Monday, May 17, 2010

Gold and Silver on their way to becoming the most valuable assets

Unpayable debt troubles America and rest of the world as the fiat money and massive credit builds the pressure hence making gold and silver related assests more and more attractive by the day. The trouble has been there for more than 14 months and seems to build up in the future.

US, UK and Europe have been living beyond their means like the federal government that continues to take in people when it should lay them off. Having lost 80% of our industrial base we struggle in a service economy that cannot service 300 million plus people, never mind supply exports to offset the cost of imports that we no longer manufacture.

Also, there are unlimited unemployment benefits which cannot be provided forever. The fiscal debt spirals ever higher and the Fed creates money and credit with no end in sight, which devalues the dollar. Taxation on individuals and businesses continues relentlessly higher. This has become the way of life in America.

In Europe there is manifestations of years of reckless spending in Greece., a nation that will have to be bailed out by the IMF and other European countries. The Greeks certainly are not blameless, but 80% of the blame lies with the bankers. These problems affect all euro zone nations and all will suffer accordingly.
Those who recognize what the problem is are can safeguard their assets and become wealthy and safe and those who ignore the signs might end up losing everything.

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Previous Post:PPL acquires Kentucky

PPL acquires Kentucky

PPL Corporation and E.ON AG today announced a definitive agreement under which PPL will acquire E.ON U.S. LLC, the parent company of Kentucky’s two major utilities, Louisville Gas & Electric Company and Kentucky Utilities Company.

These high-performing utilities serve 1.2 million customers, principally in Kentucky. The immediate reaction in the market to this deal was to bid up the price of Duke Energy, take shares of seller E.ON down a notch and dump shares of buyer PPL.

As for losing bidder Duke, it was never exactly clear just what it was willing to bid for PPL. But given the speed with which E.ON’s bid was accepted, it seems fairly clear that what it was willing to pay was somewhat less.

The huge uptick in Duke’s share price following the news it had lost the bid was basically credited in the financial press to a relief rally, that management’s urge to merge hadn’t gotten the better of its dedication to shareholder value.

“This is a transformational, value-rich transaction, which will immediately improve PPL’s business mix by adding high-performing regulated utility operations to our already strong combination of excellent regulated businesses and our high-value competitive generation fleet,” said James H. Miller, PPL’s chairman, president and chief executive officer.

PPL, Miller said, is committed to providing the highest quality service to Kentucky customers and does not anticipate any change in Kentucky employment levels as a result of this transaction.

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