‘Idiots’ controlling the world’s economies – gold in lockdown
Paul Mylchreest’s latest prognostications on the global economic situation make for worrying reading. While gold could be a part of the ultimate answer it is currently in lockdown while dollar devaluation looms.
Monday , 09 Jul 2012
For some scary nighttime reading I would recommend Paul Mylchreest’s latest Thunder Road report – Part 1. Once one gets by some of the popular music and U.K. football references which may be obscure to non-Brit readers (and even to many Brits) and into the nitty-gritty of Mylchreest’ s latest irregular report, everything makes a huge amount of sense – and in the words of Hollywood hype -‘be afraid – be very afraid’. Or perhaps even more apposite might be one of the recurring catch phrases from excellent British TV comedy Dad’s Army (about the Home Guard during World War 2) – ‘We’re doomed, we’re all doomed!’
One cannot dismiss Mylchreest’s views as just scaremongering. As an analyst he has nearly always been correct in his views on what is going on in the world’s economic system, not that that is too difficult to define, and in its potential consequences. Some may not have actually come about yet but we do seem to be inexorably heading in the direction he propounds. And this, as a number of other commentators have also suggested, is effectively total collapse of the economic system as we know it brought on by huge unsustainable sovereign and bank debt and the huge bubble in MONEY through it being printed by the central banks in a seemingly vain attempt to drag the global economy out of the quagmire the debt situation has left us in. Solving the debt problem by the creation of ever more debt does not seem to be the most sensible solution.