Investors in certified gold coins are often branded as paranoid and obsessed with doomsday scenarios, but our day of affirmation could well be just around the corner.
Posted by Adam King on January 21, 2011
Certified gold coins – an ounce of prevention.
January 21, 2011 – Investors in certified gold coins are often branded as paranoid and obsessed with doomsday scenarios, but our day of affirmation could well be just around the corner.
Here’s one scenario: America’s cities are half burned to the ground; electricity is sporadic where it is available at all; the food supply is sparse and unreliable because only a few roads and bridges remain useable; and armed vigilantes, indistinguishable from gangs, rule the streets. That is not some apocalyptical post nuclear war world – that is where we are headed.
The power grid is in desperate need of $1.75 trillion in repairs to keep it in operation. Vast numbers of vital bridges are considered to be dangerous. And already local governments are collapsing under the weight of increased responsibility for maintaining infrastructure and slashed funding from the state.
Last year Newark, NJ cut its police force by 16%, foreshadowing even more drastic moves in Camden. That city’s layoff of nearly half of its police force, one third of its firefighters, and over 100 other municipal workers is an open invitation to anarchy, and vigilantes – the Guardian Angels – have moved in to patrol the streets.
New Jersey is not an isolated case – all but four states are in the red and at least a dozen others are in equally critical circumstances, putting countless local governments in danger of default. Meredith Whitney, a widely respected Wall Street analyst, says it will take only 50 to 100 sizeable defaults to seriously disrupt the municipal bond market. When that happens, even healthy local governments, deprived of a lending source, will be in peril.
According to Webster the paranoid suffer from systemized delusions. That more aptly applies to those who proceed as if nothing is wrong than to those who are taking an ounce of prevention with investments in certified gold coins.
Stewart Lawson
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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