Silver Update: Kavakoli ~ Expect Thousands Of Felony Indictments!

Earlier in February, President Barack Obama came to the podium to announce

Congressional deadbeats meet to discuss the economic bailout plan in the Capitol in Washington September 25, 2008. (L-R) Senator Jack Reed (D-RI), House Financial Services Committee Chairman Barney Frank (D-MA), Senate Banking Committee Chairman Chris Dodd (D-CT) and Senator Chuck Schumer (D-NY).

that “The economy is growing stronger…the recovery is speeding up. We’ve got to do everything in our power to keep it going.” Yesterday we profiled the recent jobless rate in a blog titled Election Year Employment Deception—a clear and present sign that administration has touted a false increase in employment—and thus, a false picture of an improving economy. Combine this with the proclamation from every official source that we are in a recovery, and not a depression, as described by WealthCycles here, using both Kondratiev long wave and confirmed below, using simple current fact.

There is no better term than depression when accurately describing the plummeting employment and the economic contraction in developed economies. Bloomberg:

“With economies cooling across the region and export orders weakening, companies have been forced to lower costs to help protect earnings.
Employers around the globe are cutting jobs more than three times faster than in 2011.”

German factory orders recently suffered their worst three months outside of the 2008 crash itself, falling at a 28% annualized rate. European December Industrial Output declined by 1.1% led by Germany’s 2.7% drop, compared to November’s 0.3% decline.

Another measure of economic expansion or contraction is global shipping. So far this year the Baltic Dry Index has fallen 42% more than its seasonal normal.Below is the current data:


History is replete with the carcasses of failed currencies destroyed through misguided intentional debasement by governments looking for an easy escape from piling up too much debt. James Rickards, author of the recent bestseller Currency Wars: The Making of the Next Global Crisis, sees history repeating itself today – and warns we are in the escalating stage of a global currency war of the grandest scale. Whether it ends in hyperinflation, in the return to some form of gold standard, or in chaos – history is telling us we can have confidence it will end painfully