[Money-matters] FW: [Money Matters Newsletter] Dow Cracks under 10, 000. Hungary warns of Greece like default! Update June 4, 2010

Sat Jun 5 01:11:46 UTC 2010

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From: Money Management Radio [mailto:marc at moneymanagementradio.com] 
Sent: Friday, June 04, 2010 6:05 PM
users
Subject: [Money Matters Newsletter] Dow Cracks under 10,000. Hungary warns
of Greece like default! Update June 4, 2010

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Money Matters Newsletter: Dow Cracks under 10,000. Hungary warns of Greece
like default! Update June 4, 2010

Marc's Notes:

Hungry anyone?  

Actually the PIIGS were!  PIIGS meaning Portugal, Italy, Ireland, Greece and
Spain. These 5 are called PIIGS as they are the EURO currency countries that
are in bad shape debt wise (beside US) and Greece was the most visible. 

Well, don't look now but the debt "disease" is spreading like I told you it
would. This morning HUNGARY came out and said it might default. Wow, they
weren't even on the list!  Just goes to show there is never just one
cockroach. The debt disease started with homeowners, then to companies, then
to our banking system and now is in entire countries! This HUNGRAY news
pounded the EURO again under 120 per US DOLLAR and aren't you glad I told
you to get OUT OF THE EURO last year.
You can expect an even more aggressive money printing plan by the European
Central planners, violating their own rules by bailing out countries, as the
EURO contagion makes its way into other hosts.

This is a microcosm of paper currencies gone bad, as the governments of the
world have printed so much money, and the banks have grown so large with it,
the whole system is regurgitating this violation of natures money system, a
system of honest weights and measures, thrown asunder by Federal Reserve
Banks of the world and spend happy politicians, goaded on by do-gooders,
would be "world improvers", socialists and the so called "compassionate
ones". These economically challenged individuals think spending government
money to "help" people improve things. In reality, government spending
causes MORE people to go into poverty as the money the government spends is:

1) stolen from those that produce
2) given to those that don't 
3) incentivizes people who work to not work as hard as their fruits are
stolen though taxation
4) incentivizes people NOT to work as they get paid for not working
5) causes inflation which drives the poor poorer, and causes subsequent
classes to drop down another level
6) increases the size of government (who produce nothing) 
7) increases the cost to the rest of us as the governments workers require
salaries and benefits
8) increases taxes which increases costs to business so they employ less
workers and raise the selling prices of their goods
9) keeps these spending politicians in office as the poor constituency vote
for them as they spend money on these same poor folks

Likewise minimum wages actually cause more unemployment as the "going" wage
paid for by private business is circumvented by the "enforced" minimum wage,
therefore driving the cost to produce higher then the market price of the
good sold would dictate. This causes higher costs in relation to profit
which causes business to sell less, produce less and subsequently fire
workers. This also results in less tax revenue which exasperates the problem
even more.

The seduction of trying to "help" actually HURTS the very same people these
do-gooders try to help. One of the main reasons for this lack of foresight
by our politicians is because most of these guys and gals never had to run a
business. They are career politicians, retired homemakers, lawyers or school
administrators. Just look at Obama. He was a student turned activist turned
politician. Ben Bernanke was a teacher. Pelosi, a grandmother, Feinstein the
wife of a millionaire. The list goes on. If a private business was run like
the governments of the world, they would be broke, AS THEY SHOULD BE.

The markets are testing 10,000 DOW and with every retest it gets closer to a
breakdown. 
Today brought the crackdown and it closed in the 9,950 DOW range. The
question is what will happen Monday. If it can't rise back above 10,000 DOW
then the 9000's come into play and 10,000 becomes the new resistance. Monday
will be the key and I suspect the FEDS will be in there Sunday night trying
to goose the futures market. 

I laugh when I read these guys saying a recovery will drive the market
higher in the next year or so. The ONLY reason we have any positive numbers
at all is 5 or 6 trillion worth of government spending. Money given to the
banks was used by the banks to gamble up the stock market. Now insiders are
selling stock like crazy and this bodes for more down drafts in the days and
weeks to come. Bonds are tanking again as banks are now becoming even more
hesitant to lend to each other and here we go again. 

Back on the farm, gold is holding remarkable well in spite of all this,
silver not so well. The reason for that is easy. Silver is regarded somewhat
as an industrial metal and gold is a chaos hedge. Silver will go down with
market for a while but will eventually catch back up to its normal ratio
with gold as people flee to silver as the poor mans gold.  In keeping with
my mantra that all stocks go down or up together regardless of the
underlying asset, gold stocks were soft even though gold was up. This is why
I have you hold physical gold instead of just gold stocks. 

The US dollar is strengthening again as it is STILL (incredibly) the
perceived asset of safety, but that will change eventually and when THAT
happens, that will really be the flame that starts the final fire of
volatility. Pray that day never comes but I know it will. The US is just
about the worst debtor in the world, worse then GREECE on most levels, so
that's pretty much a done deal.

For now, expect more headlines on these mysterious "created" jobs that seem
nowhere to be found. Most of the new jobs in the last report were census
jobs. Obama spun this today as positive but Wall Street knew better. Even
NBC tonight noticed the jobs report and the census being a big part of it.
GOOD GOING NBC!  Someone in their news room has a brain!
The government now is responsible for about one third of all spending in the
US.
ONE THIRD!  
Does anyone see the flaw in this? Since the governments sell nothing, it
must either take the money from you or print it. If they print it, it takes
the money from you anyway through inflation so basically they spend your
money, but are much less efficient at spending it, therefore most of it goes
wasted. Wasted at a time when we need it the most. Those of you that believe
we needed this government stimulus to rescue the economy, you are about to
learn a hard lesson. It doesn't work, it won't work, and you will see that
soon. The FEDS will probably think they didn't spend enough and try even
more spending. They will never learn. Expect more "ANNOUNCEMENTS" about new
spending, new stimulus plans, and more bailouts being required.  The US
meanwhile swapped US dollars for EUROS last week or 2 back to give the Euro
bank good dollars in exchange for the crappy Euro. Now guess what! Since the
EURO has crashed even more and we now hold a ton of them, we LOST MONEY. Our
Central bank traded our good US DOLLAR for this falling currency and in a
time when we need all the money we can get! Shame on Ben Bernanke for using
our money to bailout EUROPE. What about us Americans!

You will now see reality in the jobs market and the spin about this recovery
beginning to be questioned soon. The sad part is that investors believed
these guys in the first place and now are being set up for more losses.

Hold to our core portfolio plan, keep most your money safe and in foreign
currencies and gold. Use your stops to protect your assets and keep alert.
This thing is probably about to get ugly. RED ALERT remains for the market.

The US COMPTROLLER interview show is FREE on the website under FREE SHOW for
about 2 more weeks. Then we will remove it and replace it with SHOULD YOU
STOP PAYING YOUR HOME MORTGAGE. Download the US COMPTROLLER interview why
you still can. It is the head accountant of the US GOVERNMENT telling us
like it is. He mirrors this newsletters predictions by the way.

Consults are available. They are in person and take about 3.5 hours. Email
us if interested.

All for now,
Marc

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