TheEconomicSurvivor.com

Will Gold be confiscated again?

2010-07-05T04:16:00Z

From LRC :

Our nation was founded with the sacred words, “We hold these truths to be self-evident, that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty and the pursuit of happiness.” But in1933,all that was shattered if by “pursuing happiness,” you chose to pursue gold.

Read the full article here.

Dollar Plunges After UN Call To Ditch Greenback

2010-07-05T04:05:00Z

Paul Joseph Watson
Prison Planet.com
July 2, 2010

The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).

The dollar’s trend of moving inversely to the stock market has seemingly been snapped, with the Dow Jones falling over 100 points atone stage today. However, as soon as markets began to claw back losses,the greenback failed to follow suit, indicating that whichever way markets move, the dollar is in big trouble.

The UN report called for “abandoning the U.S. dollar as the main global reserve currency, saying it has been unable to safeguard value,” according to Reuters.

“A new global reserve system could be created, one that no longer relies on the United States dollar as the single major reserve currency,” stated the report, adding that this new system should not be based on a basket of currencies, but on IMF-controlled SDR’s.

Followingglobalist moves to restore confidence in the single currency euro in the aftermath of the Bilderberg and G20 meetings, the concern has shifted from sovereign debt issues of countries like Greece and Spain,to the worsening state of the U.S. economy and the risk of a double-dip recession.

In the immediate aftermath of the 2010 Bilderberg meeting in Spain,at which globalists resolved to save the euro from collapse in an effort to restore confidence in their ultimate goal of a global single currency, the euro began to make a recovery and today rose against the dollar by over 1.5 per cent.

A cascade of negative U.S. economic data was released today, with job figures turning sour once again.

“Jobless claims were a disaster, coming in at 472k, on expectations of 455k,” reports Zero Hedge. “The economy has now entered the “total free fall”area”.

The dollar is being targeted for destruction because the financial terrorists who caused the economic collapse in the first place want to exploit the crisis in order to institute a new global currency issued by a global central bank.

In May, IMF chief Dominique Strauss-Kahn told elitists in Zurich Switzerland that the introduction of a global currency backed by a global central bank would act as the “lender of last resort” in the event of a severe economic crisis, another lurch towards fascist centralization of power in pursuit of a system of global governance.

Alex Jones breaks down the takeover by offshore banking powers– newly empowered by Congress’ banking “reform,” expanded taxes worldwide, as well as accelerated moves towards ending the Dollar’s reserve status,including urging from a recent United Nations report.

“This is as big as World War I or World War II,” Alex Jones warns.“What is happening now is bigger than the banking takeover of 1913… it is a worldwide financial coup d’etat.”

Lawmakers guide Dodd-Frank bill for Wall Street reform into homestretch

2010-06-27T14:57:00Z

From the Washington Post:

Nearly two years after tremors on Wall Street set off a historic economic downturn, congressional leaders greenlighted a bill early Friday that would leave the financial industry largely intact but facing a more powerful network of regulators who could impose limits on risky activities.

The final bill took shape after a 20-hour marathon negotiation between House and Senate leaders seeking to reconcile their separate versions.The legislation puts a lot of faith in the watchful eye of regulators to prevent another financial crisis. New agencies would police consumer lending, the invention of financial products and the trading of exotic securities known as derivatives. Bank supervisors would have the power to seize large, troubled financial firms whose collapse could threaten the entire system. The bill calls for banks to hold more money in reserve to weather economic storms but leaves the details to regulators.

Read the full article here.

7 Common Mistakes of Precious Metals Investing and How To Avoid Them – Part 5

2010-06-27T14:44:00Z

APMEX.com

Common Mistake #5 – Superficial Research

When faced with something new, it’s easy to simply scan the owner’s manual for the basic information and then “wing it.” It is tempting to do the same when beginning an investment in precious metals. In the precious metals market, superficial research is just looking at such general information as spot prices — in other words, doing the bare minimum to prepare yourself before jumping in. The downfall of not doing serious research is obvious. There are many, many layers of information that must be sifted through before an investor can feel confident in his investment choices.

Do your research

From forums to chat rooms to blogs, there are multiple sources of information available online for those who want to invest in precious metals. Precious metal forums (goldismoney.info , cointalk.com , etc.) are great places to read other investors’ opinions, strategies and the experiences they’ve had with specific dealers. In a chat room, you can talk to others one on one. This conversation can lead to invaluable information, not to mention the fact that you can ask specific questions and judge answers for yourself very quickly. Thanks to major online portals like Facebook and LinkedIn,there are many investor groups you can join to learn more as well to make new friends, learn more about the industry and locate additional sources of information. But also remember that you do not know what hidden agenda, if any, someone may have, so consider all aspects of any investment advice that anyone offers to you very carefully.

Industry respected company blogs (like the official APMEX blog at apmex.wordpress.com) are another solid source of information for the astute investor. From learning about popular products to recent news and movements in the market, company blogs can provide great insight, especially for those new to precious metals investing. Other good sources of investment information are mainstream news providers such as The Wall Street Journal,The Street.com, Yahoo Finance or Reuters. News on the Internet travels fast, both good and bad, so due diligence is an absolute must. Try to corroborate information on multiple sites; the more mainstream the better, especially if the news or opinion seems far-fetched or unreasonable. Trust your inner judgment – if something sounds unusual,verify it with multiple reliable sources.

Learn about the preciousmetals in which you are interested in investing. Learn about the different forms, shapes and sizes, in which the metal is manufactured.Learn about the world and private mints that produce these products.Learn also about the leading dealers that sell these products. In the beginning, it may be appropriate to concentrate on a specific metal,such as gold or silver,and invest in it once you are “smarter” about it. Once you are comfortable with the unique market of the metal of your choice, then you can diversify into other precious metals. If you follow this patient advice, your success ratio will likely improve. Good luck!

Disclaimer

The American Precious Metals Exchange, Inc. (A PMEX)is not a registered investment advisor. Readers are advised that the material contained herein should be used solely for informational purposes. It is not the intention of APMEX to tell or suggest which precious metals investments members or readers should buy or sell for themselves. Site users should always conduct their own research and due diligence and obtain professional advice before making any investment decision. APMEX will not be liable for any loss or damage caused by a reader’s reliance on information obtained in any of our newsletters,special reports, email correspondence or on our website.Our readers are solely responsible for their own investment decisions.

The information contained herein does not constitute a representation by the publisher or a solicitation for the purchase or sale of investments. Our opinions and analyses are based on sources believed to be reliable and are written in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. All information contained in our publications or on our website should be independently verified with the companies mentioned. The editor and publisher are not responsible for errors or omissions.

Any opinions expressed are subject to change without notice. Owners,employees and writers may hold positions in the investments that are discussed in this publication.

[The Economic Survivor has no affiliation with APMEX and does not endorse them in any way]

How to negotiate for a used car

2010-06-25T22:27:00Z

Buying an automobile is a big step and very expensive. So The Art of Manliness breaks down how you should negotiate for your next used car.

HT: LRC

Rise of the new gold rush

2010-06-24T01:41:00Z

From Neithercorp Press:

They called us “kooks” and “crackpots”. They said our ideas were outdated and incompatible with modern finance. They said it wouldn’t last. Oh yes, Gold, they said, was a silly investment with no inherent value, and soon, precious metals investors would be “wiped out” by the“inevitable implosion of the gold bubble” (gold bubble….?). Mainstream establishment economists and Keynesians have been yipping and snarling like overanxious Chihuahuas for the past two years against gold and silver, most specifically their use as a hedge against collapse in stocks and currencies.

The vitriol they have aimed at PM’s and PM enthusiasts, though,borders on the obsessive. If we are all “crazy survivalists” andY2K’ers, then why bother with us? Wouldn’t the folly of our financial strategy be blindingly evident to the majority of investors if we really are all madmen waiting for the seas to boil? If there is no chance of monetary implosion, why bother to plead and beg with the average American NOT to buy gold? Why invent wild generalizations and stereotypes of precious metals investors to dissuade the public from examining our model for economic security? Wouldn’t the mere passage of time prove us inaccurate? What is it about gold that frightens them so…..?

As it turns out (and just as we expected), gold and silver have held strong and even made record gains. Gold is one of the top performing investments of the decade, rising over 277% in value from 1999 to 2009...

Read the full article here .

Americans go from hope to barely holding one

2010-06-24T01:26:00Z

"The recession that began in December 2007 produced a change in Americans' perception of their economic future," writes Gary North. "They moved from the tradition of hope to one of just barely hanging on. I have never seen this before.Only someone born around 1910 can recall anything like it,assuming that he recalls anything at all."

Read the rest of the article here.

China to overtake U.S. in manufacturing

2010-06-22T01:33:00Z

From FT :

The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.

The figures are revealed in a league table being published on Monday by IHS Global Insight, a US-based economics consultancy.

Last year, the US created 19.9 per cent of world manufacturing output, compared with 18.6 per cent for China, with the US staying ahead despite a steep fall in factory production due to the global recession.

That the US is still top comes as a surprise, since in 2008 – before the slump of the past two years took hold – IHS predicted it would lose pole position in 2009.

Read the full article here.

101 Thoughts on America's Economy

2010-06-22T01:17:00Z

From LRC :

1. The crucial objective factor promoting economic growth in a private property social order is per capita investment.

2.Americans save less than 5% of household income.

3.The Federal Reserve System runs the show economically; Congress doesn't.

4.Here is the supreme symbol of the chain of command: Congress will not audit the Federal Reserve.

5.The politics of delay is the supreme mark of today's political order.

6.The Medicare budget is the single most important source of the Federal deficit,long-term.

7.Social Security is in second place.

8.Congress will eventually have to cut the benefits promised to oldsters in order to delay outright bankruptcy.

9.Congress will not cut the budgets of Social Security and Medicare in one fell swoop.

10.Oldsters vote at a higher percentage than any other age group.

Read the rest here.

7 Common Mistakes of Precious Metals Investing and How To Avoid Them – Part 4

2010-06-19T13:01:00Z

APMEX.com

Common Mistake #4 – Physical Gold And ETFs Are The Same

Many investors, especially those new to precious metals, make the critical error of thinking that owning an Exchange Traded Fund (ETF )that invests in gold, such as GLD, is the same as owning the physical gold itself. This mistake is born of a common misunderstanding. While ETFs do buy some physical gold, there are many differences between owning shares of an ETF and owning physical gold.There are many differences you should be aware of that make ETFs significantly more risky, as an investment, than owning and storing the physical precious metal yourself.

For thousands of years, gold and silver have been highly desirable and recognizable commodities that are easily bought, sold and exchanged for goods on local and world markets. You can take physical gold from New York to Zimbabwe and everyone will immediately recognize the inherent value in the metal itself. In essence, you can use physical gold or silver in lieu of, or for exchange of cash all over the world.

As the owner of a gold ETF, you ultimately only own a piece of paper,a promissory note, showing how many shares of the fund you own; however you do not own any actual physical gold. The ETF owns the gold and you own a promise from the fund managers to pay back the value of the shares you have purchased in the ETF. The ETF certificate that you own is something that is not universally traded on the world markets, nor is it widely recognized or easily exchangeable for currency. You would have a very difficult time trying to trade paper certificates for goods or services the same way you will physical gold.

Many newcomers to precious metals investing ask, “Aren’t gold ETFs the best way to take advantage of the rising gold prices?” “Probably not,” is the most accurate answer. ETFs do not always accurately reflect the current price of gold. That is because you are trying to compare a physical precious metal product to a piece of paper. In the past five years, the premiums on the spot price of gold have grown 10-40%, which may not be accurately reflected in the price per share of a gold ETF.

Also, if you read the language of an ETF prospectus carefully, you will see that your investment in the ETF could possibly drop to $0 in value. This highlights two critical factors to consider about ETFs: 1)you are trusting someone else to establish the value of the gold possessed by the ETF, and 2) you are trusting that the fund managers actually have enough physical gold to cover your investment and all of the other shares invested as well.

These two concerns are negated when you consider physically possessing gold. First, the value of your investment is determined by the market, not by a fund manager or by the popularity of the shares of a given ETF. Second, since you physically possess the gold, you know exactly what it is worth at any moment in time and are not dependent on another person or entity to tell you what you have. The chance of physical gold becoming worthless is virtually impossible, given that gold and silver have always had, and should always have value. While the value of gold may fluctuate depending on a given currency or during any given day,there will always be some value associated with these precious metals due to the fact that precious metals are rare elements, cannot be“manufactured” and have a myriad of industrial uses.

Yet another major concern surrounding ETFs is the increased possibility of counterfeiting. You may have read articles documenting the recent discovery of counterfeit gold bars, which have a core made of tungsten, which has almost the exact same weight and density of gold.Counterfeiters primarily target the 400 oz. size bars that all ETFs purchase because of the time and expense in the counterfeiting process,and the massive return on their counterfeiting investment. These bars are the only size bars that an ETF purchases, often purchased sight unseen, and they are rarely, if ever, critically audited. In fact, 400oz. bars are typically only used by institutions, ETFs and world governments. Once again, in the language of the prospectus, you will find that if the ETF were to discover that they were holding counterfeit bars, the loss of value would result in a loss of value for the shareholders of the fund, not the ETF managers who purchased and accepted counterfeit bars in the first place.

At APMEX,we have highly-trained experts who can detect counterfeit products of any type. All of the gold coins and bars that we offer were manufactured by government-owned or well-known private mints, making these product seven more resistant to tampering. The vast majority of coins and bars wesell are smaller in size, making them much more difficult and less profitable to counterfeit as well. Because of these three simple facts,you can be confident that the physical precious metals you purchase from APMEX are genuine.

Finally, there is a question of security. Some people are concerned about holding physical gold in their households and find that the idea of having shares of a precious metal ETF is quite appealing. When you consider the potential losses that could be sustained by investing in an ETF, the prospect of securing your gold coins or bars in a bank safety deposit box or even in a simple household safe is negligible at best. Many homes today are equipped with high-tech alarm systems, locks and other security measures. Installing a simple gun safe, wall safe or floor safe is an inexpensive and effective way to protect your precious metals.

This chapter has identified the advantages of owning a physical precious metal versus owning a paper ETF. When making your investment choices, you should always do your homework, always read the fine print and always understand what you are purchasing.

Disclaimer

The American Precious Metals Exchange, Inc. (A PMEX)is not a registered investment advisor. Readers are advised that the material contained herein should be used solely for informational purposes. It is not the intention of APMEX to tell or suggest which precious metals investments members or readers should buy or sell for themselves. Site users should always conduct their own research and due diligence and obtain professional advice before making any investment decision. APMEX will not be liable for any loss or damage caused by areader’s reliance on information obtained in any of our newsletters,special reports, email correspondence or on our website.Our readers are solely responsible for their own investment decisions.

Any opinions expressed are subject to change without notice. Owners,employees and writers may hold positions in the investments that are discussed in this publication.

[The Economic Survivor has no affiliation with APMEX and does not endorse them in any way]

Is it ever okay to get into debt?

2010-06-17T01:37:00Z

According to Yahoo! Finance some experts say its okay to carry debt to buy a house or education. However, while I think it is okay to carry some debt to buy a house (but not one of these crazy zero down deals) I do not think acquiring debt for an education is a good idea. Not anymore, not for more than $10,000 anyway. The fact is that you can find an inexpensive way to get an education if you look hard enough. And don't ever go to school just to go to school. In other words don't go and get your PhD in Latin just because you can't find a job. There are kids graduating law school with $150,000 worth of school debt hoping to find $40,000 per year jobs. Yeah, you do the math.

Still expect to receive your pension fund?

2010-06-17T01:24:00Z

Don't, says Gary North at Lew Rockwell.com :

Last week,the governor of the State of New York began working out a deal to delay the imposition of drastic spending cuts in state and local governments. The problem facing all levels of government in New York is simple: the pension funds are not being funded adequately to enable retirees to receive what they have been promised. The retirees were overwhelmingly members of various trade unions. For decades, they successfully gained above-market wages and far above-market pension promises. Because unions have some political clout, state legislatures have cooperated. Union members have been able to benefit at the expense of taxpayers.

Now,however,the pension funds are under-funded. The decline of the stock market in 2008 and 2009 so eroded pension fund assets that municipalities and the State of New York have no likelihood of being able to recover from those losses in order to meet the obligations to retirees.There is no obvious solution to this problem. The governments over-promised to unions, and union executives over-promised to union members.Those promises cannot be met, according to specialists who have studied the pension programs.

Read the full article here.

Are global Oil firms behind war in Sudan?

2010-06-16T00:25:00Z

From Commodity Online:

A consortium of international oil companies should be investigated for sparking a war in Sudan, a European advocacy group says.

The European Coalition on Oil in Sudan, which has headquarters in the Netherlands,calls on respective governments to investigate Swedish oil company Lundin, Austria's OMV and Malaysian energy company Petronas for their role in Sudanese conflict from 1997-2003.

The ECOS report said the start of oil exploration in Sudan sparked a conflict that included large-scale violations of the laws of war.

Lundin and it coalition partners signed a contract with Sudan in 1997 for oil extraction in parts of the country not under full government control.

Read the full article here.

Federal Reserve very concerned about double dip recession

2010-06-16T00:18:00Z

From The Economic Policy Journal:

The Federal Reserve appears to have serious concerns that the economy is heading into a double dip recession. That's the only way to read a report coming from WSJ reporter Jon Hilsenrath.

Couched in the conservative, hedging style of the Federal Reserve,Hilsenrath's column is really a five alarm fire bell. Hilsenrath does not quote anyone by name and merely refers to "Fed officials", but this type of story does not come out without a strong source.

Read the full article here.

Gerald Celente on the coming collapse and WWIII

2010-06-16T00:09:00Z

Lew Rockwell interviews Gerald Celente about the coming collapse.

"What does the state-bank-military complex plan next? As the second stage of the financial crisis hits, says Gerald Celente, we can expect them to start another war to divert people’s attention from the wholesale robbery of the productive. He also fears that WWIII will start when Israel or the US attacks Iran. It could go nuclear, or involve biological WMD. But that won’t prevent the default of the UK, Spain,Ireland, and the rest, and the continued rip-off the people by the 'Harvard-Princeton-Yale-Bullets-Bombs-Banks' regime. The result, says Gerald, will be worldwide civil unrest. This is, after all, a bunch that can’t stop an oil leak. He tells us what he is doing to protect himself."

Listen here .

Volker Warns: We Are Running Out of Time

2010-06-15T00:58:00Z

From MoneyNews.com:

America is running out of time to fix its huge economic and fiscal problems, warns former Fed chair Paul Volcker, who now heads a financial advisory board to President Obama.

“Restoring our fiscal position . . . sorting out a reasonable approach toward limiting carbon omissions, and producing domestic energy without unacceptable environmental risks all take time,” Volcker writes in The New York Review of Books.

“We’d better get started. That will require a greater sense of common purpose and political consensus than has been evident in Washington or the country at large.”

The risks associated with the virtually unprecedented levels of public debts as the U.S. emerges from recessions are evident, Volcker notes, and must be effectively dealt with now. Dealing with uncontrolled borrowing is “not a matter of intellectual awareness but of practical confrontation,” he says.

Read the full article here.

7 Common Mistakes of Precious Metals Investing and How To Avoid Them – Part 3

2010-06-15T00:51:00Z

APMEX.com

Common Mistake #3 – Over-reliance

Information on investing in precious metals is everywhere and it’s natural to seek advice from outside sources. When experiencing challenges, we tend to look outward for solutions. However, this is a double-edged sword. On the one hand, it’s prudent to educate yourself before undertaking a precious metal investment. Online forums are terrific sources of information. Just make sure you’re always mindful of your sources. Not all outlets available to you are reputable.

On the other hand, problems arise when you rely too heavily on these outside sources. Often times, people forget to look inward in addition to seeking outside assistance. After all, there is no magic solution and no one path to success. No one can guarantee in which direction the market is going to move. It simply cannot be done.

Therefore, the most important person you can turn to is you. Success comes from diligent research, solid advice from other successful people,patience and emotional fortitude. Investing is a skill which must behoned over time. There just aren’t any shortcuts in that respect.

Gain Your Own Experience

Don’t mindlessly follow the suggestions others give you. There is little value in getting someone’s opinion on the best course of action.Just as schools prepare children for lives as successful adults, so must you learn the ways of succeeding in precious metals investments. Rather, ask others how they came to their decision.

Seek their advice on skills, not tips. It may be tempting to take the quick solution through tips, but keep in mind that tips are not transferable skills — they’re the cheat sheets that may help with short-term gains but may ultimately lead you nowhere. Learning to “see”the market as someone successful sees it is the best skill to learn.

Disclaimer

The American Precious Metals Exchange, Inc. (A PMEX)is not a registered investment advisor. Readers are advised that the material contained herein should be used solely for informational purposes. It is not the intention of APMEX to tell or suggest which precious metals investments members or readers should buy or sell for themselves. Site users should always conduct their own research and due diligence and obtain professional advice before making any investment decision. APMEX will not be liable for any loss or damage caused by a reader’s reliance on information obtained in any of our newsletters,special reports, email correspondence or on our website. Our readers are solely responsible for their own investment decisions.

Any opinions expressed are subject to change without notice. Owners,employees and writers may hold positions in the investments that are discussed in this publication.

[The Economic Survivor has no affiliation with APMEX and does not endorse them in any way]

Bearish Schultz says hyperinflation may happen suddenly

2010-06-13T12:55:00Z

By Peter Brimelow
Market Watch
June 10, 2010

Harry Schultz' International Harry Schultz Letter was one of 2009's top10 performers because it ran with the rally. (See Dec. 28, 2009, column.) And I named it Letter of the Year for 2008because it undeniably did predict the crash, although by Hulbert Financial Digest count it didn't benefit, for various technical reasons.(See Dec. 28, 2008, column.)

Despite 2008, IHSL's longer-term record remains strong. Over the past five years, the letter has achieved an 11.39% annualized gain, vs. 1.02%annualized for the dividend-reinvested Wilshire 5000 Total Stock Market Index. Over the past 10 years, it has achieved a 6.12% annualized gain,vs. 0.22% annualized for the total return Wilshire.

Schultz specialized in grand theorizing, and his current Big Idea, based on pure intuition as far as I can see, is that stocks and the economy will head down, then up, in two 10-years swings, complicated by counter-trend rallies like that of 2009-10.

He writes in his most recent issue: "Remember my now-classic 20-year multi-faceted buying power 'V' formation? It's proven its worth so far.It's most unlikely to be totally prescient, but may be largely correct.Some thought, briefly, after the recent 12-month stock market rally and a few green shoots, that the 'V' would be broken. But things have returned to the pattern as so many events have occurred (including Greek financial explosion) -- which signal a fresh downtrend all round.Theoretically, not until 2017-2018 does the downward part of my 'V' end,and begin a positive, upbeat 10-year uptrend working back to where we were in 2007 ... reaching that level in 2028. We'll see. At least,you'll see. Maybe not me."

Read the full article here.

7 Common Mistakes of Precious Metals Investing and How To Avoid Them – Part 2

2010-06-12T15:12:00Z

Common Mistake #2 – Flip-flopping

Another common problem that investors face is a lack of vision. This often goes hand in hand with impatience. Investors, by nature, want a return on their investments (gold or silver,for example) and they typically want it quickly. Individuals may feel that if a particular strategy isn’t yielding strong enough returns,there must be something wrong with the strategy.

Investors will spend years chasing after the next big thing, often believing that this strategy is “the one.” When that particular strategy doesn’t yield the results they were looking for, the common response by investors is to blame the strategy and to quickly adopt another. They don’t realize that the problem most often lies within themselves and not with a given strategy or tactic.

Again, step back.

Give the strategy some time. We can’t stress enough that precious metals investments should be long-term holdings. Success in this game is not something that can be accurately measured in weeks or months. This is a long-term commitment. Budget your time, energy and capital wisely.

Disclaimer

The American Precious Metals Exchange, Inc. (A PMEX)is not a registered investment advisor. Readers are advised that the material contained herein should be used solely for informational purposes. It is not the intention of APMEX to tell or suggest which precious metals investments members or readers should buy or sell for themselves. Site users should always conduct their own research and due diligence and obtain professional advice before making any investment decision. APMEX will not be liable for any loss or damage caused by a reader’s reliance on information obtained in any of our newsletters,special reports, email correspondence or on our website. Our readers are solely responsible for their own investment decisions.

The information contained herein does not constitute a representation by the publisher or a solicitation for the purchase or sale of investments. Our opinions and analyses are based on sources believed to be reliable and are written in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. All information contained in our publications or on our website should be independently verified with the companies mentioned.The editor and publisher are not responsible for errors or omissions.

Any opinions expressed are subject to change without notice. Owners,employees and writers may hold positions in the investments that are discussed in this publication.

[The Economic Survivor has no affiliation with APMEX and does not endorse them in any way]

Cash and Bonds Will Be Very Dangerous: Marc Faber

2010-06-12T14:53:00Z

"Investor Marc Faber said cash and bonds will be 'very dangerous' in the next 10 years as governments increase money supply to cover fiscal deficits," according to Michael A. Cornfield . "'There’s no other way out but to print money,' Faber, the publisher of the Gloom, Boom & Doom report, said at a forum in Seoul on Wednesday. 'In the long run, all paper money will go exactly to its intrinsic value, which is zero.' Faber advised investors to protect themselves with assets such as gold and silver."

Read the full article here .

HT: LRC