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Why Wall Street Can’t See It

February 24, 2010 by  

Why Wall Street Can’t See It

Youth is everywhere. The Barack Obama administration is packed with young academics. Big corporations enlist young people the way an army conducts a draft. Yet the greatest danger to your pocketbook and overall prosperity is the youth that invests America’s money.

According to Money Magazine, the average age of a stock fund manager is a tad over 30. Now that I am in my 50s that makes me more than a little alarmed. I remember when I was young; when I was a dumb college kid.          

Years ago disaster stalked me. At the time I was in my 20s, unaware of calamity until it was sprung upon me.

My dad and I motored towards the extreme end of Idaho’s Lake Coeur d’Alene.

After several arm-aching pulls on the starter cord we had the trolling engine sputtering along. We traced the outlines of the pristine bays and points along the southern shores.

It was a lazy afternoon; the calm before the storm. Over the rhythmic cough and choke of the outboard, from a distance of at least half a mile, I heard a squirrel skipping through the turquoise pines. How strange, I thought. I glanced towards shore and noticed an absolute deadness to the lake—a motionless mass of water stretching out like a giant sheet of stainless steel.

Above the tree-line I saw a monster: colossal cumulus black clouds—swirling and spinning—compressed upon the forest hills. Within this charcoal mass was a tiny grey vortex, tipped to its side, spinning downward, as if to reach out and pull us in.

Now my father was the calmest man I’ve ever known. In fact I had never seen him excited by Mother Nature, an amazing accomplishment for a man who spent most of his life on the brutal Canadian prairies. But this day was different.

As I pointed my finger towards the horizon the old man jumped to his feet and shoved a cigarette in his mouth.

I should have been on notice. The old man never swore and he never, ever panicked. But he was cursing like a sailor and tossing gear about as though we had just been called to general quarters. Before I could manage to reel in the second line, our cabin-cruiser was up and running.

“Our best out is to outrun this,” yelled the old man above the roar of the V-8.

Moments later the rain and wind pounced on the cove we had just evacuated.

After another 20 minutes the storm was closing fast. Across the lake stretched a line. It was surreal—on one side tranquility; on the other, chaos.

Dad yelled, “Get the lifejackets!”

Now that concerned me. The old man wasn’t a life jacket kind of guy. He had never so much as worn a seatbelt.

As I jumped below deck I remembered that I had forgotten to transfer the life jackets into the new boat (remember… dumb college kid).

As I stumbled up to tell the old man about the jackets the storm had closed to within a hundred yards of us. I was shocked by its enormity. The waves were huge. Only half home and we were about to be engulfed by a typhoon.

“Where are the jackets?”

I had to say something, so I lied. “I can’t find them.”

I will never forget the look on his face. It was a combination of rage and terror. For a moment, I didn’t know what to fear more—the old man or the storm.

“You idiot,” he screamed. “You can’t find them because you didn’t pack’em!”
 
By this time the storm had closed to within yards of us. For a few seconds it engulfed only our stern, turning the boat into a gigantic surfboard. Then it grabbed us whole.

All hell broke loose. A tremendous wave crashed over our starboard. Inside the cabin, dishes and groceries flew across the galley. We began taking on water.

Dad switched on the sump-pump, but the up-swell was beyond its capacity. The lake opened up into a giant trough.

I couldn’t help but notice that the boat was lower. Inside the cabin there was water.

Then it hit me: we had no life raft, no life jackets, not even a two-way radio. We were trapped in this damn boat. If it sank, so would we! We were 20 minutes from the marina. I didn’t know if we could make it, and there wasn’t a thing I could do about any of it.

Then, through the grace of God, the storm began to dissipate. By the skin of our teeth we reached the marina.

Others weren’t so lucky. We saw a 21-foot ski boat sink just outside the marina. Later an old timer told us that it was the worst storm he had seen in 60 years.

Two things still stick in my mind: The utter calm before the storm, and my idiotic complacency, even after its approach.

My fear is we face another financial storm, this one from a tsunami of dollars that have been created by the Federal Reserve and the Treasury Department.

Yet that has created a perfect storm for rampant inflation.

Over the past year the Obama administration and Wall Street have been urging banks to increase lending. However the banks have not yet lent out much of the new reserves that the Fed has created. Rather they have left these reserves on deposit.

That means that the velocity of all this new money (how fast it changes hands) has been slow. But that will change as soon as the banks begin lending in earnest which will likely happen this year.

It is little wonder, then, that Reuters reported last week that, “the ultra-rich are increasingly buying copper, nickel and other physical commodities to shield themselves from paper-money inflation.”

According to Ronald Wildmann, who manages three Basinvest funds from Zurich: "As a wealthy person, the worst that can happen to you is not that your relationship manager gives you bad advice. What is much more worrisome is when you wake up in the morning and you look out the window and paper money is worthless."

Wildmann is in his late 40s and is one of the few money managers that even sees the potential for an inflationary storm. The majority of fund mangers are a generation younger and so busy fishing for profits that they haven’t even looked towards the horizon.

But a financial squall is approaching just as surely as that lake storm struck my dad and me three decades ago. When it does, Big Board stocks and blue chip bonds will collapse. At the same time fortunes will be made in hard assets, especially gold and silver.

Action to take: I urge you to divest out of paper in all but the most special situations and buy shares in either blue chip gold and energy companies or physical precious metals.

Yours for real wealth and good health,

John Myers
Myers’ Energy and Gold Report

John Myers

is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington.

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  • Paul Keller

    Peggy Noonan of the Wall Street Journal wrote a great article about this. Noonan said in the WSJ on Sept. 3, 2009:

    “A greater concern about President Obama’s staffers and appointees is that so many of them are so young and relatively untried. And not only young and untried, but triumphant. They’re on top of the world.”

    You can read the entire story at: http://online.wsj.com/article/SB10001424052970204731804574391153099885242.html.

    • Jana

      The sad part about it is when someone young gets in control they think that they should get rid of all of the experienced people as they can get the ‘new guys’ much cheaper. Instead, they also get rid of wisdom that comes with experience, and common sense, which ends up costing more in the long run.

  • Bud Fox (Buddy Boy)

    Last month 97% of all stock mutual funds are down from where they stood at the beginning of 2008. If you are surprised by this not-so- trivial piece of trivia, you shouldn’t be. Very few mutual fund managers actually manage their funds in a way that could produce meaningful outperformance. So if it’s outperformance you want, you’ll probably have to do it yourself.

    According to Morningstar, the average stock fund rose 35% last year… But that wasn’t nearly enough to overcome the 41% loss the year before. Only six funds achieved double-digit returns across the two-year span. And only two – two! – US equity funds have produced an annualized return greater than 10% during the last three years.

    This from the Daily Reckoning: “Mutual funds are full of bad habits, like a boy who can’t stop picking his nose or burping at the dinner table. If you had to design a poor investor, you would need look no further than the typical mutual fund. For example, the typical mutual fund turns over its entire portfolio at least once per year and owns 160 stocks. These are two things that often lead to mediocrity: too much trading and too many stocks.”

  • Gordon Gekko (Greed is Good_

    According to Mark Hulbert, consumers are a great contrarian indicator. They feel the best at the end of economic expansions, just when they should be becoming more cautious. And they feel their worst at the depth of recessions.

    In fact the low point for consumer sentiment in late 1982 and early 1983, for example, came right at the end of the steep 1981-1982 recession. That set the stage for the greatest bull market ever.

    It’s also worth noting that, at least in the past, the stock market typically turns up well before consumer confidence has bottomed.

    Consumer confidence may be down, but that just means it is time to buy with both hands.

    • Bankrupted by GM

      Where were you Gordon when I still owned my GM stock that was worth at least something? It seems that America is a house of cards. We don’t make things anymore. We just borrow and spend. The biggest invention in the past half decade is Twitter. I checked… Twitter isn’t hiring.

    • DaveH

      Yeah, buy with both hands only if you don’t understand that inflation ravages the stock market.
      Theoretically, companies can raise their prices and keep up with inflation. In practice that is not so easy. As they raise their prices there is an initial reluctance by the consumer to pay the higher prices. Also, the Federal Reserve tends to raise interest rates to fight Inflation which makes it more difficult for people to purchase items on borrowed money (that includes stocks).
      Also, the buying power of the consumers who actually earned their cash savings diminishes rapidly which drains the savers of their will to work hard, thus fewer goods produced.
      The best thing to do with your surplus cash money is to buy hard assets that will keep their relative buying power (gold, silver, guns, etc.). If you have to buy stocks think about Precious Metals Funds or Natural Resource Funds which should retain most of their buying power as Inflation rises.

      If the thought of Inflation doesn’t scare you, then read this article and get scared!
      http://en.wikipedia.org/wiki/Hyperinflation

  • SiliconDoc

    ” For example, the typical mutual fund turns over its entire portfolio at least once per year and owns 160 stocks. ”
    Once you work in investment, or get check your full investment reports, you see why. Every time a trade is made a certain small percentage is charged as a fee. Yes even in mutual funds.
    The more those massive amounts of lines *fee trade/ .0000245 x are there, the more the managers and pros make.
    The average joe won’t ever see the math tool that calculates that take percentage that dictates how many trades are made each quarterly report so as to earn in up or down markets.
    I’m certain 30 year olds think that’s cool.

  • home boy

    john, if you thonk gold and silver are the answer you need to read ezekiel 7:19 in the bible. this system is going down and no man will stop it . the fun is over . you can run but you can’t hide. there is about to be a new government and it’s not ruled by man. but hey what do i know . i’m only an unemployed home builder. never played the stock market and i think bank are the biggest crooks. why else do we have the fed which by the way was started by the big banks way back when.

  • JerryDiltz

    I am a disabled veteran with no savings account. A poor person, mind you, without a financial education. I buy a measly 10 oz bar of silver monthly from my disability check because I have no faith in the government which is what backs the value of a paper dollar. Am I being foolish ?

    • MW

      No! Mr. Meyers is right on the money! No pun intended. Keep buying that silver every month, Jerry. At least you will have something when all this paper (Fed Notes, stock certificates, etc.) beomes totally worthless.

    • DaveH

      Smart move Jerry.

    • John Myers

      Dear Jerry,

      Not foolish at all. I think that silver has underperformed gold only because of some still lingering fears of deflation. When those disappear, silver will actually outperform gold. And it is not like you are losing anything by not putting money in a savings an account. Bank fees are almost as high as the rate of return the banks are giving, or should I say not giving.

      Thanks for reading,

      John Myers

    • home boy

      that’s right jerry, you keep buying gold and silverand see where it gets you when all collapses. food and water is where you need to put you money. this economy and government is imploding right now before your eyes. everyone says buy metals ,well the emplosion will be so bad that millions will die. thats what the bible says. read matthew 24;21-22 and luke 21;11,12,25,26 . this should give you an idea of what’s to come. don’t listen to man. look what man has done to the world . you want the truth read the bible.

    • Bon, from the Land of Babble

      Jerry writes:

      “…A poor person, mind you, without a financial education. I buy a measly 10 oz bar of silver monthly from my disability check because I have no faith in the government which is what backs the value of a paper dollar…”

      You are correct not to trust a fiat monetary system backed by nothing.

      When the economy collapses, the banks close and US paper money is utterly worthless, you’ll be glad you have your cache of silver. By then, you’ll need any silver coins, bars or gold to barter with as this will be the only acceptable currency.

      You must also prepare yourself for the coming riots and stock up on items such as food, potable water, toilet paper, a camping stove and ammunition (increasingly difficult to find in S. California where I live).

      Here is an excellent article, ‘Prepare for the Coming Riots’:

      http://tinyurl.com/cdxcbp

      The greatest danger will come from armed, roving gangs seeking liquor and women.

      Bon

  • http://gmail Lone Rider

    What did people think was going to happen. Go to any business or college, wheather turning out engineers or money managers, they all just go to school constantly from age 3. Go to a bank and talk to some of the loan officers and business planners, they can play with numbers and make beatiful plans but don’t know shit when it comes to explaining the number, and how they arrived at them. Most bragg that the have two majors from college and understand what is happening Of course just cann’t figure out why people don’t have big retirement plans and funds. Of course the indiots have lived with mama and daddy while going to school and never have held a job after school or durning the summer. Most of the professors are just theorists, the movie “Back to College” is a good example of the over paid eleit professors. I know last year I worked with three college grads with law, engineering and business and financial degrees, masters even. I got kicked back to side when the business okan was being set up, but they didn’t know where to get hard numbers or have a clue what the hell was going on. Orginal plan was equal shares until it was about done, then I’s just be a hired hand, guess what they haven’t built or did squat. Theories don’t build and think but a fat ass sitting dreaming. All thank to our schools and bone-heads like the Bamster.

  • gates

    The message is clear on a lot of levels. One level is “stay out of cities, know who your neighbors are.”

  • http://comcast.com David Jones

    As for toyota,one of the best selling cars on the road. The gov. wants you to quit buying Toyota and start buying GM & Chrysler products owned by China through stymulus money. Wake up America.Toyota has factories and employs thousands of people here in the U.S.annd so far is not owned by China.

  • Merl Elton

    Yes there is real danger in letting the young rule the financial world. Most of us remember when we were young, bold, invincible and thought we had all of the anwers; yet when we look back, we are shocked to realize how little we knew; how unaware of the dangers; and glad we somehow managed to save ourselves from ourselves. Also, many older people in the financial world are careless with other people’s money; and they have the power to use it as they will; and have learned to cover up their transgressions. The answer then is effectively regulating the financial services sector. Getting politics out of the financial services section is also necessary.

  • Merl Elton

    Lone Rider has a brilliant idea and is right on when he said that theorists should have to run their own business and make payroll; and until then; they could not understand how to run profitable businesses; and manage that profit to keep their investments growing and their company alive. Theory does not teach that. I think the colleges are run to make money; rather than to educate; and the colleges are highly politicized and mostly run by elite liberal progressives from wealthy families that couldn’t give a hoot about anyone else; that is also part of the problem. Running a business should therefore be a major credit requirement in the college curriculum. The profit should determine the grade.

    • Joe H.

      Merl,
      Hell man you just made sense for all politicians,also!!!!

  • http://victorbarney@embarqmail.com Victor L Barney

    Why Wall Street Can’t See It February 24, 2010 by John Myers: Great information here! I especially liked: “Two things still stick in my mind: The utter calm before the storm, and my idiotic complacency, even after its approach.

    My fear is we face another financial storm, this one from a tsunami of dollars that have been created by the Federal Reserve and the Treasury Department.

    Yet that has created a perfect storm for rampant inflation.”

    A Great Depression is coming and in more than just word! It’s too bad that young progressive taught youth on wall street can’t see it! How unfortunate! This time our government probably will not even have the money to feed the starving “We the people!” The correct answer: Go to internet site: info@icyahweh.org

  • Justen

    Youth is a double-edged sword. The lack of experience and fearlessness can be good in some situations. Experience hardens a person, makes him resistant to seeing flaws in his own approaches, makes mistakes routine that are obvious to a fresh perspective. A lifetime of mistakes builds up to a fear of trying anything unfamiliar, which can be far ore damaging than being open to anything when tempered by good judgement.

    For every dumb college kid heaving water into this sinking ship, there is a sharp one who at the very least sees there’s something seriously, fundamentally wrong here and is looking for another way, a way that the hardened, experienced people overlooked decades ago because it didn’t seem relevant at the time, or never saw in the first place for being set in their ways and ignoring a changing environment. Even of the sharp ones, only a handful will come up with something genuinely novel and useful, but they’ll open the door for millions of others.

    Remember, not all change is negative, and not all people promoting change are trying to change to something new. Socialism and totalitarianism are very, very old ideas – dating back to the dawn of civilization. They’ve always resulted in misery, and the people calling themselves “progressives” and “change agents” who are promoting them aren’t promoting anything new at all.

    Anyway, these youth you’re afraid of, they’re going to be the ones that eventually deliver everyone out of this insanity. The older generations had their chance, and we can see the outcome of what they tried. Every kid who’s going along with the system is, after all, doing what he’s been expected to and told to *by* his elders. We can only conclude that the bright and sane amongst the older folks either didn’t try hard enough to stop this, didn’t know enough to stop it, were powerless to stop it, or were seduced by it.

    • DaveH

      The elderly have one large advantage over your youth, Justen. We have experienced Freedom that the young can only read about (if they make the effort to do that). Once the baby boomers have gone, very few people will be left that know the results of loss of Freedom. It’s difficult to aspire to that which you have never experienced.

      • libertytrain

        DaveH – scary as well as sad, as it is, I could not agree with you more.

      • eyeswideopen

        DAVEH, first you say we haven’t had freedom since the fed took over and now you are claiming that we have freedom. Which is it?
        Justen, is right, we had our chance and look what we have produced.

    • American Citizen

      My vote is for powerless to stop it. Even though we tell and warn what will happen, this Obama train is rolling right along. They are making so much noise themselves, they can’t hear and won’t listen as they have their own agenda.

      • American Citizen

        The only power we have is the vote. It’s the only way we’ll stop this train.

  • Dale E. Witsman

    When the major problem of the SuperRich is what to do with their Super Horde of surplus money, then it is time to raise the Federal income tax like FDR did, thereby they will either put their money to work creating jobs helping others & our Country or loose it. (Use it to help others & our Country or loose it.) Buying hard assets like gold, silver & etc. only prolongs the situation, for while they bid against the other SuperRich they only grow their Super Horde of surplus money making everyone’s problems bigger. However if the Surplus Horde of Money by the SuperRich is a major problem, then really our Country does not have a problem that can not be fixed rather simply by just raising taxes on the SuperRich.

    • s c

      Until I read your feedback, it looked like the
      ultraliberal progressive crowd was curiously absent. When you rant about the Super Rich, do you include the LONG list of ultraliberal progressives who are also quite Super Rich? You should realize that even if this robber baron government included ultraliberal progressive Super Rich types in a ‘nail the rich’ plan, it would NOT solve our economic woes.
      This ‘soak the rich’ delusion has never worked. If the US had ALL of the world’s Super Rich people, we might be able to put a dent in OUR economic problem (but not the rest of the world). With this prez, we’ll be lucky to have spare change in our pockets.
      Quick fixes don’t work. It’s a universal constant. Stupid people always get self-destructive results. The main reason their scams don’t work is because the space cadets who come up with these half-baked schemes have silly putty for brains. Sadly, it is still a ‘secret’ in some circles.

      • denniso

        In a capitalist economy/system the money tends to move to the top,like a nature or gravity in reverse and the middle and lower levels sink. The society and economy becomes unhealthy and even drags down the wealthy eventually. History is full of examples and that’s why the VAST majority of economists and educated people all accept the fact that we have to have controls and regulations on the ‘market’ as well as a ‘progressive’ tax system that helps resist the natural tendency of capitalism.

        • J C

          Change the word capitalist to mercantile (cronyism) and you justmight have a point there. We’ve never seen real capitalism or real free markets.

    • DaveH

      Dale,
      So you think the Government can spend and invest the money of others more wisely than the owners of that money? Dream on. It is always easier to waste somebody else’s money than it is to waste your own.
      Give an adolescent some cash money and watch how they spend it. Then give that same adolescent an opportunity to earn the money and see how they spend it. The earned money is spent a lot more wisely than the unearned money. As it is said “easy come, easy go”.
      It is those rich people, who have done the right things, that make an economy. All the government can do is get in the way of their productivity.

      • David Hall

        DaveH, Sir it does my mind and heart well, to read someone’s comments
        that have WISDOM with them! I’m probably considered dirt damn poor,
        by middle-class standards, but I don’t blame the rich, I admire people
        that had the mind, hard work ethic, and discipline to acquire wealth!
        I take my hat of to ya, enjoy reading most of your comments. P.S. I’ve
        worked my A off my whole life, with the mind-set I would always be 30
        or 40 years young. Different mind-set, TODAY! I wish!

        • DaveH

          Thank you David.

      • Rod James

        DaveH, That’s right former the former administration (us Tax Payers)borrowed 700 million to stimulate the economy. The only trouble is that no could get at it and the Bankers kept it for their own purposes.
        I just read an article by economist Ellen Brown and she stated that if the old administration had borrowed the 700 billion and started a bank they could have leveraged x 10 into 7 trillion to distribute to Really Stimulate the economy. The article goes on to state the only states doing well (surplus) own their own banks (eg: North Dakota,Montana) and this may be the trend in the future. I hope it catches on and we can get rid of the “financial blood suckers” in the present monetary system.

    • BD

      Stagnant water grows disease. Flowing water is fit to drink. Stagnant money grow corruption, trapped in the bank accounts of the super-rich. Flowing money creates jobs and opportunities, and feed entrepreneurship. If it takes a temporary increase of taxes to cure the stagnation and create flow, then so be it. Everyone will be better off as a result. The trick is to make sure that the taxes are aimed at the stagnant money, which can be a problem when its hidden in Switzerland, etc.

  • Larry Stanley

    We hold the deed to this country; we also own the printing press that is cranking out the new paper with ink on it to pay for our deeds. The wave that appears on the horizon will not wash away your hard assets, the young will be trying to eat their own to survive when the wave hits. What they were taught by the liberal education system has not prepared them for what is about to hit them.
    I do not have all the answers, I never lived in a negative world (chicken little), but it does not take a Rhodes Scholar to figure out we are in DEEP trouble and not paddling in the right direction.

  • http://gmail Lone Rider

    Most of the super rich are dems., George Sorios, the Kennedy’s, Pelosi’s, Reid, Schumers, Dodd’s, Clintons, and we cann’t forget the Bamsters all have lived of family money or the government money for decades, and sitting on boards or corporations. Only business they have operated is drug dealing, not paying taxes, or in Chuch U’s case and Dodds going to college andf right to government service. Theorists running government sleep land theories programs, and damn if it doen’t work. Creating jobs by government wonks is a joke, all the damn government park services, both state and federal going to hell in a hand basket, where is the surprise? Az. is trying to close parks because of being such a drain on state budgets, BLM, Forest Service Agancies,Farm Programs, and Indian reservations, all federal money wasted, going down rat holes. Anything operated by government air heads, they all tanks after a few decades. All managed by college educated dim wits, educated by dim witted professors like our present President and his admin. trained apes that are too asssine to grow and collect their own green bananas, instead import them from someones else’s tree. Usually private groves or busineesses which is taxed and harrassed by dinks. Most all are lawyer leaches who make rules and guide lines that they don’t abidre by. Geithner, Daschle, Kennedies, Clintons, 90 plus % of Congress and staff, and we wonder why the USA is sliding in to being like the EU and liberal idoits dream land of untrained doing the menial lifting and grunt work done low pay doing the tough stuff getting in the trenches.

    • JC

      The wealthy are always advocating socialism…for the serfs.

      • JC

        Actually I should qualify that. The “controlling” wealthy are always…

  • Pamela

    Your words of wisdom are interesting, but how on earth does one buy silver or gold?
    I never see advertisements for it in ingot or coins, only jewellery which is not priced correctly.
    Also, how does one find out what the current acceptable price for metals is?
    Any help much appreciated.

    • Doug

      Pamela a good firm to deal with is IRI Ivestment Rarities Inc. you can reach them at 1800 328 1860 I bought some Silver Eagles from them also you can get bar starting at 100OZ and right now they are a good buy!

    • JC

      If you’re going to but actual precious metals as opposed to certificates, I recommend silver. It’s much more negotiable than gold for private dealings.

  • chuck b

    you people should inquire at the u.s.mint (govt,) the 2009-2010 silver dollars have no mint mark and i received two different explanations why. i made four calls to the mint regarding the 2009 silver eagle and the u.s.mint did not mint any proof dollars for 2009, the first call i made they claimed the mint did not produce these coins only supplied the blanks for private companies and the silver 2009 dollar had no monetary value other than bullion silver. the same applies for the 2010, i again contacted the mint and this time the supervisor changed the story saying they did mint the 2010 coins, however, they had no mint mark which de-values the coin and again repeated they had no monetary value other than silver content. coin dealers will not give you the straight story on this so buyer beware when buying these coins from private dealers, check with the u.s. mint.

    • Joe H.

      chuck b.,
      I have been collecting coins from 1976 to now. i have the complete set of silver eagles you speak of and yes the 2009 and 2010 do not have a mint mark on them, but try to sell a set without them. There are many coins minted in the US that didn’t have a mint mark on them and are VERY collectable. As far as the bullion value of these coins it only adjusts with the market, not which country made them. In the gold and silver market, one ounce of .999 silver is one ounce of .999 silver no matter where it is from and at about 15.00 dollars an ounce!!! Only the weight and purity matter. And, of course, how badly someone wants it!!!

      • chuck b

        joe

        i also collect coins, i collect the silver eagle proof sets and those were not produced in 2009-2010. when i called the mint where i had an outstanding order they claimed the mint would not be producing any silver eagle coins and would be produced by private minting companies, that was the reason there are no mint marks. they are not official u.s. money. there’s no way you could have collected the complete set of proof eagles since they were not produced in those years. i have a complete set from 1986-2008. i have double checked with the mint and like everything else with this new administration you do get confusing answers. i am not arguing with you only relating the info i got from the mint, you can call them and see what info you get.

  • J C

    One thing no one seems to be picking up on is this:
    There is no way these Wall Street / Federal Reserve / White House people don’t know exactly what they are doing. They are doing their level best to keep us calm and complacent as they set us up for hyper inflation and the complete collapse of our economy. The history of political activity in the west should show us that every financial calamity in the last 150 years was set up by bankers and politicians.
    And every time they pulled this criminal scam they emerged with greater power and control of the market and judiciary.
    So what do you suppose they have in mind for the coming collapse?
    Global government comes immediately to mind. They will say that the old system of “capitalism” (which we’ve never truly seen) does not work and that greater control is needed. They will say that system of individual sovereign nations is chaos and that we need to be more of a “Global Village” (read: prison planet).
    And all the while we the Sheeple are arguing back and forth about the left and the right and who is going to save us…
    Listen up folks! The ones that are going to save us are “We The People”.
    Get ready, get prepared. The next most important thing that will concern you is your very survival as our benefactors are stealthily walking back to the stone age just so they can appear to be our saviours in the end, when in fact they be our rulers and jailers.

    • J C

      I need to proof read more, but I hope I got the idea out.

  • BD

    My view is that banks will NOT increase lending to anywhere near the pre-2009 levels within the next 5 years. Most of them still have too many shaky loans on their books, and even loans they thought were good are looking more shaky as unemployment remains high. We still have a lot of deleveraging to work through before inflation has much chance of resurfacing. Just my $0.02.

  • JPW-to Lone Rider

    Knowing that most of the super rich are Dems.like the Kennedys,Pelosi,Reid, Dodd etc.We should all encourage our representatives to use everythig possible possibe to make the tax on these people permanent.Especially more tax on those wall streeters who work so so hard to make a couple of key strokes and jack up your mortgage and interest rates,

  • http://www.ecigadvanced.com Kelly Kaser

    Thanks for the informative post. I was looking for something relevant and found your web site in the process.. I will definitely be back for more.

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