The International Forecaster, Bob Chapman, warns about the coming collapse and that Gold is to Stand Against Big Hyperinflation that seems unavoidable at this point , especially with the FED's printing presses turning at full speed .
"What we are about to tell you may be the most important information that we have imparted in almost 50 years. something very bad is looming – we don’t know the exact configuration yet, but we think the key is the collapse of the dollar, which will send gold and silver to considerably higher prices. These events could unfold over the next 2 to 4 months. There could be devaluation and default of the US dollar and American debt. You must have at least a 6-month supply of freeze dried and dehydrated foods, a water filer for brackish water, and assault weapons with plenty of ammo and clips. You should put as much of your wealth as you can in gold and silver coins and shares. You should not own any stocks in the stock market except gold and silver shares…"
Mr. Chapman has been warning of the coming collapse since as early as 2000, he always recommended buying precious metals as hedges against hyperinflation.he foresaw the Real Estate market collapse . He is now issuing dire warnings of an imminent collapse of the US Dollar, US Treasury bonds and global stock markets.
Read full article here…
Monday, June 1, 2009
Debt Negotiators May Give Little Relief to Consumers
By Jamie McGee
May 29 (Bloomberg) -- Ulish Hopkins, a former bus- dispatcher from Chicago, turned to a debt-settlement company last year after piling up about $30,000 in credit-card bills. Seven months later, he owed close to $40,000.
Hopkins says the company told him it could reduce his bills by about 50 percent through negotiations with lenders. He was told to stop paying creditors and to put monthly payments in an escrow account, which the firm used to cover its fees. Instead of reducing his bills, interest and late fees raised his indebtedness and damaged his credit score.
“They never told me that the money I was paying wasn’t going to my debt, it was going to them,” said Hopkins, 59, who quit work in January 2008 after a brain tumor led to surgery. He now receives $1,539 a month in disability checks. “You are better on your own.”
Credit-card delinquencies are at record highs, according to Fitch Ratings, and the U.S. unemployment rate of 8.9 percent is the highest since 1983. As more consumers fall behind on bills, settlement companies often end up adding to the debt burden rather than offering a cost-saving solution, said Gail Cunningham, a spokeswoman for the National Foundation for Credit Counseling in Silver Spring, Maryland.
“There has been significant growth in the debt-settlement industry based on the economic decline,” Cunningham said. “People are financially distressed and when that happens, the unscrupulous among us seem to come out in droves.”
Sued for Fraud
Wesley Young, legislative director of the Association of Settlement Companies, a Madison, Wisconsin-based lobbying group, said there are probably more than 500,000 customers of as many as 1,000 debt-settlement companies. The association, which includes about 30 percent of the industry, requires members to disclose payment plans and credit-score risks upfront, he said.
New York Attorney General Andrew Cuomo has begun a national investigation of settlement companies, and has sued two for fraud and false advertising. Illinois Attorney General Lisa Madigan has also filed two lawsuits against debt-settlement companies, alleging they “engage in deceptive marketing practices” and “do little or nothing to improve consumers’ financial standings.” Texas Attorney General Greg Abbott sued a debt settlement company in March, saying it engaged in “deceptive and misleading acts,” according to court documents.
Read entire article:
May 29 (Bloomberg) -- Ulish Hopkins, a former bus- dispatcher from Chicago, turned to a debt-settlement company last year after piling up about $30,000 in credit-card bills. Seven months later, he owed close to $40,000.
Hopkins says the company told him it could reduce his bills by about 50 percent through negotiations with lenders. He was told to stop paying creditors and to put monthly payments in an escrow account, which the firm used to cover its fees. Instead of reducing his bills, interest and late fees raised his indebtedness and damaged his credit score.
“They never told me that the money I was paying wasn’t going to my debt, it was going to them,” said Hopkins, 59, who quit work in January 2008 after a brain tumor led to surgery. He now receives $1,539 a month in disability checks. “You are better on your own.”
Credit-card delinquencies are at record highs, according to Fitch Ratings, and the U.S. unemployment rate of 8.9 percent is the highest since 1983. As more consumers fall behind on bills, settlement companies often end up adding to the debt burden rather than offering a cost-saving solution, said Gail Cunningham, a spokeswoman for the National Foundation for Credit Counseling in Silver Spring, Maryland.
“There has been significant growth in the debt-settlement industry based on the economic decline,” Cunningham said. “People are financially distressed and when that happens, the unscrupulous among us seem to come out in droves.”
Sued for Fraud
Wesley Young, legislative director of the Association of Settlement Companies, a Madison, Wisconsin-based lobbying group, said there are probably more than 500,000 customers of as many as 1,000 debt-settlement companies. The association, which includes about 30 percent of the industry, requires members to disclose payment plans and credit-score risks upfront, he said.
New York Attorney General Andrew Cuomo has begun a national investigation of settlement companies, and has sued two for fraud and false advertising. Illinois Attorney General Lisa Madigan has also filed two lawsuits against debt-settlement companies, alleging they “engage in deceptive marketing practices” and “do little or nothing to improve consumers’ financial standings.” Texas Attorney General Greg Abbott sued a debt settlement company in March, saying it engaged in “deceptive and misleading acts,” according to court documents.
Read entire article:
Oil Falls From Seven-Month High on Signs OPEC Output Climbing
By Christian Schmollinger
June 2 (Bloomberg) -- Crude oil retreated from a seven- month high in New York on signs OPEC’s output is climbing and as traders who bet on rising prices sell futures to lock in gains.
Oil jumped as much as 3.6 percent yesterday, capping a 12 percent increase since May 21, after the U.S. and China reported increases in manufacturing activity. The Organization of Petroleum Exporting Countries raised their production by 1.5 percent in May, according to 
a Bloomberg News survey.
“OPEC countries are starting to see prices at $70 and then they start exerting less discipline on the quotas,” said Ben Westmore, a minerals and energy economist at National Australia Bank Ltd. in Melbourne. “The price ran pretty high overnight so we may be seeing some profit-taking as people still consider the fundamentals quite weak.”
Crude oil for July delivery fell as much as 78 cents, or 1.1 percent, to $67.80 a barrel on the New York Mercantile Exchange. It was at $68.42 a barrel at 12:07 p.m. Singapore time. Yesterday, oil closed at $68.58 a barrel, the highest settlement since Nov. 4. Prices are up 53 percent this year.
Futures climbed yesterday on expectation that fuel demand will increase as the economy improves later this year. The Institute for Supply Management’s U.S. factory index strengthened to 42.8 from 40.1 in April and China’s Purchasing Manager’s Index showed manufacturing in May gained for a third month.
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