This guy scares the bejesus out of me. From what I read other places, what he says rings true. Whether you listen to Peter Schiff and the Austrians or some of the Chinese economists, the real question is “when” not “if”. That’s the scary part because while we may acknowledge this stuff intellectually, we go on acting like it’s 1980 again.
So, what should we do? There’s not enough gold in the world for even a small fraction of “us” to dump our stock portfolios or whatever and hold only gold. If we’re screwed, then we’re pretty much ALL screwed, as I see it.
What’s this guy got wrong? And if he’s right, what do we do about it NOW?
Well, we’ve all got money in our Monopoly sets. And maybe the folks in India and Indonesia will give us a dime.
But luckily...our sister company can insure u now...It will just cost a lil more.... Do u want to go without insurance AGAIN??????
You should be scared...
Now that you are awake to the problem maybe you should start to prepare in order to take care of your family...
Get clear before the gold runs out?
Personal insight. My great-grandfather had a fat portfolio in 1929. Thought himself rich. Lived very, very rich. Bought lots of nice cars, houses, diamonds. One day he discovered his wealth was mostly abstract and had vanished. Try to put yourself in his shoes. One day the accountant says you're worth fifteen million. Next day the accountant says you're worth about ten grand and it's a good thing you still got that pumpkin farm.
I should add that thanks to great-grandma, we still have a lot of those diamonds. Not sure he ever knew...the details are lost to history. I like to think they hung onto the gems in case people ever stopped eating pumpkins. Point is, if you've got a portfolio, beware: it may be written with vanishing ink. Diamonds and pumpkins is the way to go.
Then Gold will appreciate until the ratio is restored.