Possible documentary to cover by SOTT?

[Infiniteness]

Hi SOTT,

Here is a documentary called "Melt up" by some amateur economists, that covers the US economic crisis. It covers hyperinflation, debt, corruption on wall street, commodity manipulation, government spending, high employment, history, and many other things. Even though there were some points and statements that I didn't agree with, I think they did a overall good job. I think it maybe a documentary that SOTT might want to cover.

Link: http://www.youtube.com/watch?v=eb1n1X0Oqdw

 

[Nathan]

I'm working my way through the doco as I write this. So far, it seems quite interesting. I passed it on to a friend of mine who has been into stocks for a while now and really seems to know his stuff (he's had some valuable mentors from the US along the way). Anyway, this is what he said to me:

So boil it all down and you get GFC2 [Global Financial Crisis 2]. GBP/USD and EUR/USD have been selling off hard for the last week... And will only keep goin.. US hyperinflation by printing money will only devalue the USD in the end and nothing will help them. China owns them and theres nothing they can do about it. They own the greater percentage of US treasuries, its ridiculous.

The Euro is devalued against the USD...Increases the USD in the short term... so with the euro down... then the USD down and china controlling the bond market... plus a number of other reasons like Gold was decoupled from the dollar a while ago... means gold wont move with the dollar...

Buy Gold
Buy Gold
Buy Gold

Its becoming rarer
Dollars being printed means its in abundance ... devalues..

Real estate didn't REALLY do much here [Australia]... and is booming ... on nothing..

Soon as you see a few cracks appear the fear will come back... it'll be nasty... money will flow into gold like nothing else.. so if you have a little before it happens... let them fuel the higher prices... $2000 an oz...

I asked him what he thought the economy might be like at the end of the year.

Depends on China. Theres cracks showing now. Eg.. currencies rise while interest rates rise. we just had the most rises in interest rates in history... when it rose the last time it should go up... it sold like a demon and has continued... even with china buying our stuff.. if we are in a resources boom.. our currency [Australian] is pegged to our commodity exports.. stuff doesnt add up ie... we're screwed and we dont know it.

Basically he's saying the same thing as was said in the old SOTT podcast: if you want to put your money in anything, consider putting it in gold. (Not to say there is no risk in gold, there is risk in everything.)