The III Percent Mission Statement: Rightful liberty is unobstructed action according to our will
within limits drawn around us by the equal rights of others. ~ Thomas Jefferson
In the absence of orders, go find something Evil and kill it!
Saturday, July 2, 2011
Take the time to read through this post from Zero Hedge. Even if numbers aren't your thing, they have done a good job laying it out for folks like me who have no experience in big, profession money.
Our politicians are left with very few choices, on the surface: Default on chosen programs, print more money and send inflation through the roof, or raise the debt ceiling and borrow more from our enemies.
Professional money guys can find ways to put off the inevitable, as we have seen for years. Most recently we've seen Treasury play games to get us beyond the May 2 X Date.
I am not trading all of my paper dollars for hard assets - yet.
But someday will be the day to do so. Someday, sooner than later, all of the digital dollars you have in the bank will simply cease to exist, and at the same time the buying power of the paper in your pocket will weaken tremendously.
Lead. Food. Those are the proper investments, my friends.
The true X Date is impossible for anyone to pinpoint.
But it will happen in our lifetimes.
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I got rid of a 401k, paid the taxes, and put it into junk silver US coins, and small demonination gold coins, to hedge against inflation. Easy to sell, in small pieces, whenever needed. Many people would gladly trade or barter for such coins in this day and age.ReplyDelete
The 401k had lost money, and the currency was devaluing. Changing it into the hard assets keeps the purchasing power of the dollars traded, for a future time that each individual dollar is that much less--it is not an investment. Gary North has written many good Lewrockwell.com articles on this.
zerohedge is awesome. I read it every day.