Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe
Source: Bob Moriarty for Streetwise Reports (3/15/20)
Bob Moriarty of 321gold explains why he believes the world is in uncharted waters.
We have sailed off the map of the known world into totally uncharted waters. No one, including me, knows exactly where we are or where we are headed.
But hic sunt dracones is an excellent warning, here be dragons. If I was still flying and needed to give a brief to my passengers, I'd be saying, "I have some good news and some bad news. First the bad news. We have flown off the edge of my maps and we are totally lost without a clue as to where we are."
"On the other hand, we are making great groundspeed."
The
In a normal year 57 million or so people die. After all, everyone is going to die of something. So adding on an additional 45 million is hardly the end of the world. Unless of course you happen to be one of those 45 million or related to them.
The real killer is going to be the knock-on effects of the virus and not many people are discussing them. That's because we are off the map and in uncharted waters where frankly governments fear to swim.
Health care is going to be rationed. At some point if you are in the higher risk categories you will be sent home to die. We don't have the hospital beds or ventilators for all those who might need them. In Italy in one area, if you were over 60 you were out of luck. And I don't know anyone in the US yet talking about it but we have the most expensive medical care in the world. Who is going to pay the hundreds of billions of dollars for emergency care? Hospitals will be packed with virus patients and for anyone else suffering from anything else, going to the hospital will be a death sentence.
According to the gurus, 59% of Americans can't find $1000 to cope with an emergency. When vast segments of business are simply shut down for weeks or months, how are people going to pay their bills, much less cope with an emergency? Look for property crime to explode higher.
Locks keep out honest people, not crooks. And with the police now stealing more from Americans than the burglars do, whom are you going to go to? In San Francisco the police don't even want to report property crime unless it's over $1000. That's called a license to steal. What happens when the virus hits the street people in LA and San Francisco and Portland? Who is going to pay?
Well before the virus became big news, it was obvious to a lot of serious financial writers, including me, that the financial system was about to blow sky high. I started predicting the crash over a year ago. The Fed postponed it by flooding the financial system with cash starting in late September but the flood has become a tidal wave lately. Behind the curtain something very serious is happening but they don't toss $5.5 trillion into the coffee and donut fund for nothing.
I believe the banking system is about to break on a permanent basis. Most of the people I read seem to think pumping money by central banks can solve the financial problems but let me remind my readers that the central banks pumping unlimited money into the system is what caused the problem. When you have too much debt, you cannot solve your debt problem with even more debt.
In 2007 the financial problem went back to subprime lending. Today out of control borrowing and spending by corporations will drown the banking world with defaults. We will have to have a jubilee and figure out how to go back to honest money. You cannot have an honest financial system or honest government without honest money.
The virus is not the cause of our financial problems or crime issues or stupidity in government. Face it folks, people go to work for the government because they are too lazy to work and too nervous to steal. The founding fathers would be astonished at the circus of clowns we have running government today.
All debt gets paid. It gets paid either by the borrower or by the lender but all debt gets paid. We have the biggest crisis in US and perhaps world history. We can only hope real leadership stands up, speaks out and takes charge.
The alternative is too dreadful to consider.
Bob Moriarty President: 321gold Archives 321gold
Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
Disclosure: 1) Statements and opinions expressed are the opinions of Bob Moriarty and not of Streetwise Reports or its officers. Bob Moriarty is wholly responsible for the validity of the statements. Streetwise Reports was not involved in the content preparation. Bob Moriarty was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. 2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Gold Explorer Highlights 2020 Achievements and Outlook Source: Streetwise Reports (01/29/2021)
Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.
Explorer's Channel Samples Find Outcropping High-Grade Mineralization at Brazilian Gold District Target Source: Streetwise Reports (01/29/2021)
Cabral Gold's channel samples at the JM target provide "further evidence that numerous high-grade veins occur within the Cuiú Cuiú district."
Explorer Completes Phase 2 Metallurgical Work for Palladium-Copper Project Source: Streetwise Reports (01/28/2021)
Generation Mining intends to wrap up the feasibility study on Marathon this quarter.
Silver Firm Reports Q4/20 Processing, Production Numbers from Mexico Project Source: Streetwise Reports (01/28/2021)
MAG Silver's joint venture project Juanicipio produced 230,000 ounces of silver during the quarter ended Dec. 31, 2020.
Explorer Reports High-Grade Gold-Silver Intercepts at BC Golden Triangle Property Source: Streetwise Reports (01/27/2021)
Scottie Resources Corp. advises that the target remains open in most directions.
Golden Arrow Resources Out Exploring Again After COVID-19; Hits High-Grade Gold at Tierra Dorada in Paraguay Source: The Critical Investor for Streetwise Reports (01/27/2021)
The Critical Investor explains why he believes "investors have an interesting opportunity to invest in a pretty derisked, undervalued and experienced explorer with three chances for success."
Junior Mining Sector 'the Best Value in the Space' Source: Streetwise Reports (01/27/2021)
The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.
Shenanigans Abound: Gold, Silver and Cryptocurrency Source: Michael Ballanger for Streetwise Reports (01/26/2021)
Sector expert Michael Ballanger explores the generational trends currently shaping investment markets, including the precious metals.
MMT Survey Helps Explorer Identify New Large Target at Ecuador Property Source: Streetwise Reports (01/26/2021)
Aurania Resources reported that data from an ongoing Mobile MT Survey identified an extensive target at Tsenken at its Lost Cities - Cutucu Project in southeastern Ecuador.
Royalty Company Announces 2020 Metals Deliveries and Sales Totals Source: Streetwise Reports (01/26/2021)
Nomad Royalty Company also provides an update on its royalty and streaming assets.
Founded by the same team that brought you Streetwise Reports.
Gold Explorer Highlights 2020 Achievements and Outlook
Explorer's Channel Samples Find Outcropping High-Grade Mineralization at Brazilian Gold District Target
Explorer Completes Phase 2 Metallurgical Work for Palladium-Copper Project
Silver Firm Reports Q4/20 Processing, Production Numbers from Mexico Project
Explorer Reports High-Grade Gold-Silver Intercepts at BC Golden Triangle Property
Golden Arrow Resources Out Exploring Again After COVID-19; Hits High-Grade Gold at Tierra Dorada in Paraguay
Source: The Critical Investor for Streetwise Reports (01/27/2021)
Junior Mining Sector 'the Best Value in the Space'
Shenanigans Abound: Gold, Silver and Cryptocurrency
Source: Michael Ballanger for Streetwise Reports (01/26/2021)
MMT Survey Helps Explorer Identify New Large Target at Ecuador Property
Royalty Company Announces 2020 Metals Deliveries and Sales Totals
© 2021 Streetwise Reports. All rights reserved.
Streetwise Reports is registered with the U.S. Patent and Trademark Office.