Real Wealth #220 02/25/2009
Dick Morris asks... Have you ever heard of a "depressflation"?
Dear Gold & Energy Advisor subscribers,
A few minutes ago I received and email promotion from Dick Morris, the political consultant made famous during his years advising President Clinton.
In recent years he has become the bane of existence for the Democrats. His many appearances on FOX, evidences his move to the conservative end of the political spectrum.
His email today caught my attention for good reason.
His analysis of the current economic landscape is exactly in line with what I have been writing for several years. Frankly, his argument below is the best case for buying and investing in gold I’ve seen from a
Here judge for yourself...
“Have you ever heard of a "depressflation"?
No surprise if you haven't. It's a term I coined myself, to describe the imminent -- and inevitable -- result of the Democrats' plans for "rescuing" the economy.
Think 1970s-style "stagflation" but much, much worse: massive inflation, even hyperinflation, together with Depression-like economic stagnation. A depressflation.
Why is this inevitable?
Because with a bi-partisan consensus that deficits are vital in fighting the crisis (or easing the pain) there is no constraint on Obama and his party. The sky is the limit on spending, to the tune of a trillion-plus dollars over the next two years alone.
And there are only two ways to pay for it: (1) printing more money, which causes inflation, and (2) hiking taxes, which kills investment, businesses and jobs.”
I think it’s especially ironic to read this the day after the Democratic-controlled House approved another $410 billion domestic spedning programs, bristled with earmarks.
Republicans assailed the measure as too costly — particularly on the heels of a $787 billion stimulus bill that President Obama signed last week. The Federal Deficit for 2009 is now estimated to be a whopping $1.75 Trillion. Yet, there's bigger spending coming on the horizion. President Obama is now proposing setting up a $634-billion reserve fund to help pay for proposed healthcare reforms.
This is exactly the kind of runnaway spending that will destroy the U.S. Dollar. It's the reason that every investor should be buying Gold. The end game for gold is going to be $5,000 or more as the reality of this depressflation.
The wild card Dick Morris doesn’t mention is the staggering amount of bad debt that on the verg of bringing down the world’s financial markets.
I’ve warned steadily about the looming danger of an all out collapse of anywhere from $21 to $42 Trillion in Eastern European debt. News stories continue to lend credibility to my concern. If that happens all bets are off. We’ll not only get depressflation we’ll get a monetary collapse on top of it.
It’s with this background that I strongly urge you to take measures to prevent your and your family from being financially wiped out by either or both depressflation, which I have referred to in the past as stagflation, or a monetary collapse, which I have called the death of the dollar.
Dick Morris is right there’s a world or economic hurt coming our way and there’s no way to stop it.
The printing presses are running around the clock, the politicians are piling up the pork and now it’s a matter of “when” instead of “if” the day of reckoning occurs. It’s the reason I have been recommending physical gold and rare gold, silver and platinum coins. It’s the reason I recommend putting physical gold and platinum in your IRA’s (866-697-4653).
I just acquired a group of “MUST OWN GOLD AND PLATINUM COINS”. I believe these are the perfect for investors looking to hedge themselves against the oncoming depressflation and or monetary collapse I and a growing extremely credible group of knowledgeable economists, politicians and business leaders are warning lies shortly ahead.
Give my gold experts a call at 866-697-4653 and find out more this special group of “MUST OWN GOLD AND PLATINUM COINS”.
James DiGeorgia, Editor
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