Posted on 10/14/2013 7:05:27 AM PDT by IbJensen
Take immediate steps to protect your wealth . . . NOW!
That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.
Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”
When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”
(Excerpt) Read more at moneynews.com ...
Probably best to just sell off due to the Bernake-Obama mismanagement and wait until he's out!
The rich people will be just fine.
I read the article (which reads more like an infomercial), but no real prescriptions for protecting one’s wealth.
Not destruction, but seizure and redistribution to the obama voters.
bump for later
“And I looked, and behold, a black horse.....”
Agreed. Martial law first, arrest congress, then seize all electronic bank accounts and safety boxes.
the SEQUESTER WILL DESTROY THE NATION!!!!!!
opps sorry wrong propaganda memo...
(/s)
how many times will obama cry wolf?
It will be more difficult to seize what is in “mattresses”.
And real estate.
Porter Stansbury
Rich people will clean up by buying assets like real estate that will have become severely devaluated.
A friend of mine has a substantial amount of his retirement savings in gold with Swiss America.
The rep there told him that they have plans in place such that any rumblings of gov’t confiscation would trigger shipments of the material directly to the owner.
I know, this is just a promise. But guys like this might received warnings from insiders in time to thwart any such seizure plans.
Better to hold the real thing in your own coffers.
Yep. It’s much harder to get through the bullets than just punch a few keystrokes.
They always do, always will. And they'll do just fine in their mountaintop gated communities, islands, silly little countries that only let rich people in. Meanwhile us little folk will play survival of the fittest, and the entitled will still find a way to profit, from afar.
Isn't that why the RINOs really don't want to get rid of Obamacare?
How to prepare? Darned if I know.
It is, but when you’ve already got it tied up in IRAs,
that 10% penalty plus the income tax on top of that would be a big hit.
There is going to be an EPIC collapse in the buying power of fiat currencies. Holding real money is your key to getting out the other side.
Bonds will tank.
Shares will go up in nominal terms but in general wealth held in shares will lose ~ 50% of its buying power.
Not all shares are created equal of course: commodity shares and world-dominators will do fine.
Buy Gold, Silver, hard assets. Also real estate (preferably held in a low-tax non-left-wing administration).
That is my question. I am open to suggestions. How in the world to you prepare for something like this?
You mention “holding real money”. What exactly do you mean? Cash in your mattress? In the bank?
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