Economic Update (October 6, 2009) Gold makes new highs in America

[canadianwhaaat]

problem is... that 81% of our exports from canada go to the U.S.... in order to keep exporting to them... we have to keep lowering our dollar as well for them to keep buying from us,,,,, so the question is.... will we essentially attach a wagon to what they are doing to there dollar and have a economic collapse here in canada?!!!!!!!!!!!!!!!!!!!!!!

[Straightsix76]

im suprised Oz is holding up so well, they have had the biggest housing bubble on the planet and it's starting to deflate--and we all know what that means

[lokir]

So am I.

It's bound to take a tumble in the next few months... everything is tied to the US Dollar due to the fact that 70% of its currency is overseas.

[Straightsix76]

so much for all this deflationary nonsense I keep hearing about

[mamcointl]

Is total economic collapse just around the corner? As the U.S. dollar weakens and the price of goods such as oil, grain and gold rise, many fear for the economic stability of the country. So how does one survive total economic collapse? The U.S. dollar is weak and it may be too late to save the finances of this debt-driven economy. However, it's not too late to learn some basic survivalist skills. Following are some tips and resources. Here's how to survive a total economic collapse.

[lindabebe835]

Only a matter of time before the administration really starts censoring the internet. There is way too much truth here and it is like holding a cross to a vampire. Youtube and a few other places like XM are the only places i get the truth.

[julianchosun]

Hey EndlessMountain,

Thanks for your analysis. I'm glad of your videos. You put it straight and simple. I'm starting to grasp what a lot of this is all about.

I was particularly interested in what you said about fiat currencies. I'm in South Korea and the exchange rate with my home country has not been good for a while now so I have a bit more saved here than back there.

Given the real 'crunch' probably coming soon, what do you think may happen over here on China's back doorstep?

[Nexstar100]

Ont. and Quebec...of course the centre of the Universe and BC has no water at all, no lakes or rivers....come on, BC has more water than Quebec with out a doubt!!!

[ozwasp]

Life's good here in Oz

[redline601]

collapse

well hurry up and bring it on

i m tired of waiting now

[cycosteve2006]

ok...can you explain to me why the dollar is going down and gold is going up ,unemployment is going up ,stock market is going up and real estate is going down...have you ever seen this before? ...what is going on ?

[buzzz121]

tells me the banks and Fed can manipulate the stock market by pouring in large $,, the underlying economy is fundamentally declining. they want more average people in the market before they crash it at around 10,500 DOW.

[harveybirdmannequin]

It's funny mainstream media was talking about how the Fed would have to time its exit strategy/stimulus pullback so as not to have hyperinflation. Well guess what? FAIL! Gold is telling you hyperinflation is here. Too late.

All the precious metal and commodities are making decades highs and the US economy still has not improved. Unemployment even using the doctored gov't numbers is at 26 year highs. Gov't spending is still out of control. Gold is not holding back not for the US not for anybody.

[hstone39]

I remember when gold all-time high was around $800 and now gold has hit new high at $1050. I wonder if the gold rally will continue.

[CAZALOBO]

dude, youre weird

[WarriorWaiting]

Pre '65 Dimes, Quarters, Halves and dollars = 90% silver (difficult to get in the UK - loads in the US and Canada)

UK (florins, thrupences, six pences, shillings, half crowns) :

Pre 1920 = 92.5% (sterling) silver - difficult to get in any great quantity except for very worn scrap.

Pre 1947 = 50% silver - Much easier to buy half decent coins in bigger quantities at spot price or a little below.

Bullion coins:

Britannias - 95.8% (Britannia silver)

Eagles - 99.9%

Maples - 99.99%

[slobomotion]

I'm reading the new web bot report and have to keep pausing for air.

It's pretty shocking.

Greetings from France.

[wildnutria]

I live in Canada to, where can I get long shelf life food?? Thanks!

[kilo199999999]

You can order it if you have to...Amazon is bad..efoodsdirect is good too.

[loveguitars]

Excellent

[Wittmann73]

lol commercial break

[lindabebe835]

I pray for this nation. Looks like to me the administation is intentionally trying to bring down this country. Unfortunately, people are still blinded by Obama and he getting away with doing much damage to the country. A lot of it will be almost irreversible.

[1pigslayer]

maybe we would not of collapsed if obama gave all the bail out money to the people instead of the rich corperations for filing bankruptcy.

[Eraser7622]

And the reason that your solution seems to make so much sense is simple.. because IT DOES! Yet, it went to the banks anyway. Why? Another simple answer.. because the entire system of economics and politics.. the ENTIRE system, is corrupt, bankrupt, deceitful, arrogant, artificial, anti-people, and.. soon... very soon.. OVER! The only question that really remains is "what's next?"!!

Best.

[1pigslayer]

i do not see to much lower class, but we will.

[nambypamby34]

Green span said we could see inflation ..if the fed doesn't time things right.

[frost122585]

We going to see it no matter what. Obama and all these other elected fools in office need to go learn some basic economics 101. All this spending is going to make things really bad- except for those in metals. Buy mining stocks and physical gold and silver. The mining stocks offer huge leverage. Stocks way down like VIPR and pcfg and others were either much higher or will go much higher. Those are long shots- for the safe medium term look at Pan American stock, Hecla, Gold Corp and others.

[morningmayan]

Great Vid Derek thanks!

[macroeconomiccrisis]

if the dollar collapses the euro is toast also, so euro/dolar will be funny and not so simple as you say

peace love and light to you

keep it up

thx

[DavidAKZ]

Gold makes new lows in Australia

[cowboycarl04]

currency is gaining strength and support with the show of raising interest rates and being responsible. This time last year, 1USD = 1.60 AUD.... insane ratio... not anymore.

[jayone451]

Is Australia even in a recession?

[DavidAKZ]

Narrowly avoided two period of negative growth. Due (to some extent) to government stimulus. $A 900 in your account if you put a tax return in last year. $A20k if you are a first time home buyer. Government play with unemployment numbers of course - officially 6%. No public debt very high private debt.

[frost122585]

unemployment was about 9.6% today I think. And as far as I can tell there has been no recovery- just a stopping of the bleeding- the problems that have caused the collapse (government spending and regulation) are still going stock and actually increasing. People wanted change- but what we have changed to is only "more" of the same.

[Seoshinawi]

If the world would crash and come to a standstill, gold would be the last thing we will need. No one will want to buy it...

[Lordpianz]

Got to agree...buying food and ammo are always good investment...Even better is livestock, agricultural things such as vegetable seeds and fruits...If you got the land for it...you can't go wrong with what people need to live!

[Eraser7622]

What about those (the overwhelming majority) who don't have the land, the resources, the knowledge or the desire to be self sufficient? What will they do? Slowly and quietly die in their unheated homes? Hell no they won't.. they'll come take what they need from your land in numbers that will prevent you from defending or having anything left for yourself. Sound extreme? Well, it is extreme, but much more likely than a return to business as usual in the US economy.. MUCH more likely. Best.

[Eraser7622]

You're right.. initially. But after that initial wave of panic, fear, hoarding, circling the wagons, it will become painfully obvious that people will still need to be able to purchase that which they need to live and can't provide themselves. This is when silver and gold will return as the medium of choice for such trade being that it is durable, fungible, scarce and quantifiable. This is the reason gold and silver have been around so long.. in good times AND in bad.

[kosai19]

Still think gold is most likely near it's top at the $1030 - $1060 range. The main reason is the dollar index. Below $76 it doesn't have much support. It's no surprise to me that Gold increased by such a value but the dollar index didn't break $76. It's a sign to me that the reversal is nearing.

[xFatiguedx]

Your one of the very few I know bullish on gold before it broke out as I

[1TheTruthChannel1]

Thanks your videos are very informative.

[UVpirate]

I need a pullback of silver at 12.50 oz. What do you think? If it does, I'm loading up.

[bjmccullough]

man you are late. no one who owns now is gonna sell for 12.50. you can t buy mine at that price.

[UVpirate]

I'm not late. I already bought 700oz at 13.51 months ago. I just want one more big pullback to buy more.

[cowboycarl04]

I do as well, but, in terms of USD, I'm not sure if that's going to happen anymore. When silver hit the $16.00 support line, I figured it would break through and go to 14. It obviously held and is now up to $17.30 and rising. It appears it will make newer highs now.... we will have to wait until it falls back around $16.50 to buy "cheaper" I think. Best of luck to all of us!

[cowboycarl04]

apmex will buy my philharmonics for around $19 an ounce. Thank goodness I live within 2 hours so I can drive and get cash from them in person.... if I could buy legally for $12.50... I'd sell my relatives's homes to pay for that much silver at that price haha

[drutter]

Long video, but good information, especially in the second half. Thanks man!

[endlessmountain]

when i make long videos, expect 97-99% of the time for there to be a TOC in the right. click on the time and it takes your right to it. This way, yuu can watch segments of interest easier. I understand 20 minutes to both points

1-Its long (i feel the same way sometimes)

2-Its long (great, I love seeing more of it. If people have 1 hour shows on TV that others love, why not.. This is 20min. Its a lot. Without commercials mine was 10 seconds shorter where TV is 21:9 or 22:8

[drutter]

Yeah I must say I like the time links in the sidebar, which you do sometimes.

[jdcremin]

CPI has decreased for the past 6 months - that's deflation.

[endlessmountain]

I trust the street numbers, not what the government says what they are supposed to be.

[jdcremin]

Money is created when people take out loans - if money into banks (repayment) or defaults surpasses loans out you have contraction - know one knows what is owed on leveraged bets by big banks - its contraction currently and the FED is trying to fight it. You say they're are succeeding and you base that on what? Prices at the grocery store? Why lie about CPI? To scare people into saving and not spending -makes no sense.

[jdcremin]

I should add - I can see one possible way to selective inflation. Foreigners are using the weak dollar to buy american assets. Condos in New York are probably rising in value. I see this as temporary.

[BackBurnerNews]

Love the vids and the info you give.

I also like viewing your sponsors ; )

As ModernMysitc would say "ClickyClicky"

lol.

[AndyMH182]

How do you go about getting foreign currencies?

[bookbinder66]

but food rice wheat , check expire dates my has no expire date just a batch number, then trade that

[endlessmountain]

Cities and large towns should have foreign currency to buy. Most major currencies accepted like USA, CAN, EURO, YEN, AUS etc. If person x was holding $20k in cash, then 10K purchase in the other cash. This is your long term money you plan on having for a 6 month emergency say. I like the diversification of this better

[theanswersofnwo3]

I bought silver at $20 am ounce for 101.9 oz. It is slowly coming back up and I hope it goes above $25

[endlessmountain]

i have bought coins between $15ish and 22ish CAN and its going much higher. 1K maybe out of whack, but 200 isn't.

[ILovelisanova]

I fast forwarded the commercial break

[bobdrake]

Interesting Breitbart article, "UN calls for new reserve currency":

"The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the "privilege" of building a huge trade deficit. "

[lindabebe835]

Bobdrake, this is a very sad day for our country indeed. USA will never be the same. Not sure how soon the country will collapse after new global reserver currency and the dollar is dumped. Thanks for the posting the comment.

[dontblamethemessenge]

In Netherlands they have silver guilder until 1966 i think.

I have some of those 720 sterling silver.

Fast calculation: increased 5 times in value.

so in fact 1 guilder is 5 guilder now (400 percent yield), not bad for just keeping it in stock.

[doc7474]

Another great video, Derek. I saw the news about oil+U.S. dollars last night and thought that would have some sort of major effect today..I'm guessing there is going to be some sort of pullback in gold.

[dontblamethemessenge]

If it is bad in Jamaica, and in Netherlands, then maybe go to the former. The weather is better, and more relaxing...

[ray12970]

Good Thinking. Thanks Derek

[detroitgreeks]

Today is a scarry day!

[iloveterriers]

Doing just fine, yeah, that's why me and the hubby are forced to move back to Canada soon because we cannot find jobs in the wonderful US of A.