• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

If You Have Any Interest In Preserving Your Wealth, You Need to Use This Rally To Prepare

Phoenix Capital Research's picture



So… we’ve now got both the ECB AND the US Federal Reserve promising to do “open ended” purchases of various bonds. If this doesn’t make it clear, point blank that the Central Banks don’t have a CLUE how to solve the Financial Crisis this is it.

Forget math, forget fancy economic terms. Let’s just look at this situation using common sense. The ECB, combined with the IMF, couldn’t fix GREECE. They’ve been trying for over two years and they’ve failed miserably (Greece now needs a third bailout).


And somehow they’re going to solve Spain and Italy… economies that are THREE times the size of Greece’s?




What about the US Fed? It owns all but $650 billion worth of Treasuries on the long-end of the curve. It’s ballooned its balance sheet to nearly $3 trillion in size. And it’s managed to create an environment in which the economy is total and complete crap at the same time that the cost of living has soared (sorry Bailout Ben, inflation is NOT Transitory for those of us on planet earth).


Is anyone else getting sick of this stuff? Isn’t about time someone stood up to these clowns and asked them to their face “you really don’t have a clue what do to, do you?”


But no, we live in a world of half measures and untruths. No one wants the truth because it means that we’d all have to admit that at least 30% of the “growth” we’ve experienced in the last 30 years was illusory in nature. No one wants to admit the big lie, that the big banks are all insolvent and that the Central Banks are screwing the middle class to prop up those who made moronic decisions out of unadulterated greed.


It makes me sick to my stomach. These people have ruined the capital markets, enslaved generations to come with mountains of debt, all just to benefit those who, if we did indeed live in a capitalist society where failure occurs based on bad decisions, would be bankrupt.


But in the end, no matter what gimmicks or market props these guys put into place, some day this whole mess will come crashing down. They’ve managed to put it off for a few years since 2008, but the day when we face systemic failure is not that far off anymore.


The reason? You cannot solve a debt problem with more debt! You cannot move toxic debt from one balance sheet to another and claim it’s gone away! A child could tell you this, but somehow 99% of the investment community won’t admit it.


The reality is that we’re now facing a Crisis that will make 2008 look like a picnic. That Crisis will come when sovereign nations begin defaulting. The most likely candidate is Spain who refuses to ask for a bailout because it doesn’t want anyone looking too closely at its books because the entire Spanish baking system is insolvent beyond belief.


Wealthy Spaniards know this, which is why they’re fleeing the country in droves. The ECB cannot solve this problem. The whole OMT proposition is a lie. Ditto for QE and whatever else the Fed comes up with: it’s just polishing the brass on the Titanic.


So, if you have any interest in preserving what you’ve worked hard to create, you need to use this time of euphoria to prepare for what’s coming. We all know it’s coming. It’s just a matter of when.


If you’ve yet to take steps to prepare for this, I can show you how: my Surviving a Crisis Four Times Worse Than 2008 report is chock full of information on how to not only survive but thrive during the months to come.


Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).


Best of all, this report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.


Good Investing!


Graham Summers


PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s my proprietary Crash Indicator which has caught every crash in the last 25 years, or how to stockpile food (where to get it, what to buy, and how to store it) our reports cover this information in great detail.


And ALL of this is available for FREE under the OUR FREE REPORTS tab at: http://www.gainspainscapital.com





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Thu, 09/13/2012 - 14:29 | 2791099 President Palin
President Palin's picture

Hey Graham,

I thought you said, "No QE"?

The only thing I am getting sick of is your posts.  Can't believe I wasted money on your newsletter.


Thu, 09/13/2012 - 14:21 | 2791040 cdude
cdude's picture

This not about fixing the economy. It is an incremental transfer of the sins and greed of the elites to the people. The .01 % reaped the rewards from their greedy and predatory ways but the downside of those actions (losses) are being transferred onto the back of the people. Win-they win. Lose-we lose.  

Thu, 09/13/2012 - 14:02 | 2790890 odatruf
odatruf's picture

I wish ZH would stop top paging marketing copy for people who have demonstrated they can't hit the broad side of a barn with a forecast.


Thu, 09/13/2012 - 14:12 | 2790986 carambar
carambar's picture

well, that would mean commiting sucide for ZH.

If you listen to ZH you would have miss a huge rally.

everyone prediction is right at some point in the longterm.

ZH timing is completly off.


Thu, 09/13/2012 - 13:53 | 2790820 dumpster
dumpster's picture

graham summerss the grand 250 please letter writer

and will not reuturn even a cent for providing nothing but blather

and broken record no QE .. as even QE never stopped

fade to stupid



Thu, 09/13/2012 - 13:48 | 2790775 pupton
pupton's picture

I don't need nine pages, and you don't have to subscribe to anything.  Here's my "report":  BUY PHYSICAL SIVLER BITCHEZ!!!

Thu, 09/13/2012 - 14:18 | 2791025 SmallerGovNow2
SmallerGovNow2's picture

Too late to buy, should have BTFD at 27...

Thu, 09/13/2012 - 13:46 | 2790767 mind_imminst
mind_imminst's picture

"It makes me sick to my stomach."


Probably because he (Graham) has been proclaiming for months (years really), the the FED's hands were tied, that the ECB was impotent, that Germany would not approve monetization of debt, etc., etc., etc., etc., etc., etc., ad inifnitum.


He is right to be angry (not because he has huge egg on his face, but because the FED and CB's are ruining whole economies and lives of common people around the world.

Thu, 09/13/2012 - 13:44 | 2790749 El
El's picture

PC's mistake was in believing that there was any thread of rationality or sanity left with these people. After all, what rational, sane person would implement this new policy?

Sorry, PC...you lost any credibility, but I do understand a desire to think rationally in this irrational world. Sadly, it's going to be even worse than we thought. Time to invest in that underground bunker. Those tin foil hat wearers aren't so crazy after all.

Thu, 09/13/2012 - 13:43 | 2790745 vmromk
vmromk's picture



Weren't you the broken record that kept assuring everyone that the FED could not unleash QE3 ?

What about the high gas, food and precious metals prices ?

Hey Graham, perhaps a new career as a janitor would be more fitting.

Thu, 09/13/2012 - 13:36 | 2790702 q99x2
q99x2's picture

You've been telling us for 4 years to miss out on making money. Good luck in whatever you choose to make a living at. You're gonna need it.

Thu, 09/13/2012 - 13:46 | 2790728 akak
akak's picture

If you had purchased gold and silver four (or more) years ago, and just sat on it (instead of trying to constantly trade in and out of it like some crack-addicted ADD monkey, or Jim Cramer --- but I repeat myself), you would have made money, and handsomely.

Or are you too obtuse to grasp that obvious point?

Thu, 09/13/2012 - 13:46 | 2790768 Kitler
Kitler's picture

Methinks he is too obtuse to understand the meaning of the word obtuse.

Thu, 09/13/2012 - 14:12 | 2790957 LouisDega
LouisDega's picture

Obtuse.. Andy Dufresne pisses off warden Norton Bitchezz

Thu, 09/13/2012 - 13:33 | 2790690 Arnold Ziffel
Arnold Ziffel's picture

My GLD and SLV have done nicely and more then covered my substantial loss on my house price (which is still sinking). I also hold USO (oil) which is doing very nicely also.

Anyone calculate how much this QE will expand the Fed's balance sheet? What if the ECB follows with it's own massive printing?


Think about it.

Thu, 09/13/2012 - 13:46 | 2790759 falak pema
falak pema's picture

it will bring the price of oil to 150. And then to 50. Roller coasters are fun! Like in 2008....2013??

Thu, 09/13/2012 - 13:31 | 2790674 mrktwtch2
mrktwtch2's picture

yet another losing post from grahm crackers..lol

Thu, 09/13/2012 - 13:23 | 2790602 New American Re...
New American Revolution's picture

Isn't this the guy that is short up the yin yang that said the FED would do nothing? He and his followers have got to be getting killed. I don't see as though he's even mentioning his GROSS ERROR....

It's like it never happened. This guy should be in politics, not the markets.

Thu, 09/13/2012 - 13:41 | 2790730 DavidC
DavidC's picture

There are better people than you and me who have been amazed at the lengths that the Central Banks have gone to, to keep 'the system' going. I've read on various blogs over the last four years of people who have traded the markets for 20 years or more who have now given up because the idea of a free market is gone. Are they right? I err on their side but I could be wrong.

I don't recall Summers saying that the Fed would do nothing, he ceratinly has said that what they're doing is insanity (which, I think, many people would agree with).

There were people in the run up to 2008 who were warning and being regarded as cranks. I'd rather be wrong in the short to medium term than wrong in the long term.


Thu, 09/13/2012 - 13:55 | 2790826 DogSlime
DogSlime's picture

Indeed, but what would you say about someone who was going to tell (sell)  you the "secret" of buying gold at £350 per ounce?

Here's an example from Graham's post last year:


Thu, 09/13/2012 - 14:12 | 2790977 DavidC
DavidC's picture

I couldn't see any reference to Gold at $350 in that link.

I've been long Gold since $330 and Silver since $9 so I'm not complaining on that score (a friend of mine went long three days after Gordon Brown sold around half of Britain's gold reserves - he's still long!).


Thu, 09/13/2012 - 17:51 | 2792230 DogSlime
DogSlime's picture

Look at the end of the article - I quote directly:


These other two reports How to Buy Gold at $350 and The Inflationary Armageddon are also available at the OUR FREE REPORTS tab on http://www.gainspainscapital.com.

Thu, 09/13/2012 - 13:17 | 2790554 Appleseed
Appleseed's picture

HA, did anyone see where they say sorry about the whole "NO QE3 thing"? I didnt. Come on guys if you want anyone to believe your shit you gotta own up on your mistakes. SOO many ppl tried telling you the the CB's will print again since they dont know how to fix the problems. You just disregarded the comments, just like how we are disregarding your 'reports'. Best of luck. And to all the stackers out there who know whats going on, cheers mates, you made alot of money today and will in the future.

Thu, 09/13/2012 - 13:24 | 2790546 falak pema
falak pema's picture

hahaha, summers, fall and winter chimes.  We will fill up on Summer time...when the living is easy...

robotrader is making a killing in 2012 by doing the exact opposite of what GS and ZH has said; aka investing in stocks!

Get off the train in november...is my bet.

Thu, 09/13/2012 - 13:10 | 2790490 Beanie Baby Bubble
Beanie Baby Bubble's picture

yeah how about you man up to your no QE insistence?

Thu, 09/13/2012 - 14:08 | 2790956 Imminent Crucible
Imminent Crucible's picture

Oh, this isn't the same Graham Summers who has insisted over and over that there will be NO NEW QE from the Fed. You must be thinking of some other Graham Summers, at some other Phoenix Capital Mismanagement.

Thu, 09/13/2012 - 14:23 | 2791049 phalfa5
phalfa5's picture

rising from the asses/ashes, like a phoenix

Thu, 09/13/2012 - 13:05 | 2790446 dingoj
dingoj's picture

Thought there would be no QE, bitchezz?

Thu, 09/13/2012 - 13:33 | 2790691 DogSlime
DogSlime's picture

He said NO QE many times, then asks people to subscribe to his newsletter that will tell everyone PRECISELY how this crisis will pan out, and how to benefit from it - even has the arrogance to make the same claim in this very article.

What bullshit.



Thu, 09/13/2012 - 14:31 | 2791112 SelfGov
SelfGov's picture

I think this is that Coordinated Money Printing that Chris Martenson has been predicting...


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