The 60th Anniversary of Nothing Special

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Gary Christenson - Deviant Investor

2014 is the 60th anniversary of nothing special. A quick review and comparison to 1954 seems appropriate.

In 1954 the Military-Industrial Complex was fighting a cold war with the USSR. Now they are fighting with Russia.

In 1954 the President of the United States played golf regularly. No change here.

In 1954 due to the paranoia and power-politics of Senator Joseph McCarthy and others, it seemed that “there was a communist under every bed.” Now it is terrorists that captivate the national paranoia.

In 1954 there was a great deal of unrest in the Middle East. In 2014 there is a great deal of unrest in the Middle East.

In 1954 the world powers were intimidating the smaller countries to advance their agenda. No change since then.

In 1954 the United States appeared to have the “moral high ground.” That “moral high ground” has slipped away.

In 1954 there were no Americans on Food Stamps. In 2014 there are almost 50,000,000 Americans who receive free food under the SNAP program. This is not progress.

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Brave New Deviant World

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Gary Christenson - Deviant Investor

Consider our economic world from two perspectives:

  • The Deviant View – as represented by those who visit deviantinvestor.com, read alternate media, are skeptical of the “official” news, and who critically examine the financial world.
  • or

  • The others – call it the mainstream media view.

Deviant readers are more likely to believe:

  • The US government gold supposedly stored in Fort Knox and at the NY Federal Reserve is mostly gone. (Deviant Investor survey showed that over 81% believe that less than 20% of the gold is actually available.)
  • The Federal Reserve will eventually be forced to increase QE instead of reducing it. (Deviant Investor survey showed that 62% believe that QE will be increased to $100 Billion per month, or more, by the end of 2014.)
  • Gold bottomed in December and is going to new highs. (Deviant Investor survey indicates that 92% believe that gold has bottomed and is going to new highs.)
  • The Federal Reserve has, over the past 100 years, debased the dollar, produced inflation, and substantially increased the profits for the financial industry mostly at the expense of the American people.
  • Dollars are unbacked debt based Federal Reserve Notes that work well for daily commerce. However, they have no intrinsic value and, in terms of decades, been not been a good store of value.
  • Gold and silver are excellent for savings and investing at the present time, have intrinsic value, and are a store of value over the long term.

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Gold: 14 Years & Three Patterns

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Gary Christenson - Deviant Investor

Gold peaked in August of 2011 and fell erratically into December 2013.

Was that the end of the collapse, or is there more downside coming in gold prices?

Bearish Scenario: Listen to the banks who are forecasting weak prices in 2014 and thereafter. “Nothing to see here folks, the dollar has weakened drastically since 1971, gold sells for 30 times its 1971 price, but it’s all good. Just move on and pretend… Gold will drop below $1000 before you can say 2016 elections…”

I’m not a fan of:

  • The bearish gold scenario when decades of Federal Reserve “printing” and US government budget deficits have all but guaranteed continued destruction of the purchasing power of the dollar.
  • Belief that even though dollar debasement practices have accelerated since the 2008 crash, gold prices will fall because bankers say so.
  • Propaganda that gold is useless and that unbacked debt based fiat currencies are solid and stable.
  • Large High Frequency Trading companies that short the gold market, loudly proclaim that gold prices will fall, dump a huge number of paper contracts on the Comex, quietly cover their shorts after the gold price crash, book huge profits, and then reverse the process as they push prices up. These traders are in the business of making profits so none of this is surprising.

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