I am not a gloom and doom type but I do believe in being prepared and I also don’t believe in just letting your money sit and wait in mutual funds and stocks when a clear bad time is on the way. If I were you and I had my money in conventional US Stocks I would get out and do it now.
How bad is it really? I invite you to listen to this interview on the Glenn Beck show with Comptroller General David Walker. This should scare the hell out of you. You will learn how bad the pending social security nightmare really is. Honestly we are “bankrupt” as a nation.
If you add this to the mortgage problems and our other weaknesses we are in real trouble.
So where would I put my money or more accurately where is my money going?
- First I am putting a good chunk into 2 year Australian Bonds at a guaranteed rate of 7.5% plus any gains as the dollar further weakens.
- Second Gold is a good hedge that has done very well, I will buy more and my only regret is that I did not buy more in the past.
- Third hold cash and possibly in the form or foreign currency such as in a United Kingdom or Canadian bank perhaps even buy bonds in some other forigne markets. Right not as I mentioned above Australia, New Zealand, Canada and the UK are all in great shape financially.
I don’t want to sound un American here at all but the simple fact is we are in over our heads for more then 58 trillion dollars and we have zero. Again listen to the interview with David Walker, this man has no political axe to grind and he is the chief accountant for the United States government. His message is simple, we are out of money.
So my advice is protect your hard earned dollars by converting them into something other then dollars. Perhaps not all of them but pick a percentage and diversify before this bad problem gets a lot worse.
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