Anti Federalist
10-02-2008, 09:56 PM
Those of you who know me here, know why I would be "out of touch" for the last four weeks or so.
Upon my return, finding my email and voicemail boxes both full of concerned messages from friends, family and fellow shipmates regarding this financial mess, I find I have no other response other than "I told you so just doesn't cut it", especially since some of these same worried folks were scoffers at the whole liberty message of "sound money" and all that phrase implies.
Our own Larry Lepard called it exactly right back in July:
This is not investment advice, it is an opinion.
This message is depressing. I you do not want to contemplate a serious financial downturn stop reading here.
Everyone on this forum is unique and I owe this forum a debt from the assistance they gave me when I wrote the advertisemnts. People on this forum are good people and I want to help if I can.
Don't let this rally in stocks and drop in gold and oil fool you.
It is a sucker's rally.
I have gotten extremely defensive. I have no long stock positions and that is my business!
I buy gold and silver on a regular basis.
I think we are going to have a bank and stock market collapse and I think it is coming soon. (weeks or at most months) I hope I am wrong, but I fear that I am right. There are too many problems coming to a head all at once and the Government will make them worse, rather than propose real solutions.
How did we get here? Think coin in the fuse box, or giving the drunk another drink after he falls down. The natural corrective processes of the market have been blocked. Therefore, a lot of inbalances have built up and now an earthquake of pressure is going to hit us.
The bad news is times will be tough. The good news is a lot of very rich people will be made poor, and perhaps more humble. Related good news is that we and Ron Paul will be proven right, and perhaps we will be listened to in the future.
People who can work will be fine.
Stocks will go down. Way down. The dollar will go down, perhaps to zero. Bonds will be worthless. Most debt will be uncollected. Think the 1930's only worse.
I just put in an order for a Prius. Gas prices will go higher. I bought a bicycle, just in case.
I am cutting expenses mercilessly and raising cash from all sources.
I only have a few debts but I am not paying them off. It will be easier to pay them off in the future with worthless dollars. Of course I have the resources to make the monthly payments and will not lose the underlying assets.
Think dollar worthless. Assets fine after 5-10 years, but in the interim going down in price, so don't lose them. Think essentials going up in price. Food, oil. Think gold and silver going up in price.
I would not have more than $100,000 in one bank. Even that I would be careful on because a bank holiday could close the banks for weeks.
I would not do business with any NY or money center bank. They all have derivative exposure.
I would have some food stored away.
Like I say, I hope I am wrong.
But, an ounce of prevention is worth a pound of cure.
Also, he who panics first panics best. Get out in front of the crowd, panic early.
http://www.ronpaulforums.com/showthread.php?t=147618
Sadly, my own in-laws, who both my wife and I had tried to warn about this impending meltdown, and who both scoffed, have lost just under 100k since July.
So now it goes into the "endgame", where "trash" and over extended debt will be bought up, and more importantly, the underlying "real" assets, your home, my home, our roads, bridges, businesses, the entire structure of the United States, will be bought up and then foreclosed on.
Hyperinflation and complete economic failure, along with a freeze in market liquidity will lead to an eventual merger into a North American Union, with, of course a "new" currency to replace your "old" dollars. Any resistance to this will be met with the heavy hand of the militarized police state put into place over the past ten years or so.
And we told you so...
Upon my return, finding my email and voicemail boxes both full of concerned messages from friends, family and fellow shipmates regarding this financial mess, I find I have no other response other than "I told you so just doesn't cut it", especially since some of these same worried folks were scoffers at the whole liberty message of "sound money" and all that phrase implies.
Our own Larry Lepard called it exactly right back in July:
This is not investment advice, it is an opinion.
This message is depressing. I you do not want to contemplate a serious financial downturn stop reading here.
Everyone on this forum is unique and I owe this forum a debt from the assistance they gave me when I wrote the advertisemnts. People on this forum are good people and I want to help if I can.
Don't let this rally in stocks and drop in gold and oil fool you.
It is a sucker's rally.
I have gotten extremely defensive. I have no long stock positions and that is my business!
I buy gold and silver on a regular basis.
I think we are going to have a bank and stock market collapse and I think it is coming soon. (weeks or at most months) I hope I am wrong, but I fear that I am right. There are too many problems coming to a head all at once and the Government will make them worse, rather than propose real solutions.
How did we get here? Think coin in the fuse box, or giving the drunk another drink after he falls down. The natural corrective processes of the market have been blocked. Therefore, a lot of inbalances have built up and now an earthquake of pressure is going to hit us.
The bad news is times will be tough. The good news is a lot of very rich people will be made poor, and perhaps more humble. Related good news is that we and Ron Paul will be proven right, and perhaps we will be listened to in the future.
People who can work will be fine.
Stocks will go down. Way down. The dollar will go down, perhaps to zero. Bonds will be worthless. Most debt will be uncollected. Think the 1930's only worse.
I just put in an order for a Prius. Gas prices will go higher. I bought a bicycle, just in case.
I am cutting expenses mercilessly and raising cash from all sources.
I only have a few debts but I am not paying them off. It will be easier to pay them off in the future with worthless dollars. Of course I have the resources to make the monthly payments and will not lose the underlying assets.
Think dollar worthless. Assets fine after 5-10 years, but in the interim going down in price, so don't lose them. Think essentials going up in price. Food, oil. Think gold and silver going up in price.
I would not have more than $100,000 in one bank. Even that I would be careful on because a bank holiday could close the banks for weeks.
I would not do business with any NY or money center bank. They all have derivative exposure.
I would have some food stored away.
Like I say, I hope I am wrong.
But, an ounce of prevention is worth a pound of cure.
Also, he who panics first panics best. Get out in front of the crowd, panic early.
http://www.ronpaulforums.com/showthread.php?t=147618
Sadly, my own in-laws, who both my wife and I had tried to warn about this impending meltdown, and who both scoffed, have lost just under 100k since July.
So now it goes into the "endgame", where "trash" and over extended debt will be bought up, and more importantly, the underlying "real" assets, your home, my home, our roads, bridges, businesses, the entire structure of the United States, will be bought up and then foreclosed on.
Hyperinflation and complete economic failure, along with a freeze in market liquidity will lead to an eventual merger into a North American Union, with, of course a "new" currency to replace your "old" dollars. Any resistance to this will be met with the heavy hand of the militarized police state put into place over the past ten years or so.
And we told you so...