Posted on 07/23/2021 6:18:40 AM PDT by blam
Reagan White House Budget Director and best-selling author David Stockman says, “This is not the time to be invested in the markets . . . . A reset is just a pleasant name or a clinical name for a crash of epic proportions, which we will have because the markets are so inflated. There are trillions of dollars that are at risk. To put a dimension on this thing or a way of sizing this, is we have a $60 trillion bubble on the balance sheets of 130 million people in American society, but especially in the top 5% to 10% that own a huge share of the assets. . . . I have no thought about how big the correction will be, but if it were just back to the norm . . . it would be a $60 trillion correction, and that is a pretty big hole in the bucket. If $60 trillion disappears (out of the U.S. economy), it changes everything. It turns the financial system and economic reality upside down.”
How did things get so perilous in the economy? Stockman says look no further than Washington D.C. and the Fed. Stockman explains, “When central banks start to inflate like crazy, you first inflate financial assets. It eventually works its way into goods and services, and that’s where we are now. You get the second stage of inflation as well. There has never been a small group of government officials, unelected at that, who have done more damage, more wanton harm to the economy and to the lives of ordinary people than (Fed Head) Powell and his merry band of mad money printers. This is really an outrage. I say these people are damn near criminally incompetent given what they say about the world, which is totally wrong, given what they’re doing, this massive money printing, which is totally unjustified. . .”
Stockman thinks there will be a “50% to 75% correction in the financial markets.” Stockman contends, “The only asset that has held its value over time is gold.” Stockman recommends everybody should be holding some gold as insurance against the coming “reset.”
In closing, Stockman warns, “Preserve your assets. This is the last moment in time to be greedy or aggressive or to be overly optimistic about the future. The future is being driven by the policy makers . . . . The whole system is being run by Washington. The Federal Reserve totally dominates the financial markets. . . . The Fed has printed $6.5 billion a day for the past 688 days. . . . They have printed more money in the last 688 days than the Fed did in the first century of its existence.”
And having gold will benefit how exactly?
I don’t know what to believe anymore. I’ve been hearing this same story since the 80’s.
If I had investments, I would sell most of them and move towards metal commodities. That’s probably the best thing to do, because the stock market in 1929 lost 90% of its value.
For your interest.
Bump FRiend!
I don’t trust e-coin or stocks.
I believe metals and prepstuff and and commodities is where the money should be during tough times, because people need to eat and live. Even if they can’t do much else.
Great idea... until the government passes a law making it illegal to own more than one ounce of gold, under penalty of imprisonment, fine and confiscation without compensation. Then, all the gold one owns goes into the ground or under the bed.. unless you would care to trade it in for the new currency, at 10 cents to the dollar.
Buy lead, boys!
For later
It might come to that this time round. The elites are going for broke this time to own the world.
There is no safe harbor in the coming storm.
All will be hit.
But some less than others. It is a relative thing, not absolute
The best and riskiest investment is family and people. You are going to need them.............................
I agree. It is too late to be in gold, way too late. May be some junk silver coins and those for the actual barter value. They will be the only thing recognized as currency for a while.
Otherwise prep items. And skillsets everything from crafts to computer will be needed.
Stockman has been saying this since, like forever. Maybe he’s right this time. But maybe it’s just the same old Stockman routine.
You are right that the safest investment is people you can trust. All things will take a hit and all things took a hit in 1929 as well, including gold.
However, that things will hit rock bottom and climb up again, you want what will lose the value the least and that is the basic stuff that people use the most or will unquestionably use anyway.
So, I suggest metals, and commodities, and prep stuff for personal use. That’ what I would do if I had the money.
I completely agree.
I will starve, because I never had the same opportunites as most people, but I’m mentally prepared for that, because I can be mercifully dead in about 4 days. :)
“Stockman thinks there will be a “50% to 75% correction in the financial markets.” Stockman contends, “The only asset that has held its value over time is gold.”
If you think equities are overvalued: short equities. If there’s a crash anything like what Stockman predicts you will get 100x your investment back.
Why buy gold if all it would do is retain its value?
Stockman-is he or is he not an attention whore?
I am convinced the economy is nearing a reset, because we’ve been manipulating everything to avoid small losses. I think that’s more of a fact than anything else.
The question is what to do to protect yourself from a financial reset. The only thing I know to do is focus on what society will still continue to need, even in the worst times. That’s metals, commodities, and prepstuff.
Unless we are heading into Mad Max world, to which there is no protection for anybody who isn’t already island self-sufficient, that’s what I would do.
How would Uncle Sugar determine the amount of hard assets one possesses?
Has Stockman any sort of a track record on finacial predictions? Other then the obvious !
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