The Opening of the Sixth Seal

"...hide us from the face of He who sitteth on the throne, and from the Wrath of the Lamb; for the great day of His wrath is come, and who shall be able to stand"? Revelation 6:16,7.

And the hits just keep on coming. A month ago Alan Abelson in Barron's reported the government has just "revised" its April consumer credit card numbers from an increase of $954.8 to a decrease of $15.4 billion! I'd add a lot more exclamation points but however many I typed in wouldn't be enough to convey how eyebrow raising, jaw dropping, breath stealing, coronary causing this "revision" is. The original number was corrected by 1,605%. How can anyone, even a government employee, with an IQ greater than a hat size be that far off? The good news, I suppose, is the latest number is probably off as well and possibly is better than reported. Keep a good thought.

Okay, next item of despair is that Janet Yellen has been nominated to be vice-chair of the Fed. Old Janet (OJ) has never met a dollar she didn't want to print and have spent. In the hearing to confirm her she said: "The Fed achieved price stability for a generation."

I thought a generation was 20 years but looked it up and Webster defines it as "the average length of time between the birth of parents and that of their offspring". These days that's probably closer to 30 years.

According to the National Automobile Dealers Association the average new car in 1980 was $7,250 and is now $28,400. More mundanely according to peoplehistory.com in 1980 1/2 gallon of milk was .85 and I see it's now $2.01. Then there's the price of housing, health care, insurance, gasoline, and on and on. OJ thinks that's price stability.

Then there is the Biblical size of our debt (the Sixth Seal Is opened). We have a national debt of $14 trillion and unfunded liabilities of $40 trillion. These demands are and will forever be impossible to meet. The US has to default. There are two ways it can do this. The first is to simply say we ain't paying, i.e., renege. No way. The second is to inflate wildly which is where OJ comes in. Between her and Uncle Ben (UB) the galaxy will be the limit, if that, when it comes to money creation out of thin air. We are in BIG TROUBLE.

Since my last imparting gold has dropped about $46. Current price $1181. Not to worry. The period between June 1 and August 31 has been erratic throughout the bull run in gold from 2002 to the present. Some years up, some down, some about even.

The period between September 1 and December 31 however is a different story. The average gain has been 13.4% with the biggest being 25%, in 2007, and the smallest 1.4% in 2006. The period between January 1, 2006 and May 31, 2006 saw gold rise from $513 to $625, 0r 22%, so the last seven months of that year were merely a period of rest and recovery.

We are being run and ruined by people who are at best ignorant and irresponsible and at worst actually trying to create a crisis "that is too good to waste", as Rahm Emanuel said two years ago, so they can claim the federal government must take over everything in order to save the country.

The 12th Rule of Life is: Don't rush to attribute to malice that which can be explained by stupidity. I am trying.

WAD