Under the current economic system, gold and silver are true money, both have no liabilities attached to them. All other forms of money (fiat currency) have some form of liability attached to them and thus their value is not fixed. The framers of the US Constitution established the dollar and was further defined in 1792 but that has long since been abandoned without much fanfare.
“U.S. Treasury Delays 2012 GAAP-Based Financial Statements Until Mid-January” is a troubling press release. How in the world could a government agency with plenty of computing power fail to do its job? If the numbers were positive, I am sure there would have been no delay. This could only mean that they are bad and there needs to be some additional “massaging” until they can be interpreted to be acceptable. Recent snafus in the jobs numbers reporting can only be interpreted as a further decline in US economic activity. Ben Bernanke reaffirms the Fed’s purchasing of Government debt with money created out of thin air.
How long will the market accept these actions? Only Our Heavenly Father knows. The longer these suspect actions are taken, “the worse the problem”. The fiscal cliff will not be resolved but a huge Band-Aid will be placed over the problem and we will be assured that all is well and on the way to recovery. In the meantime, look for entitlement reform to take place. This means that all those who receive payments from Uncle Sam will come under the magnifying glass. They will attempt to renege on the commitments that we have spent a lifetime paying for. Isn’t that lawlessness?
How can I keep the value of my life savings intact? I don’t give investment advice but as for my family, we believe investing in hard assets has the greatest chance of retaining value. Investing in my business is another avenue. I am staying away from bonds since I believe that they are in a bubble and will burst soon, causing major destruction to retirement accounts.
My best investment is to continue maturing in my relationship with Our Heavenly Father. Answers to all of our problems are to be found in the Heavenlies. How do we tap into those solutions? By lawfully accessing them. Our fleshly nature will not have access since its motivation is lawlessness. Our new man will be given access since it operates by Love and will only use the solutions to bring forth life and help mankind.
By the way, China also reaffirms gold:
