Posted on 10/14/2013 7:05:27 AM PDT by IbJensen
Take immediate steps to protect your wealth . . . NOW!
Thats 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 ...
>>Take immediate steps to protect your wealth . . . NOW!
Thats exactly what many... noted authors<<
These noted authors need better editors. Is there any better time than NOW to take immediate steps?
/commentary from the Department of Redundancy Department
I certainly hope so.
Did I tell you I have a Bentley?
This article is utter nonsense since it has multiple self-contradictory premises, such as the government can’t afford to pay its promised entitlements, yet quantitative easing will occur, yet a recession will also happen, oh, and wealth will be lost due deflation of bubbles such as the stock market collapsing.
That’s not what’s going to happen.
What IS going to happen is that the government WILL pay entitlements with unlimited fiat money obtained nearly for free from the Fed and all of this money will result in inflation (not deflation), and the inflation WILL result in economic stagflation, not a classic recession.
It’s also extremely unlikely that the Fed or the government will allow a loss of wealth triggered by a stock market collapse, as (once again) the Fed will simply pump unlimited conjured fiat money into the market to prevent that from happening, again with inflation and stagflation resulting.
It is true that massive wealth WILL be lost, but it will be lost via inflation and it will hit everyone but the wealthy who have the means to weather inflation by buying stuff like gold, silver, land, real estate, and factories. For the rest of us? Nothing but the hidden theft of the hard-earned savings of our label quietly transferred to the wealthy and the government (and hence to their minion of leeches and moochers) in the form of the silent tax of inflation.
At this juncture, massive inflation is guaranteed, the only question is when. Will it be 3 years from now or 10?
All one has to do to know for a fact that the above will happen is to read “The Creature from Jekyll Island”: A Second Look at the Federal Reserve”, which should really be titled “A History of Fiat banking and The Creature from Jekyll Island”.
I read an interesting analysis from the Asia Times (actually a very good site) that said that the forces of deflation (which we are strongly in) are being JUST offset by the monetary 'printing'. They've tuned the machine pretty well. If they squeeze another year out of it, I'd be delighted. It would give me another year to prepare for the inevitable collapse.
Real money are those substances that have all the attributes of money.
Money must be durable, divisible, fungible, consistent and (most important for the present day) it must act as a store of value.
Paper currency has most of these attributes. However it does not act as a store of value. It is created in vast amounts with very little work by the fiat power. For this reason the dollar, the pound, the yen (etc) have all lost most of their buying power over the last century - and hundreds of fiat currencies have lost 100% of their buying power.
Our modern electronic currency is even worse to the extent that it can be created with no work whatsoever - not even ink and paper are required.
Gold and Silver (however) have all the attributes of money. They will maintain (in fact they will greatly increase) in buying power in the event of a collapse of fiat currencies.
Hope this was helpful.
Prepare for massive backlash!
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