many people who sent their gold to Cash 4 Gold Company in envelops have lost their gold , after investigations in turned out the problem is not at the postal service level but from inside the company , so watch out for your gold in case you are planning to send your gold by mail on an envelop you may lose it all and at best struggle to get the hundred dollar insurance money which at the end may tun out to be only $70 if you are lucky to even get those ...
Investigators say the company has not followed through in preventing a problem that brought hundreds of complaints.
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Business, Government & Politics, Local News, Municipality, News, Small Business
Sunday, July 12, 2009
The Coming Bond Collapse Bob Chapman
“The Fed and the Treasury had hundreds of billions of dollars for banking, Wall Street and insurance companies, but they couldn’t allow borrowers, facing foreclosure, a break. That would have staved off two million foreclosures and preserved $300 billion in equity. Congress couldn’t help average Americans, only the rich. We are in the greatest financial crisis since the early 1870s or the 1930s. These people have ravaged the financial and economic world and they are still in complete control of the system. That is because they have bought Congress and they have created a revolving door between NYC and Washington. Last year, banking, securities and investment firms gave $154.9 million in political payoffs. Real estate interests stuffed $136.7 million into politician’s pockets; commercial banks gave $37.1 million and hedge funds $16.7 million, for a total of $345.4 million. This is why campaign contributions have to end along with lobbying. When are Americans going to wake up to what is being done to them?
It is only a matter of when before there will be insufficient buyers of Treasuries to fund bond issues. We believe this has previously happened from time to time and that buying by the Fed from offshore accounts has held the market up. This we believe is why the Fed doesn’t want an audit. When foreign central banks stop buying, the Fed will monetize more and more as they are currently doing. They will be buying $3 trillion worth of Treasuries, Agencies and CDO toxic waste from banks over the next three months.
On June 5th, we saw the 2-year and 10-year Treasury yields spike as the Fed lost control of the market. We noted the actions at that time. It won’t be long before most long dated paper, that is over 5 years, will have to be monetized in a very big way. That also means interest rates will continue to move higher. We believe the treasury will be in the market for $1.2 to $1.5 trillion. That means the Fed may have to buy $600 billion to $1 trillion in Treasuries. They have already committed for $300 billion. It is hard to know exactly what this private corporation is up to because much of what they do is in secret. As rates rise it becomes very difficult to finance mortgages. At a 5.5% mortgage rate, 80% of pending and future mortgages cannot be consummated.”
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