| MARKET ROUNDUP | |
| Dow | -42.44 to 17,079.57 |
| S&P 500 | -3.38 to 1,996.74 |
| Nasdaq | -11.93 to 4,557.69 |
| 10-YR Yield | -0.03 to 2.33% |
| Gold | +$6.90 to $1,290.30 |
| Crude Oil | +$0.70 to $94.58 |
Amid all the handwringing over the U.S. economy, a funny thing happened. It actually BOOMED in the second quarter!
Revised figures show that Gross Domestic Product expanded at a 4.2 percent rate in the most recent three-month period. That was up from an initial estimate of 4 percent … better than forecasts of 3.8 percent … a huge rebound from the 2.1 percent contraction in the first quarter … and the third-strongest reading since the Great Recession ended five years ago.
Business investment rose at the fastest rate in more than two years, while pre-tax corporate profits jumped 8 percent. That was the biggest rise since late-2010. A measure of money earned by consumers, businesses, and the government – called gross domestic income – rose at a 4.7 percent rate. That was the biggest gain since 2012.
So the markets rejoiced in response, right? Not at all! That’s because Ukraine and Russia are rapidly heading toward all-out war!
In just the past 48 hours …
* A summit in Belarus on Tuesday between Russian President Vladimir Putin and Ukrainian President Petro Poroshenko was an utter failure. We heard a few brief comments about seeking peace, but absolutely no action. Then soon thereafter …
* Ukraine said it’s now fully engaged in battle against both separatists and regular Russian soldiers – calling the action a “full-scale invasion.”
* NATO officials accused Russia of sending “well over a thousand” troops into Ukraine, and warned that a “very aggressive Russia” was providing everything from weapons and ammunition to special forces training and intelligence to the rebels. That reportedly includes advanced Grad rockets, SA-22 surface-to-air missile and gun systems, tanks, and armored personnel carriers.
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| The U.S. GDP grew at a rate of 4.2 percent in the recent quarter, but worries about Russia and Ukraine stymied any big gains in the market. |
* Not only is fighting continuing in Donetsk and Luhansk, but now it’s breaking out in southern Ukraine around the border town of Novoazovsk. That could lead to Russia overrunning the territory separating it from Crimea, essentially linking up with its forces there.
* Ukraine asked for “large scale” military help or intervention from the U.S. and Europe. It also demanded the U.N. Security Council convene to discuss the crisis.
Russian officials denied in multiple venues that its forces were operating over the border, adding that “Russia is not taking part in this armed conflict.” But reporters on the ground continue to see Russian military hardware, helicopters, and troops pushing deeper into Ukrainian territory.
This is deadly serious. While the West only bloviated and shuffled its collective feet when Putin annexed Crimea, the invasion of Ukraine proper is a much bigger gambit. The sanctions we’ve seen to date clearly haven’t deterred Putin, so it stands to reason they’ll be ramped up substantially if southern Ukraine is overrun.
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“The sanctions we’ve seen to date clearly haven’t deterred Putin.” |
NATO is also talking about re-positioning more military hardware in Eastern Europe as a deterrent, with new bases potentially opening up in Poland and the Baltic states. And Russia has responded that such a move would naturally result in IT taking more aggressive steps, too.
As an investor, these developments have several implications …
First, they show why you absolutely need some exposure to gold and gold miners in today’s uncertain world. They are great “insurance” plays for a world gone mad.
Second, they underscore the very real global threat to the world’s energy supply chain. Putin wields a huge cudgel in the form of oil and gas supplies! If he chooses to cut Europe off in retaliation for sanctions, there’s no telling how much energy prices could jump.
Throw in the loss of production in Libya, and the burgeoning ISIS threat to major oil producer Iraq, and you can see why I’m expecting energy prices to rise over time. And now more than ever, it’s abundantly clear that the U.S. needs to step into the breach and build up its own domestic energy industry.
Third, sanctions will hit Europe much harder than the U.S. given Europe’s greater geographic and economic ties. So European stocks and the euro will likely come under even more pressure if things go pear-shaped in Ukraine. So my simple rule remains: “Invest here, not there!”
So what are your thoughts about the latest developments in Europe? Is Putin turning up the heat? Or is Ukraine just making things up to try to draw the global community in on its side? What is the chaos in Europe … and the ongoing turmoil in the Middle East … doing to your investment strategy? Are you factoring it in, and if so, how? Let me know at the Money and Markets website here.
| OUR READERS SPEAK |
As you might expect, the discussion over the Ukraine-Russia conflict is heating up right along with the crisis.
Reader Steve C. said that Ukraine should get “fast-tracked” for NATO membership “so the western world would be fully ready and justified to blow Russia’s butt out of Ukraine.”
But Reader Richard K. countered with the following: “Fast tracking Ukraine into NATO would be akin to reigniting the Cuban Missile crisis in the eyes of Moscow. From Ukraine’s northern border it’s only a 350 mile drive to the outskirts of Moscow or roughly the same driving distance from Cleveland OH to Washington DC . At low attitude, an F15 can travel 900mph or 15 miles in a minute or approx. 23 minutes for 350 miles.
“In the span of 150 years, Russian armies fought to the death against invading armies from Western Europe, 1812 against France, 1914 against the German & Austro-Hungarian Empires and 1941 against Nazi Germany. History is not lost on the Russian hardliners and nationalists. The thought of having NATO forces so close to Moscow would force Russia to react rashly and possibly invade Ukraine before the treaty takes effect. And if Russia does invade, does NATO get into a shooting war with a country with 8,000 nuclear warheads or are we naive enough to think that we can go to war with a nuclear power using conventional weapons only?”
Reader Al H. added: “Ukraine should NOT be brought into NATO. This would only result in another country which we (the US) would be committed to defend if Russia continued to pressure. And of course, we foot the vast majority of the cost of NATO operations with money we DON”T HAVE. It’s time we stop trying to rule the planet, take care of our country and mind our own business. “
But Reader Mark S. took the other side, saying: “A very simple response must be made; bring back ‘MAD.’ The Russians are barbarians and have breached the gates, they have broken agreements and we must do whatever we deem necessary to neutralize, or terminate the problem.
“Boots on the ground should be European and all the former Soviet satellites should be anxious to put enough forces on the ground to stop the aggression. Weapons and military intelligence should be provided in force to destroy all the military forces acting against the Ukraine inclusive of Russia itself. Make them pay the price in blood for their acts. Putin is nothing but a KGB bully and if he personally must be dealt with then let’s just get it over with. Let us act as he has and the Russians have.”
Needless to say, events are moving fast and there are strong arguments to be made both for and against military or economic action to offset Putin’s moves. So keep the comments coming at the website and I’ll do my dead level best to keep you updated on all the new developments, as well as what they mean for your wealth and security.
| OTHER DEVELOPMENTS OF THE DAY |
 Housewares and kitchen vendor Williams-Sonoma (WSM, Weiss Ratings: A-) was one of the biggest losers on the day, after the company forecast disappointing results for 2014 as a whole. Teen and young adult clothing retailer Abercrombie & Fitch (ANF, Weiss Ratings: C) also slipped after reporting a quarterly sales decline of almost 6 percent.
Reminder: You can let me know what you think by putting your comments here.
Until next time,
Mike Larson
Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money Report. He is often quoted by the Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.
{ 41 comments }
Ukraine comments: The Ukraine crisis started due to an illegal overthrow of the legally elected government by elements supported by and encouraged by US intelligence agencies for economic benefits. Regardless of the fact that the elected President was bad, the method properly to remove him is via another election. It appears that the USA uses coups to remove leaders we don’t like (Ukraine & Egypt) while we speak of democracy. This is Europe’s problem, not ours. Just because they are too weak and disunited to respond properly does not mean we have to involve ourselves in an issue not essential to US national interests.
I am so tired of the propaganda about how Russian is the enemy in Ukraine. The USA funded neo nazi groups in Ukraine to destabilize and overthrow the government. The USA has a long history of doing this on behalf of its corporate owners. I am so sick and tired of hearing how Russian is going to invade Ukaraine when the USA and its enablers are forcing Russia to defend itself and then say they are the aggressors. By the way, whatever happened to all the “evidence” the USA had on proving Russian shot down MA17? I bet the real evidence would prove that the USA backed Ukraine “government” were the real perpetrators in that horrible incident. Please don’t parrot the official USA propaganda.
Holygeezer, At last I have found someone who realises what is going on in the Ukraine. The problem is that the USA and it propaganda machine will say what ever it has to, to try and convince the world what the USA says is true. One only has to listen to the epistles issued by the USA State Department and having knowledge of what is actually happening in Ukraine to realise that there is a wide difference between the statements and reality. I see today in the news that Yatsenyuk was asking for more sanctions to be placed on Russia because the current sanctions are not having the desired effect. Case of if we are not able to win alone then we get someone else to do our dirty work.
I am a veteran of Vietnam and believe that the end result of having the country taken over by the communists was good. Vietnam was never a candidate for a democratic government. From what I have read of Ukraine, let the Russians have it. The trick is to keep Russian expansion from going further.
Totally agree with Hollygeezer!. It’s time we stopped meddling with other Countries and causing problems and chaos around the world. I too am SICK of the propanganda by the media causing the Sheeple to get brainwashed with ALL their lies about Russia.
We go in and destablize Ukraine and put in a PUPPET there, then sanctions against Russia !!
STOP all wars on the behest of the Shadow Govt here, And let everyone live in peace!!
Are you serious? The economy boomed? So you are a cheerleader for the lying govt AND their phony numbers and you also are unaware of the construct of the 4.2%? You have zero credibility
Mike,
I am a small US manufacturer. The last 6 weeks my new orders have been less than they have ever been during the 19 years I have been in business. I do not believe the economy grew over 4 % last quarter. Things are slower than in 2007 – 2008.
Have you heard of John Williams and Shadow Stats? Take a look at what the real numbers are
All this time, Putin has been playing a cat and mouse game with the U.S. and Europe, while lying through his teeth all along. Anyone who thinks they can deal with this lying dictator is either stupid or crazy.
We cannot undo the past but we can learn from it. The future of the world requires cooperation not weapons. This whole world is becoming bogged down in old world thinking. Remember WWII – We lost 50 million people, 25 million Russian. If their is going to be a 3rd world war, let it be said that we did everything we could to avoid it and not be responsible for causing it. A war with Russia has no positive outcome only negative consequences for all at a time when the world is fragile in every sense. We need Russia as an ally and not an enemy. Let those who wish to rattle there sword be willing to give all of their net worth to the cause and send their children to fight because this country is dead broke and you should not expect others to perish to satisfy a lust for action.
It is about time Putin took some gave the fascist killers in Ukraine some of their own medicine. The Ukrainian government has been dropping phosporous bombs on innocent civilians. Putin should aim between the eyes of the people who have been destroying the lives of the innocent. Russia has about a million Ukrainian refugees. NATO is responsible for destroying Libya, Iraq and Afghanistan. It is trying to do it again in Ukraine and Syria.
In the end no-one wins. Russia wins the military victory but the decades of building alliances and partnerships with the western Europe and the former Warsaw Pact countries now lie in ruin. Putin’s biggest trump card, oil and gas exports to Europe are safe for now but most European countries will be fast tracking any plan that will reduce or eliminate Russian energy as soon as possible.
Ukraine will have to come to terms to losing the lands east of the Dnieper River and with it a significant part of their industrial base. A poor country will get even poorer as Ukraine pours what little money it has into its military. Ukraine anger at Moscow will be costly and lasting long after Putin rides off into the sun set..
The question now is whether eastern Europe will be engaging in some form of ethnic cleansing. Putin publicly stated it is Russia’s rights to come to the aid of any Russians regardless of where they live. In the eyes of the hardliners, if they expel the Russian people from their lands, Russia has no reason to invade their country. For ethnic Russians living in Ukraine, Hungary, the Baltic States, etc things may get very ugly for them very quickly. And with hard line nationalism and ethnic hatred comes the very real dangers of events spiraling out of control throughout the region.
Well said Richard…. It is more than a little disappointing to read some of these entries that border on a real lack of historical understanding and those voicing the Russian doublespeak….. :(
wow where does one begin? with the break up of ussr years ago, it seems that a whole lot of Russian people got caught behind the wrong border. So to fix that,t he trapped Russians are trying to break free. As far as Putin helping the rebels, its no worse than all the help we did in central America and around the world for one reason or another. Now
one to the unrest in Gaza. Well from my point of view it reminds me a lot of the American Indians. All the Palestinian are basically of a reservation controlled by Isreal. They have no air space, no port, and are not able to leave. kind of like the old reservation of the u.s.
So to feed their families they raid the settlers next door.
Please read some Ukrainian History. Russians did not get stuck behind the wrong lines. They ethnically cleansed areas and moved in. Now they are using their existence in those areas to further ethically cleanse them. This has been an invasion from the start, not a rebellion. Most of the supposed rebels have been Russian. For example, early on when the Ukrainian army attacked the airport and killed 36 rebels 30 where repatriated to Russia. This is a very complex situation for sure. But Putin will only be stopped if the Russian people rise up or the entire area. Left alone I believe he will not leave this at the Ukraine. I agree with others that war is terrible, but we may not be able to avoid a third world war. Hopefully Russians remember how easy it was for them to take Afghanistan { something like for days with no casualties.} Then they lost over 10000 men and about the same in disabilities holding it for the next ten years.
Yes, you said it, a world gone mad! But how do we really make solid calls here? Lets not forget ISIS, the army invading Iraq and causing so much concern around the world, was actually trained and armed by Americans in Jordan with the purpose of attacking Syria. How ironic is it that Obama is now considering helping Syria fight against those very warriors? No doubt why the founding fathers cautioned getting involved in other countries affairs. I’m investing in war and stocks that align with it. War seems to be the one sure thing we can always count on.
The conflict in the Ukraine in its entirely was caused by the USA.
Who pumped in the money to cause the overthrow of the democratically elected Ukrainian Government?
Good old USA.
Who backed the Neonazis that are now in power?
The good old USA.
If Ukraine was already around $18billion in debt(not quite as insolvent as the good old USA, but it is all relative), how can they afford to fight a civil war?
Well, somebody must be financing them! The good old USA!
What would be the quickest way to stop the war?
Threaten to stop the funds from the good old USA!
Why won’t that happen?
Well, just look at the depth of dwang the USA is in.
They need an “enemy”, to distract the population from the dire straits the country is in.
Usa, can I let you into a secret.
Russia is a lot bigger and more powerful than Granada.
Also Korea.
Also Vietnam.
Also Sudan.
Also Iraq.
Also Afghanistan.
And if you got a hiding in all of those nothing countries, aren’t you biting off a bit more than you can chew, this time?
Oh, Europe is going to fight this war.
You are just going to watch.
Sell arms to both sides.
Make money.
Come into the war at the last moment to be the conquering hero.
Come out the strongest world power again, even though you are currently insolvent.
Good plan.
But do you have to wipe out most of the world carrying out your plan.
Oh, the sacrifice of the many to save the few.
Well, the disinformation campaign that is being waged against Putin specifically and Russia .in general has so far been remarkably effective. Look how all the western press is not only spewing out absolute rubbish about what is going on in Ukraine, but a lot of the population of the western nations actually believe it all.
And one final thing, congratulations to the CIA for all their efforts in bringing down the Malaysian passenger aircraft. You can’t say that wasn’t a successful operation.
The sacrifice of the few etc.
Time for a change of regime in the good old USA?
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It appears the seeds of WWIII are beginning to sprout; hope i’m wrong about that.
right on,except your timing is off a couple of hundred years!!
When Assad started shelling residential areas, we said “Assad must go.” So, when Poroshenko, who was installed by rioters and anarchists supported by the West, does the same, why do we support him? The Russians are the only ones that have provided humanitarian aid to the civilians under siege.
We bombed Belgrade to force the disintegration of Yugoslavia, why is it now so necessary to keep Ukraine together when there is so much ethnic diversity. Evidently self-determination is good only for some, and not for others. The inconsistencies in our foreign policy is disgustingly schizophrenic. And our lack if leadership is worse. Only politics rule.
What business does the U S have in the Ukraine? They create wars all over the world but Russia is not without its own retaliation. Russia with China will take down the petro dollar and hopefully cut off fuel to stupid Europe. Serves them right for the puppet status they have with the U S. Europe is nothing but a tool to the U S and when their status is reduced from devaluation of their worthless dollar they will finally look like the fools that they are.
Send Mr. Putin one of those 99-packs. Maybe he’ll drink himself to death.
By the way, wasn’t it just a couple of months ago, the U.S. took steps to improve the readiness of our ICBMs? Don’t think Mr. Putin et/al didn’t notice that – and probably do the same. This time next year, a whole lot of us (and Russians, Chinese, etc.) may not be here. And Mr. Obama says he has given up planning anything.
Maria Korkatsch-Groszko, Ph.D.
_______________________________________________________________________________________
Please call yourself and distribute widely.
Please phone and encourage your parents, your children, friends and relatives to also call.
Ukraine – Action Item – Presidential Phone Storm
Please call the Presidential Comment Line (202) 456-1111 Mon-Fri 9AM-5PM.
Please distribute widely via Facebook and email to all your contacts.
.Please leave the following message:
I am asking President Obama to work with Congress to grant Major Non-Nato Ally Status to Ukraine.
This status will facilitate the delivery of military supplies to Ukraine.
The United States, the world’s beacon of democracy, must help Ukraine against Russian aggression.
Thank you.
————- Here are some notes about Major Non-Nato Ally (MNNA) Status ————————
Thousands of people will be calling the President of the United States all week long
to request Major Non-Nato Ally (MNNA) Status for Ukraine.
President #Poroshenko requested #MNNA Status for #Ukraine live on #CNN.
Major non-NATO ally (MNNA) status is a designation by the United States given to countries that have a strategic working relationship with the U.S. Armed Forces but are not members of NATO. A critical distinction from NATO membership is that the absolute guarantee of mutual defense that NATO members have is not given and it does not require the United States military to engage in direct military action immediately in the event a country with this designation is attacked. It is not a mutual defense pact. Instead, it confers a variety of military and financial advantages and privileges that are otherwise not available to non-NATO countries. It does not require approval from NATO members and is unilaterally proclaimed by the United States.
Benefits and privileges of MNNA include:
Participation in certain counter-terrorism initiatives
Permission to use American financing for the purchase or lease of certain defense equipment
Exemptions from the U.S. Arms Export Control Act that are the same as enjoyed by NATO members
Permission to purchase depleted uranium anti-tank munitions
Priority delivery of excess military equipment and supplies
Basing and possession of DOD War Reserve Stockpiles for Allies
Cooperative research and development projects with the Dept. of Defense
Bidding for certain DOD contracts
Reciprocal training
This is another case of an ethnically and religiously divided country. The United States has no business involving itself in such foreign entanglements.
With all due respect, investors do NOT seem to be “scared stiff,” unless you call the DJIA (which is still over 17,000) being down 42 WHOPPING points “scared stiff”….!!??
Likewise, gold (in which I am heavily invested) was up today, but has STILL NOT been able to crawl back above the $1,300 an oz. mark yet….!!!
I guess all these “geopolitical tensions” will have to hit alot closer to home before Investors can get off of their FOMC induced high and take the market back down closer to where Main Street, USA really lives these days….
To your statement “…But reporters on the ground continue to see Russian military hardware, helicopters, and troops pushing deeper into Ukrainian territory.” :
“The US as always sided with Poroshenko’s statements and NATO-offered evidence, with US Department of State spokesperson Jen Psaki saying that Washington has “no reason to doubt their [NATO’s] assessment.†Meanwhile both the head of OSCE’s Ukrainian monitoring team and Russia’s representative said there was no Russian presence spotted across the Ukraine border, refuting claims that a full-scale invasion was underway.” http://www.RT.com
I grew up in an ethnic Hungarian home where the Soviet Union was the equal of the worst “four letter word,” so Russia was not among my favorites. But today the neocons in DC have become so obscene and immoral that they have replaced the Soviet Union in my lexicon! I have a hard time aditing that Russia is right and the neocons are wrong.
Putin in my opinion is one of the few statesmen in the Western world and the neocons in DC make up any lies about him. Take Crimea; this was ceded to the Ukraine in 1954 with the proviso that any time the Crimeans held a vote requesting a return to Russia, the Ukraine would have to grant it, and Russia would have to accept it. The vote was held and Crimea re-joined Russia … yet the DC neocons lie that Putin invaded it! And worse, our press plays this up without checking the facts.
The invasion by Russian troops is nonsense also, per the OECD inspectors on the ground. However after the neocon inspired invasion of Afghanistan and Iraq, as well as the recently announced bombing of ISIL in Syria without coordination with the Syrian govt. leaves one surely with the opinion that Russia can do likewise in the Ukraine to protect its far more immediate interests therein.
Right or wrong, that’s me opinion.
In my note above, I mistakenly wrote OECD when I meant OSCE. Darn acronyms get me every time! And ignore the spelling errors … it’s late at night.
Yesterday the European news agencies reported that the Russian supported separatists made fun of the Western claims saying that the Russian Troops were just vacationing there instead of going to Spain. Putin says the Association Agreement with the European Union is what bothers him most. While he cannot change this he holds all of the remaining cards in his hands. He has shown that the imposed (and additional threatened) sanctions are as not as important to him as the physical territory. Now with his troops in the Ukarine he will insist on a safe corridor from Russia to the Krimea and probably autonomy for the Western States of Lugansk and Donezk. Unfortunately there is little that we can do to prevent this short of all out war that no one wants.
I cant believe Americans are so ignorant! The nearest Russian troops to the Ukrainian border are 1100 Km away. The stupid US public believe the US mainstream media who always lie by omission. Palestine has never existed because they refused a country adjoining Israel in 1948. They have been wrecking every country who helped the ever since. A Ukrainian Air force MIG 25 on a raid over Donesk, broke away from it’s raid climbing straight up to intercept a high flying drone, it fired it’s missiles at the drone above it & a huge explosion followed by debris falling over a wide area of farmland a local woman and 4 more witneses reported this, If Russia invaded Ukraine you can rest assured it would have been in Russian hands in 24 hours. What we see is a government shelling and bombing it’s own citizens to draw attention away from the fact that their thieving government fatcats have failed to pay their gas bill so they con the dumb US into doing it for them
i repeat”TOO SOON OLD,TOO LATE SMART”..
this applies to countries as well as individuals.
Before you consent to kill more citizen soldiers
and get us into the big war with the big bombs
reserve judgment and widen your information[bag]
try other news outlets,RT is a good place to start..
Peter Lavelle on crosstalk in particular..
With all the terminal events facing the world perhaps
a few minutes in the spotlight of empires just fades away..
If we send troops may I suggest sending bleeding heart enviromentatlists from the usa who have stopped the developement of gas&oil in colorado that pres bush ordered be developed-these false religious types worshipers of the creation instead of the creator have effectively stymied the usa capability of total oil&gas indepedence from all other areas of the world & the wobbly kneeed oldfarts in DC refuse to stand up to them. Putin knows this is playing the card game with all the cards in his favor as far as he is concerned ! A few comments from others shows a political bent from the DC wimps. The Russian Bear with Putin as the present head is it possible he is or part of the prophetsied King of the North mentioned in various books of the bible. I look at events from that perspective-the USA in WWII was the mondern day counterpart of the ancient Israelites marching around the city of Jericho after 3 days it fell. Today we shake our fist at God throw his commandments off the public square endorse queers allow hollywood to glamorize lifesyles
Invest in gold, defense, energy and health. Keep a large portion of your investment dollar in cash to take advantage of these investments whwen the market dips 15 to 20 percent. Buy low and sell high is still the governing rule to make money in the stock market.
We’ve been here before. It was the late 1930’s and Prescott Bush’s Bank was doing business with the Nazis…… More recently Cheney/bush allowed our oil companies to rebuild the outdated Russian oil and gas production facilities and boom with the new profits, the Russian military gets rebuilt and all the work of Star Wars (which bankrupted the Russians and stopped the march to WW-lll) is gone… Sadly, once again it appears that the overwhelming greet of the wealthy and powerful fogged the likely probability of Russian ambitions now just as was the case with the Nazis in in the late 1930s… :(
A large problem is that Putin is a lot smarter than you-know-who.
You must mean Cheney/bush who started this whole mess my invading Iraq on falsified Intelligence, costing over 5,000 soldiers lives, over a 100,000 wounded and 4 Trillion that we did not have to spend when we had a “freebie” before with an equal standoff between Iran and Iraq!…. :(
I believe your comment about Gold and Silver being a stabilizer in one’s portfolio is correct. Particularly silver. Why silver? Well, I read somewhere that in this electronic age of computers, ipad’s, ipod’s, laptops, and what else, silver is the key coponent, something that is often overlooked by investors who see silver as jewelery or quasi industrial usuage. It is far more prominent that that. I thank you for the comments about silver especially because believe it is not regarded in its proper perspective.
Peter
Amagedden at the forefront and all of us are denying it….The “Preppers are looking smarter each day”….
Gold % silver was the effective ” line in the sand” until nixon took the dollar off the gold standard completely-until another govt simultaneously places its currency (existing or new one) & takes over replacing petro dollars I think silver to be a more viable investment for commercial use-if (a big word) the DC crowd would get its act together as to domestic on shore oil production & not sell oil in the world market we could accomplish so much two of which #1 stop the flow of us oil dollars of which some IMO most of reach terrorists #2 rebuild our creditworthiness. Im a firm believer in no indebtedness or foriegn entanglements with any other nation. The USA used to be the lender to other nations now we seem to owe everybody ! Keynes vs. Austrian economics is at a crossroads & the turn at this junction by DC will be one for history books!