Kerry Lutz's--Financial Survival Network

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We caught up with our old friend Peter Schiff at Freedom Fest. While he was on a panel, security was sicked on Doug Casey for smoking a cigar (Cubano of course) while participating on stage. Freedom took a major hit when Doug was forced to extinguish his rich stogie. But as Doug said, he was on someone else's property, so he had to comply with the management's wishes. I want to know who the Buzzkill was that turned him in. 

Peter made the case for limited government and eliminated socialism in his usual eloquent manner. Too Big To Fail Banks are not the product of capitalism, but socialism. Capitalism never failed, as it has been utilized in the US for many years. Eventually, the lesson will have to be learned if we are ever to have prosperity again and that's why Peter trudges on. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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John Schmidt has been shooting pool since he turned 18. He won the US Pool Open in 2006.  He's known as Mr. 400, having sunk 400 balls in a row, without a miss. He believes in learning from the masters and he carries that attitude through when it comes to investing and preserving his wealth in precious metals. Initially, his fellow competitors scoffed at the notion of a fiat currency collapse. But as the world gets closer and closer to this cataclysmic event, more of his colleagues have accepted his wisdom. John's got a great story and a winning attitude. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Ranting Andy Hoffman and I caught up with each other at Freedom Fest 2012 in Las Vegas. Besides life imitating reality TV, the fraud and the refusal to see what's really going on in the world, Andy was helping to educate a financial planner from North Carolina on the ills of the fiat money system and how the world each day gets closer to the precipice. And yes, Mrs. Hoffman still watches House Hunters and loves every minute. Perhaps that's the key, we all know its fake, but it's fun so why not?

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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We caught up with Sprott's Rick Rule in Las Vegas at Freedom Fest 2012. He's not the least bit concerned about the precious metals price gyrations, and he's actively buying metals for his personal portfolio. He believes that Contrarian investors eventually score the largest gains but that it takes guts and a lot of perseverance. Joe "Two-Pack" better have both or he should buy another can of beer and hit the road. Rick's got one of the best jobs around; he's doing what he loves and as a result has never worked a day in his life. Just don't ask him about tech investing, he's sticking to what he knows best. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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If it's one thing we like on FSN, its consistency and Nick Santiago, of www.InTheMoneyStocks.com is nothing if not consistent. From our first interview, he's been certain that gold and silver would stay in their corrections until the Fall of 2012. Twice in the past two weeks it looked like gold was ready to break out, and both times, the rallies were quickly put down. But we're getting to the point where it's print or die, and faced with such choices, the Fed will always print. It's in their charter, not really, but it should be. The elitists specialize in obfuscation and trying to get the public to sell any investment at the worst possible moment. And this time's no different. Patience in this market is certainly a virtue. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Danielle Park joined us today for the Park Perspective. The tales of corruption and exploitation in the financial sector keep getting worse and worse. From fixing the LIBOR interest rates to laundering money for drug cartels, is there anything the financial sector won't do to make a buck? But Danielle believes that there's an end coming to the bailouts, and it will be soon. The immorality of the system and it's destructive influences are becoming plain to everyone's sight. The question is, how will change come from outside the system, to rebuild it and make it honest and beneficial to society? Perhaps, events will soon unfold that make it impossible for the financial system to continue its business as usual ways, and it will become a matter of reform or die. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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"Ranting" Andy doesn't believe in coincidences, just like FDR didn't, and just like I don't. Bank "glitches" seem to be multiplying and spreading across the globe. Has the system been compromised or have the banks just run out of money? Either way, the situation appears to be worsening and nobody is talking about it. Seems like it's not being covered by the Main Stream Media or anyone else. Why would that be? The truth needs to be told now, not after the collapse. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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I was interviewed recently by Theresa Kuhn of www.LivingWealthyRadio.com. We discussed the state of our current economy and the fact that most people are completely unprepared for the changes that are about to hit, especially the "Baby Boomers" who are getting set to retire shortly. Besides the fact that there isn't enough Social Security or Medicare funds to go around, private pensions have either been eliminated or greatly reduced. This means that the individual will be responsible for financing a larger share of their retirement than ever before. And where's the money going to come from anyway? The fact is that for most "Boomers" they will never experience the luxury of retirement, whether they want to or not. Many will be forced to live with their children. Others will suffer greatly. It's time to except the new reality and start planning. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Forgiveness of debts, as well as sins, is specifically addressed in the Bible. The Book of Leviticus provides that every 25-50 years there will be a Jubilee, where all slaves and prisoners are freed, sins and debts are foregiven and property returned. Later Pope Boniface VIII decreed that a Jubilee shall take place every 50 years, and that extraordinary Jubilees would be decreed when necessary. If ever there was a time when the world needed an extraordinary Jubilee, it's now! Debt, at all levels of society, keeps going higher and higher with no end in sight. Currency units are now produced with reckless abandon. And to what purpose? It's all part of an effort to solve the greatest debt crisis in history, by going more into debt. Doesn't sound like it's going to work out very well. Whereas, in a Jubilee, we could eliminate all debt or most it, in one act, thus dramatically reduce prison populations by releasing non-violent offenders and saving billions.

Eventually, the world's leaders will realize that there isn't another way out and will be forced to go back to their religious routes to find the solution.  

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Professor Nick Economides touched base with the Financial Survival Network today from Athens, Greece. Forgive the sound quality, the economy isn't the Greek's only problem. Prof. Economides foresaw the Euro's problems many years ago, before most others. So while, we may not agree that growth is the cureall for the world's collapsing economic system, it is important that we to listen to the informed few who knew saw what was coming, before all the "Johnny Come Lately's." However, there is a growing chorus people around the world, who believe that the debt is just to large to be managed and the underlying problem must be addressed. 

Prof. Economides says that the situation in Greece is currently calm. He believes further austerity measures will be implemented and that there is little chance that Greece will go back to the drachma. He thinks this would be an unmitigated disaster. And he may well be correct. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Ty Andros joined us for another weekly wrap after a brief summer hiatus. Liborgate is the word on everyone's lips these days. Seems the governments and central banks have been rigging the LIBOR (London Interbank Offered Rate) market for years. Over $700 trillion in loans, securities, and derivatives get priced according to this key rate. Why it's coming out now is anyone's guess, but it seems to this untrained observer as if there's alot more coming down the pike that's even worse. Not to mention the fact that Spain's banks haven't really been bailed out, despite the headlines to the contrary.

Off to California where the governor, who's been detached from reality for many years, has decided it's time to condemn through eminent domain, all the non-federal mortgages on the books in the Golden State and sell them off to hedge funds around the world, to bail out the underwater homeowners. While it may sound a bit like a juibilee as mentioned in the Bible, somehow, we don't recall the hedge funds playing a role. Then all those silver shorts belong to none other than JP Morgan-Chase, according to noted silver analyst Ted Butler. What else is going on that matters any more?

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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It's July 4th, the day we celebrate our country's independence from England. While this country was founded on the concept of individual liberty, the individual's sovereignty and limited government, things have changed quite a bit, to say the least. But we still have much to be grateful for and we need to find ways to become more independent from petty bureaucrats like Nanny Bloomberg who wants to control your entire life. That's why I highly recommend a trip to the Ronald Reagan Presidential Library in beautiful Simi Valley, CA. The Library sits atop a high point over looking the Valley and it feels like it was created for this man's memorial. The entire tour is touching, moving and a tribute to a real leader, who may have used a teleprompter, but didn't really need one. It made me long for the days when people were optimistic and believed in something. But, if we all assert our own personal independence those days will return. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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June was a volatile month. Everything was getting killed until the 29th, when boom, gold, silver, etc., all came roaring back to life. Mickey and I believe that the summer will provide much of the same in most markets, with little actually getting accomplished in the real world. People are far too busy planning vacations. going to the beach and just generally chilling out, to be fixated upon the value of the dollar, the price of gold or natural gas. Of course, the summer is always a great time to be a market manipulator, what with generally low volume and thinly traded markets. One of the biggest surprises in June was natural gas which traded up to $2.76. T. Boone Pickens, a very savvy investor and "Oil man", is predicting $115 oil and $3.75 natural gas by the end of 2012. At this point in the evolution or devolution of Western Civilization, nothing would surprise us.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Elijah Johnson, the 16-year-old seemingly smarter than the Bernank, joins us again today, Monday, July 2, 2012. Elijah has now interviewed quite a few noteworthy people, and what he's learned is that the global economic crisis is inevitable. Elijah has become financially aware and acknowledges the Federal Reserve as a banking cartel. The U.S. is over 16 trillion and counting in debt, and there's really no way to pay it down. According to Elijah, and I must agree, we are left with two options: print more money or default on the debt. Either way, we are currently in a losing battle. Printing more money to pay off our debt will cause the dollar to crash and defaulting will send the U.S. credit rating down the drain. Precious metals are the least risky assets that will protect you from the impending doom.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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It was time for a Monday Rant with "Ranting" Andy Hoffman and his cohort Bill Holter. Bill believes the world's central banks are getting ready to revalue gold upward to provide for the final bailout. The news is starting to spread, and while Andy and I believe that something is brewing, we're not ready to chalk it up to mass financial sanity taking hold at the world's premier money printers. The system is a fake and a fraud, just like the popular show House Hunters. All the drama and conflict in choosing a house is completely staged, as is the drama concerning bailouts, banks and governments. Perhaps as Bill indicates, the final chapter has already been written and the bankster and powers that be are waiting for the exact moment to spring it upon the citizens of the world. No one could be at all surprised by such an action. At FSN, we are ahead of the curve and try to deconstruct all the news so you find out what's really going on. And what's really going on now is that there are no White Knights to save us. If gold does transform from a "Barbarous Relic" to the "coin of the realm" you'll know it before most.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Freedom Fest 2012 is being held in Las Vegas, Nevada at Bally's Hotel and Casino. If you're planning to attend, please send me an email at kl@kerrylutz.com. We're having a get together, with Robert Ian and other frequent guests of the show. There are at least 10 people attending Freedom Fest who make frequent appearances on the Financial Survival Network. We'll either have a lunch or a happy hour with drinks and hors d'oeuvres. 

Obamacare, if you haven't heard yet, has been affirmed by the Supreme Court. In retrospect it's not going to matter unless people finally get it through their heads that the US is losing its last vestiges of freedom. If it becomes a rallying cry and a battlefront in the war to take back our freedoms, then it will serve a constructive purpose. But if people keep watching American Idol and eating their junk food, then things will continue to get far worse, and the eventual collapse will just come all that much faster. We'll know soon enough. 

See you in Las Vegas, July 11 through July 14!

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Mark Skousen, founder of Freedom Fest and editor of Forecasts and Strategies talked about Obamacare's ratification by the Supreme Court and what it means for all of us. As he quoted, "Everything is now either mandated or prohibited." Where does that leave the individual? We need to look at the issues of liberty and engage in a genuine civilized debate. Demonization, trading of insults, and failing to properly analyze and discuss issues is leading to an ignorant and uncivil society. There's no requirement that you love your adversaries, but there is a need for mutual respect, which has been completely lacking from Western democracies for decades. 

Information on Freedom Fest can be found at www.FreedomFest.com. The conference starts on July 11, 2012 with a guest reception and continues through to July 14, 2012 at Bally's Las Vegas. We look forward to seeing FSN listeners there. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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John Manfreda believes that oil prices are headed higher, especially when the next round of money printing begins in earnest. John recently authored a report that explores the trends and future prices in depth. He's unconcerned about US and European demand, as he believes the developing world has more than picked up the slack and will continue to do so. Oil seems to have fallen into an interim sweet spot of $75-85. Each time the price has gone above that $85, it's been beaten back, and it hasn't gone below $75 for long periods of time. One thing is certain, the world will need ever increasing amounts of oil, and while we may not suffer shortages due to so-called peak oil, the costs of extraction will increase over time. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Yaron Brook came on today to discuss the ramifications of the upholding of Obamacare. The decision, while in and of itself a shocker, shows us that we now live under a government that knows no limits. If they want to mandate broccoli consumption, the Congress is free to do so. What other dastardly mandates will arise from this Obamanation? This is yet just another part of the systematic assault on personal liberty and freedom. The very idea of forcing people to engage in market place activities against their own will would have made the Founders fly into an uncontrolled rage. There are certain benefits to the ruling, which we will explore in future reports. The decision may potentially act as a check on the Commerce Clause. Remember that the Chief Judge gets to choose who writes a decision, when he's in the majority. As such, Roberts took the initiative and the message to the Tea Party and other Freedom Lovers.

More to follow!

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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As everyone knows Obamacare was upheld today. The purported conservative Chief Justice, John Roberts, writing for the majority ruled the health insurance mandate was legal, in spite of arguments before the Court, stating that if the government can force you to buy insurance, they can force you to eat broccoli as well. Because after all, it is good for you. We've stated many times on the Financial Survival Network that any time you go to court, it's a "crap-shoot." And this time was no different. While we admit to being surprised, based upon the oral arguments presented, we're certainly not shocked. This decision is simply the culmination of nearly 80 years of the Supreme Court rubber stamping, ever more intrusive government, expanding its powers to the disadvantage of the individual. To think that labels next to an individual judge's name could change the outcome is quite naive.

But take heart, Obamacare is the final nail in the coffin of the corrupt, central bank based economy. This combined with the impending tax increases will further decimate the economy and worsen the worldwide global economic depression. The sooner the current monetary system collapses, hopefully leading to a sound monetary system, the better.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Chris Duane, BrotherJohnF and Sean of the SGT Report joined me for a global economic collapse update. They all agreed that things are not going well out there and that the key to getting through the worst phase of the collapse will be communities of aware people. With millions of people popping anti-depressants like Tic-Tacs and potential food and energy shortage, things could get bad very quickly. This is why preparation and community building figure in so importantly. Not to mention the acquisition of precious metals. When the current paradigm crumbles, there will be no turning back and while there are certain dangers associated with any change on a massive scale, opportunities for personal growth and improvement will never be greater. It's going to be a wild ride.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Fr. Robert A. Sirico has written a book, Defending the Free Market-The Moral Case for a Free Economy. Through the book he has shown that while capitalism may not be inherently moral, socialism is inherently immoral. The market is a non-stop information provider that loses its effectiveness when government intervenes with taxes, subsidies, regulations and takeovers of private economic functions. Therefore, his goal is to educate people that the effects of governmental intervention are usually far worse than the purported ill they seek to cure. The danger is that the educational process takes time and that there might not be enough time to avoid the potential castrophe that is lurking. This is why ignorace of economics, the way things really work, can be so deadly. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Danielle Park of www.JugglingDynamite.com fame was with us to talk about the end of money printing throughout the world. She believes the world's central banks are coming to their senses and the overspending and overprinting will soon be over. My personal opinion is never count on a politician to do the right thing, especially when votes and re-election are hanging in the balance. It would be a wonderful thing if just this once, sanity prevailed over politics. It might be a first, but stranger things have happened, as when the New York Mets beat the Baltimore Orioles in the 1969 World Series. While I believe that my position is the more likely, I will defer to Danielle with the proviso that I want to see proof of this event when it happens.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Jason Burack believes the Euro will survive in some form, although it may be composed of different countries than at present. While the problems do seem intractable with no political will to solve them, perhaps after dropping Spain, Greece and a few others, it can continue its beleaguered existence. But don't count on it. Italy has larger debt problems than any other European nation, but for Greece. They have a tremendous amount of debt that must be rolled over in the next year. And if the money isn't freshly printed out of thin air by a willing central bank, then where will it come from? While a noble experiment, conceived to lessen their dependence on the dollar, it is ironic that they're now completely dependent upon the Federal Reserve to keep the scheme alive. No matter what happens, the Euro is not going to become another reserve currency.

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.

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Ranting Andy believes that the days of unfettered money printing and Quantitative Easing to Infinity are rapidly coming to an end. And it's not because the central banks are unwilling to deliver unlimited amounts of freshly minted currency units, but rather that these actions have become less effective. When the Fed or the Plunge Protection Team prop up the Dow, their actions now last for a day or less. Their ability to affect markets and outcomes is diminshing. However, don't believe they're going to go out with just a whimper. As they get more and more desperate, their actions will too. And that's the giveaway that the end is near. But until then, treat them as you would a wild animal that's been cornered-a threat until it's been caged or eliminated. 

Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.