possibly making our lives our own instead of some other person leading us around by our wallets! We are capable of so much and need so little to be happy and yet we strive for materialism
wealth and individuality when we could be so much more happier having far less then we realize! It is in each of us to rise up against unjust treatment, manipulation, fear mongering and live on our own terms and not those that are best suited for the most wealthy of us! If we don't do this then we will never be free, we will never atain success as seen through the eyes of our forefathers. They faught for all of our freedoms and even though it was an illusion perpetuated by the rich white aristocracy we can be sure that this is not the end but only the beginning of the end of our enslavers! We must wipe the sand from our eyes and see our leaders for whom they are!
We are our own masters and once we realize this we will be free from tyranny! If we continue to be afraid we shall never break the chains that bind our will! The truth can not be revealed to those without the courage to see the truth! for without courage we will forever be blinded into servatude! Free your mind and the rest will follow!