Let me see if I understand, people are depressed about a coming economic recession so they panic sell everything in exchange for… cash? That may be a natural instinctive response but it makes no sense in an inflationary cycle, especially when a stimulus package is on the way from Congress and the Fed has promised deep rate cuts. Why the hell would you hold US dollars when inflation is higher than it’s been in decades?
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It’s ironic how the nutcases pushing an actively hegemonic American foreign policy in the name of preserving American power will ultimately be responsible for destroying it. The ineffectiveness of central planners, whether they be in government or in central banks, to tame foreign nations or calm unnerved markets is evidence the elite are losing control. Insiders readily admit nobody has a clue how to handle this colossal shift of power.
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Everyone should invest their money, the last thing you want to do in an inflationary cycle is depend on cash as a store of value. But if you’re not prepared to work hard than you should leave decisions up to someone else. I would recommend periodically seeking advice from an educated friend or family member to keep you on track – but verify with a few sources, relying on people who have little knowledge but sound authoritative can get you in trouble. Stock brokers are generally useless, their only function is to deliberately complicate the entire process and intimidate you into feeling as though you need them.
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I’m getting tired of reading doomsday posts by people who really don’t have a clue. Many corporations, including financial institutions, will find themselves in serious trouble but the entire world will not return to a barter society anytime soon.
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In early July of 2007, before the August panic, I sold everything and went 100% cash in several currencies. I held on to my cash for many months while studiously trying to figure out how the sub-prime fiasco would pan out and how the Federal Reserve would respond. I finally figured it out.
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This is possibly the most fascinating documentary I’ve seen in years, the implications of which will keep me busy thinking and studying for years.
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The problem is simple and the solution is obvious, but there will never be peace.
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The Wall Street Journal is reporting that Prince Alwaleed Bin Talal, the subject of Rudy’s scorn at last week’s New Hampshire debate, is about to invest billions more in struggling Citigroup, no thanks to Rudy of course. While it’s not a positive sign for America that foreigners are beginning to seize their assets, it does show a commitment by the Saudi Prince to saving America’s largest financial institution. Would you invest billions of dollars in a country you are trying to destroy? I didn’t think so.
This commentary is not about the Federal Reserve, it’s about central banks in other regions that are following the Federal Reserve down a path to self destruction. Foreign central banks are deliberately inflating their own currencies along with the Federal Reserve, against the best interest of their citizens, in a vain attempt to help Americans move beyond the consequences of their own irresponsibility.
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This was the highlight of last night’s debate, for me.
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