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Today was a landmark day in market history. Before late-session corrections …
Gold futures surged to the highest level in world history — $1,449 an ounce.
Silver hit $38.18, the most since the Hunt Brothers cornered the silver market in 1980.
Crude oil touched $106.69, a few nickels short of the highest level since September 2008 … corn jumped more than 3% a bushel … and cattle futures jumped to $1.16 a pound, just shy of the highest level on record.
Meanwhile the dollar continues to plunge, losing ground again against the euro … the Swiss franc … plus the Australian, New Zealand, and Canadian dollars. The broad Dollar Index is now within a whisker of a fresh 15-month low.
What’s going on?
Exactly what we’ve warned you would happen: The mad monetary scientists at the Federal Reserve are trashing the value of your dollars, driving up the price of commodities, and completely ignoring the rampant inflationary pressures each and every one of us can see in our daily lives!
I hope and pray …
That Washington will finally wake up to the urgency of our budgetary lunacy …
That Ben Bernanke will stop destroying the value of your hard-earned savings …
That America can somehow avoid a financial Armageddon.
But hopes and prayers alone are not enough. We also must heed the FACTS, and those facts point to a financial disaster of biblical proportions.
For precisely how to protect yourself — and profit — I urge you to see Martin Weiss’ amazing video, American Apocalypse.
The place is here and the time is now. That’s what today’s markets are telling you. And they’re right.
Click here, and it will begin playing on your screen without further ado.
Best wishes,
Mike
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.
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The problem is the people in Washington aren’t economists or investors therefore they simply don’t understand what the Fed is up to.
@kurt, at least they shop, drive cars, retirement plans and brokers to inform them of the drop in value of their future.