(Editor’s Note: We do not offer financial advice but our resident financial guru, Thom Beecham, has been remarkably prescient. Proceed at your own risk. )
Thomas Beecham — henrymakow.com June 20, 2013
It is happening fast now. The rest of the other markets to come later, as interest rates keep spiking. There is not enough liquidity to go around and what we will witness over the next several months and couple years will be “sobering.”
Bernanke says he’s puzzled by the long term rate rise. Done by design? You betcha.
The economy and the people will be like a pond full of fish and as the water dries up watch for the action to get ugly as they fight for the last breath.
Will real estate hold up? it won’t for the average guy, who just went back into debt again.
As for me, I had my second best day ever overnight. That means just staying ahead of the drop in my gold.
I had a friend who asked me a month ago how to make $10,000 easy to pay for a European vacation next year. I told her to sell one gold contract (for 100 oz) and when gold drops another $100/oz. to take the profit ($10,000) and run.
I never heard from her again about that particular matter. Had she listened, she would have covered overnight and taken her money.
Where will the Feds get the money to payfor their deficit spending? My guess is from the federal pension plans. They have to get it from somewhere.