Reflections from the Silver Summit – Spokane, Washington
After two days for presentations from experts on our economy and our world economic situation, I would rate the following three presentations as the best (my blue ribbon presentations). This conference was well attended by some 500 investors and hard asset believers. My three finalists for the best and most comprehensive presentations were the following:
1. David Morgan: www.silver-investor.com. David’s message was that paper money has a limited life cycle. Our current global fiat monetary system is now in its final end phase according to David. David ended his presentation with words from one of our founding Fathers ‘Give me Liberty or give me Death’. Basically, David views our current trends as anathema for freedom and for free markets. We need to return to the philosophy of our Founders if we desire free markets and personal freedom. David views himself as an Austrian economist and he also views man as a ‘spiritual’ being. TRUTH is what we now need as ‘truth’ is how the Universe works. David’s presentation was overwhelmingly approved by those in attendance…during his presentation and after.
2. Bix Weir: www.roadtoroota.com. Bix’s message is revolutionary (and exceptionally well presented). Bix senses that our entire fiat (electronic) monetary system could collapse in the blink of an eye. We will need to restart our entire economic and financial system from a new foundation after the coming crash. Bix made it clear that all the gold and silver markets are being manipulated by paper derivatives and imaginary option contracts (naked shorts). Real silver is not being ‘priced’ based on actual supply and demand but human manipulations and corrupt authorities. The entire System is corrupt and unrepresentative of a free market system. The audience supported the message and details which Bix presented. See his website for additional comments and relevant information.
3. Greg McCoach: www.gregmccoach.com or www.amerigold.com. Greg’s presentation was based on the premise that most people are uninformed and unaware of the real markets. What is needed now is education of the masses who have been deceived by false public education, Keynesian economics, and fear of truth. Greg sees our Fed as a corrupt institution and our Keynesian economists as mislead by false theories and concepts. We are now witnessing the END of AMERICA according to Greg. See the Power Point presentation which Greg gave in 2009 at his website.
My comments: Basically, all the presenters had a message of warning for investors and Americans going forward. We are entering dangerous times with markets either collapsing from the weight of excessive debt or via hyper-inflation which could develop from the policies of our Central Banks. The best history and evidence for hyper-inflation was presented by Leonard Melman, www.themelmanreport.com. He documented the past hyper-inflations of France, Germany, Zimbabwe to support his contention that this trend could develop in our future. My view is that all his evidence, however, was based on markets where ‘paper’ money was the unit of account for the markets. Today, we do not have ‘paper’ money in our Western World (except for 4% of money transactions). Some 96% of our markets are now ‘virtual’ with virtual digits as our units. This type of market creates a different situation for the markets. We now could witness a complete digital (cyber) collapse of our markets in the ‘blink’ of the eye. Virtual markets are new to our history and not likely to create hyper-inflation!
We now have high-speed computers and virtual money units which are mostly distributed by our Central Banks and HFT traders at near the speed of light. This type of market could cause mini flash crashes to offset any actions created by our Central Banks and their trading desks. The reality is that our markets are now controlled my traders throughout our planet who trade currencies and virtual derivatives for speculative purposes. This type of market will overwhelm the operations of Central Banks and their intentions. The markets are now aware of all the manipulations which are occurring by policymakers and financial authorities. These manipulations can be offset with the ‘click’ of a computer key if emotions turn negative (by a herd mentality within the global trading community). We need to be prepared for sudden changes in direction of all markets going forward (and huge volatility).
The general view of most presenters was that the election outcome (whether Obama or Romney) will not change the direction of our global economy. We have now passed the ‘point of no return’. Our Debt can not be managed or repaid. Europe is heading for a collapse and a new System and America will either follow or create this Global Collapse in the coming months. Some of the best evidence for our financial situation can be diagnosed via this website: www.usdebtclock.org. America is now some 16 trillion in debt with trillion $ deficits likely for years. Our largest banks are interconnected with other global banks which have some 600 trillion in derivatives which can not be honored (as the markets collapse). Tax revenues are much less than government spending and new growth can not overcome this entrenched situation. Market ‘confidence’ is the main problem as traders, investors, and speculators, now realize that all the markets are being manipulated. Our only hope now is a NEW SYSTEM for America and the World.
People are talking about all kinds of ‘new’ Systems for our country and the planet. Check out: www.youtube.com and type in ‘new economic system needed’. There are many social blogs which now understand that a ‘new’ System for our planet is needed. The big questions going forward will be centered around philosophical issues and concepts. What type of ‘money’ should be adopted? Is ‘money’ needed in our wired realtime society? Do we desire a One World Order governed by a group of elite administrators? Is the Nation-State system obsolete for our interconnected and wired planet? Who should control all the natural resources of our planet? Does the current philosophy of ‘might makes right’ work in our internet age? How can individual freedom and personal choice be preserved and expanded with a ‘new’ System? The questions are endless and difficult to meld with a global world society. Yet this is where we are heading.
My personal vision is presented at my blog called: http://kingdomecon.wordpress.com. What we now need to think about are core questions centered on ‘truth’, ‘reality’, ‘spirituality’, and ‘global liberty’. These will be difficult issues for everyone. Truth and Reality is my quest! What is ‘truth’? What is ‘reality’? What is ‘money’? Who owns our planet? Who rules our planet? Is man ‘at effect’ or ‘at cause’? Does the ‘individual’ come first or the group? All these issues and questions are relevant prior to establishing a NEW GLOBAL SYSTEM. That is my missive for today: I AM, http://kingdomecon.wordpress.com.