Hi Biggles,My dad was once crossing a field in Yorkshire full of...

Hi Biggles,

My dad was once crossing a field in Yorkshire full of beef cattle and had the misfortune to have his flat cap blown off in the wind. He picked up and tried on several flat caps until he found his own. When you tell us you are so busy having described your lavishly rewarded idyllic lifestyle to give us your usual half hour daily commentary I start to think that what you are talking is what my dad mistakenly thought was his flat cap!

I believe your view on cash as being the only safehaven is beyond funny given the depreciation of the US dollar since the start of the Fed in 1913. The example of the K Mart jeans and Gold blows your argument clear out of the skies. In fact Biggles I would say you received the whole nine yards!

(By the way twenty seven feet was the length of the Browning machine gun ammunition belt used on the Spitfire! Hence the saying.)

Not sure how many people you meet that have managed to amass a few million dollars through their own efforts but of the several I know of, not many of them are idiots.

I sold all my property started renting my home (depreciating asset) and started buying Gold in 2002 and have continued buying Gold, and would certainly qualify for being heavy and long in Gold. I am not a big technical kind of person but if you just look at the last ten year graph of Gold and can tell me just where I am going wrong I will be obliged sir. You see I had no money in 1980 so have no interest in that time other than a mild historic one. The last ten years though are very real and personal to me!

You still maintain your Panglossian view on the US debt and the avoidance of another depression to equal or better the 1920’s one and that sir is your prerogative. As for me I will continue to put my faith in physical Gold and Silver for the time being at least until I see some positive interest rate action and don’t expect that before 2015 at least.

As I have said before this depression business can actually be a very personal experience even in the 1920’s 70 -75% of people managed to hold onto some kind of job.

In my hotel in Sligo Ireland I have just seen the BBC news from London. Great news the current recession is declared over! That item was followed by the news that Ford in Southampton are to close their van plant with a loss of five hundred jobs. By the way since April 2012 Southampton has lost 500 British gas jobs, 220 B & Q jobs and some insurance mob laid of another 200 jobs.

I am sure that many people in the UK are pleased to hear that the recession is over; however, I dare say at least 1,420 families in Southampton are starting their very own personal recession/ depression.

Maybe you and I will not have to suffer a persona depression or recession you with your vegie patch and me with my physical; however, I would say its stupidity itself to deny that it is happening to many others around us in all walks of life and in every country in the World.

Cheers sir and very best regards: Andy