Remove The Veil Posted by James Randolph on January 01, 2009
Remove The Veil
December 31, 2008 Has the over 8.7 trillion in bailouts in 2008 historically proven to be all in vain? I’m afraid so and it might take all of 2009 and another 7-9 trillion before they change course by halting this dangerous game of throwing good money after bad.
Bullion and rare coins ended the last trading of the year at 881.90 up a bit over 7.00 or .03%. Both bullion and rare coins had a strong December with the bullion up 14.70 for the month. PCGS Certified coinage in grades of MS 61 to MS 66 increased from 16.26 to 23.45 percent for the month of December and this helped stabilized returns for the year in which gold had a very rough start. For 2008 spot price is up 5.58 percent proving its power as a safe haven in a year that most investors shaved 22-45 percent off their net worth column.
So back to throwing good money after bad GM has quickly disbursed its newfound fortune into its GM capital division, this was for the purpose of easing consumer credit requirements. Sorry I just have a new year laugh out loud on this one. Come on folks, can credit get us out of this one. Wasn’t GM going to restructure with that new money?
More proof of the coming storm is that Fannie Mae is attempting to force the FDIC and IndyMac to buy back bad loans. Yes folks we are just getting started with this bailout fairy tale capitalism approach from government and you should brace your self for the coming of a life altering financial fall out. My argument is history will show that the United States entered a depression at the second quarter of 2008. If your banks are penniless and 80 percent of the world’s financial institutions are insolvent you have a depression and 8.7 trillion of under the table stimulus is really just a see through veil for anyone on top of this. So enlightenment is what I hope for you in 2009.
No, not that everything gets better, which is not going to happen. I hope that you remove your own veil and design a clear plan to handle different levels of change and come out on top. If you feel that bullion or certified rare coins can help then the Certified Gold Exchange staff will be here to help you chat a better course.
Senior Gold Specialist
Certified Gold Exchange, Inc