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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Richard Russell
August 20, 2012
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"The trend is your friend -- until it ends." Jim Dines
................................................................

On Wall Street nobody knows anything -- and nobody is doing anything -- because nobody knows what to do. Volume has sunk to ridiculously low levels. The hour glass for trouble is running out -- and what I mean is that debts are compounding, and the balance sheets are looking worse every day. And this is happening with the current low interest rates.

The US MUST do something about its deadly compounding debts.

I note that John Paulson and George Soros have increased their positions in gold. I have to believe that Soros receives the best information available. Both of these men like BIG plays. What could Soros be thinking? The forces of deflation are weighing heavily on the US, and Fed chief Bernanke will absolutely not tolerate deflation.

The US holds the world's biggest hoard of gold. The simple, obvious move would be to unilaterally raise the price of gold. This would devalue the dollar and all other currencies overnight.

In the meantime, the US has been encouraging its people to buy and hold gold. The US even came out with a beautiful new pure-gold buffalo coin. If the price of gold is raised, the fellow with three gold coins will feel good when the value of his three coins booms to ten thousand dollars. Ideally, before raising the price of gold, every US citizen should own a quantity of gold coins. In this way, everybody would be happy if the dollar value of their coins boomed.

I think this is the way matters are fated to go. The US dollar must be devalued in order to shrink the destructive power of debt. I think George Soros and John Paulson are well aware of this. Soros might even have received inside information on this subject. Steve Forbes in Forbes magazine writes editorials about gold in almost every issue -- we must go back to the gold standard and revise the current unworkable and unstable monetary system. America's debts are compounding even as you read this.

As I write, the price of gold is back over 1610. You can't keep a good currency down. All my subscribers should have some kind of a position in gold, preferably gold coins. There -- that's the way I see the world and the US today.

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