Monday, March 08, 2010

Listen to Roger

Roger Bootle writes some appalling Keynesian cock, but the key to understanding the importance of Roger is that he thinks in exactly the same way as Bank of England's own Keynesian economists; he is of the same gene pool and of the same meme pool and has no doubt shared more than one or two snifters with his central planning friends, within the 'hallowed halls' of the Bank of England.

Therefore, when Roger says that he thinks the Bank of England will soon be oiling up the electronic counterfeiting machines for another splurge of one government department buying another government department's debt with intrinsically worthless fiat confetti, then you had better believe him.

Because unless someone props up the pound price of British government debt in this way, then British government debt prices (as measured in gold) are going to collapse. And if you don't like paying explicit taxes now, then you really won't like paying increased explicit taxes later when large chunks of it will be used to do nothing more than pay off increasing interest on increasing British government debt.

So what's the way out of this for these slimy political operators? Well, it's to rob the British public implicitly again by devaluing all of the pounds that they currently hold, in whatever form, by getting Roger's chums in the BoE to play the banker in monopoly again.

And that wealth that they're stealing in this clever way to win this political gambit?

Yes, folks, that's right. It's yours. And they're stealing it by printing up hundreds of billions of copies of all of the pounds that you hold.

So buy gold, silver, and oil if the financial markets are a foreign place to you. Or any other intrinsically valuable asset, if you know what you're doing. Get stuff that's worth something that they can't copy. If it has an income stream, great, especially if it can beat the 10% per annum price rise in gold over the last decade. If it doesn't have an income stream, then make sure it's intrinsic worth goes up every year by 10% a year, as gold's has for the last decade. If in doubt, buy gold. Silver looks especially good too. And oil.

But whatever you do, get out of the British pound before it's too late and before they have robbed you down to your last pair of pants, leaving you with nothing but increasingly worthless mounds of Zimbabwe-lite cash.

Get rid of every spare pound that you hold. Remember folks, you heard it here second.

Pip pip!!

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