…As 2012 began, there was still hope that the worst of the 2008/2009 downturn had been averted; that a slow but protracted recovery was underway. There is no such hope today. All central banks are printing money and easing credit; but are no longer doing so in the certainty that such actions will reverse what previous actions did not.
As 2012 ends, there is an underlying acceptance, a resignation that what is being done is being done in the abeyance of any real solution; and that although today’s actions may not be a viable answer, in the end such actions are better than no action at all.
Maybe so, maybe not…
The end game draws near.
Buy gold, buy silver, have faith.
http://www.321gold.com/editorials/schoon/schoon112212.html
As long as there is a private central bank, we can forget economic and political hope.
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