Below are the 23 reasons you buy gold now, as summed up by Roger Wiegand.

1. Bond markets are overbought.

2. Junk bonds and municipal bonds are going very scary.

3. Japan’s bond pile is so enormous it simply cannot go on much longer.

4. Since U.S. bond markets are 70 times larger than the shares, when this baby pops it could be financial Armageddon.

5. Equities have gained nothing for a decade. They gave it all back.

6. Gold has tripled in less than ten years and is rising even faster.

7. Consumer confidence is at new lows.

8. Real estate foreclosures were reported up 18% this morning. It’s getting worse.

9. Billionaire Wilbur Ross posted an extreme warning on commercial real estate. We said the same thing many months ago. Insurance companies holding this paper are going down, too.

10. Moody’s is going to report stuff ever faster; each month instead of intermittently. They do not intend to take more extreme criticisms on all of these bank and corporate failures.

11. The stimulus in the U.S. has stopped having any effects. Now the political manipulation idiots want another one. More paper printing and dilution with inflation and hyper-inflation results.

12. One of the last remaining sources of investment bank income, trading, is being capped by a federal dolt restricting pay. The good traders are going overseas. Adios bank income. All they need is Glass-Stegal and reasonable SEC enforcement. They won’t do it.

13. China has five big bubbles in progress. Watch for them to pop individually or collectively-credit, shares, housing, banks and real estate.

14. Financial stocks are headed south again after the bear market dead cat bounce and free taxpayer cash.

15. Bank credit is as scarce as hen’s teeth. These guys are working the spread on free government cash and not lending. New loans are pure fiction.

16. Borrowers qualified to borrow are cutting back credit lines and hunkering down with cash. Smart ones are shunning debt for liquidity. They know what’s coming.

17. GE is having a fire sale to off-load as many divisions and assets as possible to raise cash. Being a big bank (not in name but as GE Capital) they are in deep you know what. We think they could potentially fail and we give it one out of three. That would really dump ALL the markets.

18. CIT, the premier lender for medium and small businesses went bankrupt. Yes, they will reorganize but with what tiny previous percentage of loans being originated? Small business is credit dry as CIT funded receivables.

19. Dollars are oversold and will bounce a little. For the longer pull they get cut in half again.

20. The Canadian Dollar is rising on commodities and a government with a much better balance sheet. For the shorter term it could correct mildly but then should rise in value beyond the US dollar. Canada is best situated to weather the storm in our view.

21. The Swiss Franc is another fiat currency. However, it is sounder than the others and is still perceived as being a “safe and secure currency”…a place to park some cash for a rainy day.

22. The Euro is overbought and should be selling back to some place lower. Recently it’s been an inverse dollar trade in rallies.

23. Barter has begun in earnest with crude oil. Producers are finally skipping the interim paper cash or bond route as currency. China can buy oil with trade goods and so can others. Look for barter to spread rapidly.

IN SUMMARY

- Since USA consumers are 70% of the American economy and this economy is the world’s fiscal driver with our failing dollar covering 80% of the world’s reserves; think about this nasty combo.

- U.S. consumers are saving not spending.

- Consumers are unemployed to the tune of 20% in USA. It’s going to 30-35%.

- Since credit is terribly expensive (29.99% on credit cards) and not available for the most part, the American economy is stalled and frozen.

- Stocks are flat to down and have earned nothing for a decade.

- Where is the engine of growth? Who has credit? Who has money to spend?

- U.S. Dollars are sliding in value as shares are peaking and selling-off.

- We are toast and the worse hits in 2010-2012; then comes World War III.