I was laying on my sleeping mat tonight, tossing and turning. It wasn't the hard floor that was causing my discomfort, but a thought that I couldn't get out of my mind. I got up and drove to the bank and took out as much money as the ATM would give me.
I think a banking holiday is going to be declared, sometime sooner than later.
Get your money out now. The time is now. Move quickly. Good luck.
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9 comments:
Assume your unease is in response to the Asian and European markets tanking on Monday. Well the people I consider smart have already said we are going to DOW 8000. That is not the end of the world thought it may seem so to alot of people. This is simply another leg down on the way to clipping 30-40% off the worlds monetary supply. Less money in banks has to translate to less money in the market. Poof it will disappear as fast if not faster than it was created.
You will notice that only one sector was positive last week. Fixed Income where I just happen to have alot of my money.
Refurbsystems what does "fixed income" mean -where you have alot of money.
I am up too and am wooried.
I ahve alot of my savgs and i sold my house 3 mths before christmas and all that is in the bank .what are your recomendations.I also bought gold when it was at 790 (quite a bit).I was looking at converting USD into swis franc or yen?I just do not want to get caught out in this shit.Any ideas?
Thanks
yes it's very bad , i'm in the same situation as you anon'....i changed my money over to euro's ... swiss francs seem stable ( is any paper money stable ? )
it's amazing that the art market is booming ...i'd love to know what john thinks about it ....hope he posts his thoughts on youtube ....really nice guy...ciao to all & best of luck .....
Bebop what is your take on the Art market and where are you getting your info from.I love Art and sculpture.I recently bought an origional 4 set ist edition of Thomas Jefferson Memoirs when I travelled to richmond and Monticello in and old bookstore(picked them all up for 400$,love reading them and thought they were a bargain,all leather bound.original cond(a bit tatty but stiil excellent cond.
What sort of Art & where do I find info on it?I amtemped to buy a Siezz sculture (arround 50004 at moment) saw it while up in carmel over christmas,but I am very nervous about what is happening ,I just do not want to lose.What areas are ging up?The Yen carry trade is intersting more and more.
Thanks.
John and anyone else want to give your two cents worth -go for it.
I see .75 5 rate cut this morn fron ben,gold ,sil immediately spiked.When do you think sell?
Considering that the house of cards are falling from the banks, what about the billions of investment dollars that have no ome to go too.
I see deflation as a risk but I do not see gold going down that much because the powers, will not want the average investor, Chinese, Indian citizen to purchase gold at cheap prices.
Inflation is a serious risk and the banking and credit system will deteriate but there is still allot of cash foating around with no home, Chna has 1 Trillion.
Fixed income is where you hide your money when you don't want to put it under your mattress. ie
Lehman Brothers US Aggregate (LBA) Index Fund
Barclays US Debt Index Fund
Those are two to name a couple. Do research on them to see what they are all about.
I like your youtube back of the envelope comments. One thing I disagree with you is the colapse of insurance companies or any other colapses.
Old saying states that when someone owns you 100$ he has a problem, when someone owns you 1 trillion $ you have the problem.
Thus, no worries nobody will colapse (or at least not at large scale) and neither will colapse US (chinese will help you on that, be sure)
John,
Would love to know what you think of the Northern Rock Article on:
http://semi-aware.blogspot.com/
Thx
Good idea.
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