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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 08/16/2010 : 18:16:11
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THERE WILL BE NO DOUBLE DIP…..
August 16th, 2010 by Egon von Greyerz
THERE WILL BE NO DOUBLE DIP…..
by Egon von Greyerz – Matterhorn Asset Management
No, there will be no double dip. It will be a lot worse. The world economy will soon go into an accelerated and precipitous decline which will make the 2007 to early 2009 downturn seem like a walk in the park. The world financial system has temporarily been on life support by trillions of printed dollars that governments call money. But the effect of this massive money printing is ephemeral since it is not possible to save a world economy built on worthless paper by creating more of the same. Nevertheless, governments will continue to print since this is the only remedy they know. Therefore, we are soon likely to enter a phase of money printing of a magnitude that the world has never experienced. But this will not save the Western World which is likely to go in to a decline lasting at least 20 years but most probably a lot longer.
Continued: See link............
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Think positive. |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 08/16/2010 : 20:05:41
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| In order to have a double dip one has to assume there was a recovery from the first "dip". I'm not one who believes there was any recovery to speak of. FOMC, BO & cronies manipulating the markets and currencies has not created anything of a recovery on main street, which is the economy. It's still an L shaped depression. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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fb101
Administrator
USA
2856 Posts |
Posted - 08/16/2010 : 21:30:43
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| Not good for Manic depressives. |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 08/16/2010 : 21:52:49
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good read
its interesting he brings up this part...
---from the article---
"So after the tumultuous and very painful times that we are likely to experience in the next few years, the West will have a sustained period of decline. All the excesses in the economy and in society must be unwound. These abnormal and unreal excesses are not just corporate executives, bankers, hedge fund managers or sportsmen earning $10s to $100s of millions but also a total collapse of ethical and moral values as well as a breakdown of the family as the kernel of society."
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i truly believe that the decline of the traditional family is bringing this country down at the same rate, maybe faster, than the excessive debt we are accumulating...
any thoughts?
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My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Beau
Penny Pincher Member
216 Posts |
Posted - 08/17/2010 : 13:37:57
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do you realize this could happen today.
all that is left is to flush it really soon.
what is left?
TSHTF |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 08/17/2010 : 16:18:46
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Excellent article and I think it speaks directly to those of us whom have seen the writing on the wall for quite some time.
As a silver enthusiast it brings a question to my mind. As with most of my questions and theories it is in multiple parts and comes with a story of sorts.
If silver is as we feel "undervalued" with a ratio of aprox 66 to 1 to gold.
How will the market unfold?
How will the relationship be structured in the future?
Let me get to my real question.
Lets assume silver decides to make true on its current prospects and reaches out to say $60 an ounce. That then at current gold prices of $1200 bring the ratio to 20:1. If the equivalent ratio of 66:1 were to be held gold would reach $4,000 per ounce.
This takes no account for inflation simply the supply and demand of silver and the assumption of a ratio theory. It also pays no regard to current PM manipulation.
Who will drive the market Silver or Gold?
Gold is the traditional means of conserving wealth against fiat currency and has no true industrial application in which to be forced to move. Silver has need by industry and its supply is vital and its price will adjust accordingly.
So take these numbers a bit further to say $200 per ounce of silver with the coming "inflation" the manipulation bust and supply and demand issue. To maintain the current ratio of 66:1 gold would come in around $13,500 per ounce.
The increased value of PM's is a no brainer to me. My thoughts are in the ratio as I ponder Silver or Gold?
Will the market maintain this ratio?
Just some thoughts...
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"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
H.L. Mencken
http://silver-news-today.com/ |
Edited by - cptindy on 08/17/2010 16:20:46 |
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THERE WILL BE NO DOUBLE DIP…..
Forum Locked
Thanks for posting, Jamie. 
