Lehigh Valley Conservative

From “Miles Franklin” newsletter Friday 10/10/2008
David Schectman CEO

James Turk says:
 “The prospect of hyperinflation is now becoming a REAL possibility - trillions of dollars are being pumped and nothing is happening in the credit markets - FEAR is enveloping world markets. We now think there may be another concerted effort to engage in socialist methods of the State buying up everything, guaranteeing loans, etc. as in Iceland, UK, etc. Welcome to October 2008. We would not be surprised to see more civil unrest as people realize they have been cheated out of their lifetime savings and pensions.”

Same newsletter Jim Sinclair says:
 “Whatever is done to resolve this global financial crisis is going to inject incomprehensible amounts of new money into the global financial system.”

 “Academics see the world as a ‘Picture In Time.” That means they are static thinkers who can’t perceive motion. Visionaries like Harry, Monty, Trader Dan & Tony are “Dynamic Thinkers.” At present, some academics are promoting the dumbest line I have ever heard. They say that all this new money going into the system is not monetary inflation because it is simply replacing all the money lost and therefore is a wash. That is part of the thinking pattern I am talking about and it’s dead wrong.”

 “You can be certain that a repetition of Germany’s Weimar crisis is coming soon. There is nothing that can be done to make matters better - even if done by governments unilaterally in a unified action. In fact, such action will only serve to make matters worse.”

 “The larger the financial action, the deeper the financial fall. The G7 still thinks they run the world. That should tell you something about the degree of what they can do.”

Same newsletter Monty Guild says:
 “Merrill Lynch issued a big report today on the banking crisis.

Here are the main points:
1. Everyone is waiting for the big government solution.
2. Coordinated moves will not necessarily be effective, but it will be historic if it happens.
3. We are barely past the halfway point of the credit down cycle.
4. People will continue to crowd into treasuries Rosenberg (and in my opinion, gold).
5. Corporate profits not yet impacted will go lower.
6. Private sector interest rates are rising.”

Same newsletter Richard Russell says:
Apologies — Looking back, I’m sorry that I didn’t emphasize even more strongly that subscribers MUST get into cash and bullion. When the Dow closed decisively below 10725, I should have insisted, no demanded, that my subscribers get into cash and bullion. At the time, I had intimations of disaster, but this bear market has turned even uglier than I envisioned. Sorry.

My colleague in “Blogging” Joe Hillard writes this:
http://lvpoliblog.blogspot.com/2008/10/you-cant-fool-market.html

I ask you what is going on and can’t any of our elected official see what is happening?  Of course they can, but choose to act as “baser sorts” and do nothing but keep their own power in order.  Isn’t there something “We the people” can do?  We are “Powerless” did you older folks ever think this might happen?  I know, I know, of course voting them out is an option but that is not the answer now because this is how the voting will go.  

 Let me just tell you what I found out on Saturday (10/11/08) evening.  I’ll be brief because it is just to embarrassing and painful.  First let me say I suspected it to be true but Saturday evening I found out it was.  I was at my 50th High School re-union (Class of 1958) when Allentown High School was yet the only High school in Allentown, Pa.  I took my own survey and as it turns out O’bama got the most votes, as a matter of fact, of the first 4 people I ask O’bama got all 4 votes.  So I decided to stop and not make myself any more depressed then I was already getting.  Well there you have it folks about as an accurate a poll as you get from ABC, NBC, or CBS, and so much for voting in a correction to anything.

But let me just say this; If McCain and the Republican Party don’t want to win they should just stay the course and we can almost be assured of an O’bama Presidency.  If the out come depended on Saturday night class of 58 voting we would have had O’bama in the oval office 4-Zip with me abstaining.  Talking about being “Powerless” and financially broke and part of a global world order we just might see it and shortly.  The “Money Changers” will make it happen. http://www.themoneymasters.com/