Countries the world over have seen their currencies crash faster than an Egyptian jetliner. Ask the poor souls in Venezuela how much their currency is worth. They remind us of the siege of Leningrad during WWII when the population hunkered down eating everything they could; not a rat, mouse or the “soles of their shoes” were spared. Venezuelans will tell you what the peso is worth “NADA”, nothing; you can’t even by toilet paper with it – so they use it for toilet paper.
The higher the price of gold goes the worse it will be for the status quo. Remember, the Central Banks were set up by politicians to print money ostensibly to feed their minions, this became the loop for reelection; it continues today. Once the printing stops, the true revolution begins, the free-loaders will no longer be in control, but the men/women of conscience and integrity will once again rule. Work will be rewarded not the other way around. Let us remind you how dangerous gold is to the parasite politician.
In 1933 Franklin Delano Roosevelt under Executive order 6102 our government confiscated the gold of all United States Citizens; gold was more dangerous than TNT. Gold was the equivalent to today’s suicide bomber.
The latest from JP Morgan, when he talks people listen. His not so Rosy forecast is a danger sign; the result of Obama’s spendthrift money printing eight years in office. The economy has been sold out to the devil. Printing ad infinitum has caught up with the Politically Correct Zealot Progressive Politician. Click here to read the Morgan warning.
This comes on the heels of Friday’s disappointing May jobs report. According to the Bureau of Labor Statistics, US companies added just 38,000 nonfarm payrolls during the month. Economists were expecting 160,000. Meanwhile, the unemployment rate fell to 4.7% in May from 5.0% in April, but this was largely a function of 458,000 workers dropping out of the labor force.