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« A Golden Mistake Worth Repeating | Main | Michael Maloney: "We pay tax for the privilege to have currency" »
Wednesday
Oct262011

Do You Trust The Eurocrats To Deliver?

 


(From left) José Manuel Barroso, European Commission president, Angela Merkel, George Papandreou, Nicolas Sarkozy and Herman Van Rompuy

The financial markets are hanging by a thread as they await the outcome of the 22nd emergency summit of the European Union. A single positive statement by a lone Eurocrat can lift the DOW by 250 points, conversely a denial can send it tumbling down again. The suggestions to remedy the economic woes of the euro zone vary from modifications around the periphery to grandiose schemes borrowed from fairy land.

The first thing we need to do is understand is the difference between real aims and stated aims. The stated aims are those of which the Eurocrats talk about, however, their real aim is to stay on the gravy train, keep that lucrative job, the endless expenses, the first class travel and the gold plated pension, etc.

With this in mind we can see that the departure of any sovereign state from the EU is unacceptable as their empire would shrink and other countries may well follow them out of the union. So, in order to prevent Greece from leaving the fold they will do everything they possibly can to keep the union intact, whether its good for Greece or not. The presumption is that if they can manage Greece they can then prevent contagion. This is not quite so, as we all know the PIIGS are in real trouble with Italy's Prime Minister, Silvio Berlusconi, compiling a 'Letter of Intent' with regard to the new austerity measures proposed for Italy.

The summit currently in progress is tasked with just how do they find the large amount of money required to support the combined debts of these nations, the broad strategy is to boost the bailout fund accompanied with debt reductions, deferred payments, bank-recapitalization plans, hair cuts, more creative buzz words and of course, a serious dose of austerity for the populace.

The citizens are already rioting, such is their displeasure, so a new source of revenue will have to be found. That's easy, they will revert to the printing press and create enough capital to see us through until the next crisis, which will probably be next month.

This massive undertaking is in the hands of a small group of civil servants, some of the important players are shown in the above photograph.

Now ask yourself, do you trust these Eurocrats to deliver, of course not. They have well and truly blown it and the fallout will effect every citizen in the Eurozone via increased taxation, reduced benefits, regulatory controls, the continued debasement of the euro, etc.

We now need to prepare for a very tough decade and a standard of living so low that right now it is unimaginable. Our stance on these issues has not changed and our strategy remains unaltered.

First of all acquire both physical gold and silver and keep it in your hands, do not trust others with your financial future, take possession.

Secondly, if you are that way inclined, acquire a small number of quality gold and silver producers, this step requires work on your part, so find the time and do the due diligence, after all it is your hard earned cash that will be on the line.

Finally, if you are confident in your own assessment of the metals space, a few well thought out options trades may provide you with the leverage to the metals that not all the stocks can provide at the moment.

However, the speed of change is accelerating and how we position ourselves will require a fairly constant review of our holdings in order to survive and indeed prosper in the hard times ahead.

Regarding www.skoptionstrading.com. We currently have a number of open trades at the moment however, we do not update the charts until the trade is closed and the cash is back in our account. 

Our model portfolio is up 407.38% since inception

An annualized return of 113.83%

Average return per trade of 42.43%

86 closed trades, 83 closed at a profit

Average trade open for 45.85 days

 

 So, the question is: Are you going to make the decision to join us today.

Stay on your toes and have a good one.

Also many thanks to those of you who have already joined us and for the very kind words  that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.

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Reader Comments (3)

After a marathon summit, EU President Herman Van Rompuy said that the deal will reduce Greece's debt to 120 percent of its GDP in 2020. Under current conditions, it would have grown to 180 percent.

That will require banks to take on 50 percent losses on their Greek bond holdings -- a hard-fought deal that negotiators will now have to sell to individual bondholders.


Read more: http://www.foxnews.com/world/2011/10/26/eu-agrees-on-deal-to-reduce-greeces-debt/#ixzz1bxDcq6o5

As we see it without the banks agreement there is no deal, maybe they should have been involved earlier.

October 27, 2011 | Registered CommenterGold Prices

I don't understand as to how (after all that has been brought to light) we can believe the bull$#!T that comes off the lips of those vultures american as well as european ones. The only way we even stand a chance is by bring reform to a outdated financial system that favours the elite just as it has for centuries upon centuries. Gold and Silver have been currency since the times of the pharaohs. Paper is the problem and will ALWAYS be the problem as long as they have the remote for the printing presses.So in closing what we need here is change and change in a BIG way. END THE FED

October 27, 2011 | Unregistered CommenterOscar

I agree totally with the article. Trust must be earned ... not violated [raped] as it has been. Only a fool will look at this Euro meeting and actually believe, that they will follow through to both, the letter and the spirit of what has been supposedly resolved. The stage is being set for one of the worst, financial market's collapse in all of history ! I anticipate change ahead for us all .. .drastic change in a world of 7 Billion people.

October 27, 2011 | Unregistered CommenterRandy

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