Friday, December 2, 2011

Does Your Backyard Look Tidy?

In New Zealand, we cherish our little plots of land with our modest houses that we can buy freehold. We like to own land for our security in retirement. We enjoy a tidy backyard, for aesthetic value as well as for practical purposes. Growing food in vegetable gardens and fruit trees.

We kinda look sideways at messy backyards. They make the neighbourhood look untidy.

Using this metaphor to describe how we should be reacting to this current financial crisis is apt. Have we got our financial backyard in order? Because the signs of destruction are creeping upon us, perhaps ready to pounce.

Here are some disturbing statements.

Nicolas Sarkovsy calls for a 'new economic age' where debt and public spending are reduced, claiming that 'those that lend to us no longer want to lend to us'. Is the real message here that Eurpoe is in such a predicament that no plan now will work. A reset is the only option. remember, politicians are good at hidden meanings in positve statements. Also, Germany is encouraged to 'use its power'.

The Governor of the Bank of England has released a dire warning today. Mervyn King: the eurozone crisis is 'systemic, he says, and urges banks to brace themselves for a potential eurozone collapse amid fears that Britain is caught in a second credit crunch.

Another negative warning here from Olli Rehn, The Economic and Monetary Affairs Commissioner of Europe: He warns that Europe faces a crucial 10 days to save the eurozone and halt the two-year sovereign debt crisis.

Furthermore, the concerted effort by central banks this week to increase liquidity for banks means one thing. There is no money to keep the game going. Economies simply will not grow at the rates required to pay the debt mountain back. Resources are scarce an money growth is exponential. That is a function of charging interest on money, it's just a mathematical fact. The system must reset.

Whether it's ten days or ten months, who knows, but the statements and actions coming out from major leaders of the developed world point to sooner, real 'sooner', than later.

So it may be time to ensure your backyard is tidy and in order, ready for the coming reset. It's time to make sure yourself, your family and friends are prepared.

Gold in New Zealand dollars: $2243.16 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $42.14 per oz
Previous all-time high: $59.19
per oz (30 Apr, 2011)

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