Submitted by: Francis Soyer
This morning the data points as they have been for the past two years confirm the destruction of the U.S. dollar, its purchasing power and the impending fall of the wealth of this nation and its citizens. Nearly 45 million in the U.S. are on food stamps. As another blow to an already deeply hurting group see this that has been been censored by youtube: Now is the time to make preparations for civil unrest.
and this:
Record Number Of People Say They Are Paying More For Groceries Now Than Ever Before
Submitted by Tyler Durden on 08/16/2011 17:48 -0400
Somehow even as all that deflation in home prices continues, like perfectly joined communicating vessels, countervailing inflation continues seeping into pretty much every other aspect of society. But don't take our word for it, (or even gold's, which is just under all time record notional highs): according to Rasmussen, "Americans nationwide continue to lose faith in the Federal Reserve Board to keep inflation under control, with the number who say they are paying more for groceries now at an all-time high." Specifically, "93% of adults report paying more for groceries now than they did a year ago, the highest finding to date. Only four percent (4%) say they’re not paying more for groceries now compared to a year ago. Prior to the latest results, the number that said they are paying more for groceries ranged from low of 75% in April 2010 to a high of 91% in May of this year." However, since many of these same adults are transferring intangible "savings" from their non-payable mortgage check courtesy of a home market that has now ground to a halt for over 6 months, aka squatters rent, to pay for staples, few really mind. They just like to bitch and moan about it because it means fewer Apps downloaded for the iPad.
What is probably just as interesting, is that when it comes to trusting the Fed: that source of unlimited liberal policy, Democrats, as is to be expected, are far more confident that the Fed can keep inflation under control. Or, in other words, have faith that it can do anything at all correctly: a faith that has long since been lost virtually in every other segment of society. Not surprisingly, those whose money is in the market, and are invested in the US, are also hoping the Fed knows what it is doing. Then again as we presented recently, this is a very paltry number on a relative basis, one can see why the bulk of the population is starting to loathe Bernanke and all he represents with a vengeance:
and this straight from the office of the Secretary of Defense Leon Panetta:
http://www.defense.gov/speeches/speech.aspx?speechid=1597
"To all Department of Defense personnel:
As I begin my second month in office as Secretary of Defense, I wanted to take the opportunity to share my thinking with you on one of the key challenges we face as a Department: how to ensure that our military has everything it needs to protect our national security at a time of considerable fiscal challenge in our country.
I know that many of you have been watching with concern the deficit reduction negotiations in Washington. As President Obama has said, our growing national debt, if not addressed, will imperil our prosperity, hurt our credibility and influence around the world, and ultimately put our national security at risk. As part of the nation’s efforts to get its finances in order, defense spending will be – and I believe it must be – part of the solution. "
To summarize, the cause of these financial ills all points to the devaluation of purchasing power and the coming collapse of the global financial system. Paper money is going by the wayside. The only option for safety is and always has been (Kings Money) gold and silver.
