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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

 

Condensed Articles

June 1, 2015

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PROTECTING WEALTH
By Fred Hickey

(condensed)

Historically, the best place to protect one’s wealth in a period of massive monetary debasement has been in precious metals, and once again, I’m perplexed that it’s taking so long for other (Western) investors to concur. After going gaga over precious metals into the top in 2011, the selloff has temporarily cooled their ardor, Eastern investors (Indians, Chinese, Russians, Middle-Easterners and Turks) continue to buy and hoard enormous amounts of metal. They’re no dopes. They remember history.

While it’s clear to them and to me what I need to do, the fact is that I’m back in a waiting mode, which seems to be more interminable with each passing day. The boo-birds are back. On Sunday someone left a phone message: “When are you going to admit that you’re wrong” and give up. I hear similar criticism on my Twitter feed. My answer is always the same: I’ll admit I’m wrong when the Fed is able to normalize interest rates and normalize (sharply reduce) their bloated balance sheet without blowing up the world. In other words, I’ll admit that I’m wrong when these central bankers prove, for the first time in history, that money printing works. After six and a half years of abject failure, where they’re afraid of raising interest rates even one quarter of one percent, never mind bringing them to a normal level, it’s the central bankers (and everyone else who still believes in them) who need to conclude that they’re on the wrong path. I’ve only been wrong in my estimation of how long the Fed could continue to fool so many investors for so long a time. I still believe that all this will lead to the resumption of the secular bull market for precious metals, and eventually the final blow-off top.

(The High-Tech Strategist – P.O. Box 3133, Nashua, N.H.  03061)