Apparently, my July 26 posting hit a responsive chord. But much to my chagrin, what people seem most interested in is my reference to dangers involved in a “darkest scenario.” From its inception, I have gone to great length with this blog, to meticulously identify and discuss the policies, activities and ramifications generated by the Fed, the government, and the full variety of market participants. Some might say, ad nauseam. But my purpose is very simple and straightforward. The purpose is to identify the policies and activities being applied to the market and economy, by agencies in control and to discuss and understand the results to be anticipated. Further, to review those actions and expectations, in light of historical results and known differences. I am not going to address this issue at great length, or otherwise again. So this one-time discussion of the matter may be somewhat loquacious.
America had a long history of bigotry and many strived for rapid change throughout the 60’s. But generally speaking, aside from randomly dispersed rednecks and the South, people treated each other with dignity and respect. Generally speaking, people were tired of segregation and the ignorance that goes with it. People respected and obeyed the law. As a simple example, if someone accidentally missed a turn on the road, they would simply drive to the next street or offramp and turn around. At that time, going five or ten minutes out of their way to correct their own error was never a problem or even a consideration. Today however, I’m confident to tell you that 99 out of 100 in that same circumstance, would simply refuse to be inconvenienced. With no hesitation, they would make a right turn from the left lane and inconvenience any number of people in the process without any consideration whatsoever. America’s determination to make things right in the 60’s has today been replaced by our unwavering determination to protect our personal right to “get mine!” The right to text while driving, the right to drive while Pokemon Going, the right to be as stupid and inconsiderate as possible, practically without fear of ramifications or reprisal.
Now, let’s look at the facts. In the 60’s, when civil rights frustration boiled to a head, we experienced the Watts riots. People burned their own neighborhoods, because they felt they had nothing else to lose and were frustrated with what they saw as a complete disregard of human rights. When the Rodney King beating verdict was released in 1992, people not affected or involved in the slightest, saw it as an opportunity and the perfect excuse to pillage and destroy. There was no statement to be made other than, “I gotta get MINE!”
Gun-owning households in the U.S. reached a peak near 50% in 1977. Background checks and other requirements have brought that percentage down to 31% today, but the number of guns owned by households, on average, has doubled from four to eight over the past twenty years. And the percentage of assault-type weapons has surged dramatically, since discussions of limiting or outlawing them entirely began in earnest after Sandy Hook.
Now, apply this new “gotta get mine” personal rights mentality to a situation where the U.S. government suddenly announces their inability to make the interest payment without simply printing new money. The country defaults, the dollar devalues dramatically and banks shut their doors. People are caught flat-footed and unprepared, with little cash (that’s now worth practically nothing anyway), shortages of everything and gangs now attempting to roam the streets, loaded for bear. Martial law is implemented with daily curfew. Life as we knew it has ended. Depending on the government’s ability to maintain order, the country struggles to reduce curfew and support necessary workers. But in this scenario, precious metals will be one of the most valuable commodities on Earth, particularly silver, which will provide a spendable amount of value in a small amount of space. Gold can hold a great value in a small area, so a combination of precious metals should be highly recommended. Fancy cars, homes and families could become targets for overwhelming frustration and anger. Like I said, it’s not a pretty picture. But earmarks are visible for those willing to look. FEMA has been preparing, unlike any other time in history, for an emergency of massive proportions, for almost a year now.
The anger and frustration generated will inevitably come from realization of the fact that the Fed, government and others entrusted with public well-being have not only failed to do their jobs, but refused to “connect the dots” and spell out what these failed economic attempts really amount to. Has anyone in government, other than Ron and Rand Paul, tried to make people aware of the fact that we’ve doubled the national debt in ten years and what that truly means? The answer is “no,” so their warnings have easily been swept under the rug. The Fed nor the government want any type of audit conducted, because that would surely let the cat out of the bag, leading most certainly to a panic, resulting in a scenario similar or identical to the one I’ve already described.
My indignation in this matter stems from the fact that American values have deteriorated to the point that the U.S. Census recently reported that 45 million Americans live below the poverty level and in the past ten years, though we’ve doubled our debt, we’ve done nothing to effectively reduce that number. And the reason is as easy to see as turning on a television, where you can witness a reality television star running for President and you can be solicited to pay 50 cents a day to rescue and nourish a mistreated animal or pay 50 cents a day to feed a child that would otherwise be dead in a month, AS IF THEY’RE EQUIVALENT! We’ve allowed ourselves to become desensitized. I’m not against choice. I’m against irresponsible choice. Until no one person suffers from an absence of human rights, choosing personal rights over human rights is an irresponsible choice.
In summary, choosing not to protect your family from the coming economic storm is irresponsible. Precious metals ownership is the best possible preparation for whatever economic fallout may occur. If there was ever an appropriate time to “get yours,” then now is the time!