“Gold bugs”, and particularly those who advocate investing in rare gold coins, are forever chastised by mainstream investment gurus for their doom and gloom outlook on life. Posted by James Randolph on March 15, 2011
Certified gold coins – an asset out of reach of self serving bureaucracy.
March 15, 2011 – “Gold bugs”, and particularly those who advocate investing in rare gold coins, are forever chastised by mainstream investment gurus for their doom and gloom outlook on life. Doug Casey, a highly respected author, publisher and professional investor, has taken the risk to portray what he sees as the immediate future for America even though it “sounds outrageous and inflammatory and can create a credibility gap.”
“There’s plenty of reason to be concerned about things financial and economic. But I personally believe we haven’t been bearish enough on the eventual social and political fallout from the Greater Depression,” says Casey. “Nothing is certain, but the odds are high that the US is going into a time of troubles at least as bad as any experienced in any advanced country in the last century.”
Casey warns that within the next two years “the dollar bond market … will be devastated by much higher interest rates, a rapidly depreciating dollar, and an epidemic of defaults.” That will hit the property markets hard taking down insurance companies and pension funds with it and “the standard of living of most Americans will fall.”
Citizens of other countries that have experienced similar problems have weathered the storm by sheltering their assets where they were insulated against their failing currencies, but Americans’ blind faith in their government leaves them open to losing everything in their dollar-based assets.
Hit with shortages and disorder Americans will “look to the government to do something,” and the government “will step in massively,” which will “greatly aggravate the crisis and make it last much longer than necessary.” Far more important, turning to the very bureaucracy that created the problem “has every chance of radically, and at least semi-permanently, overturning the basic character of American life.”
Bureaucracies serve themselves first. Our best chance to beat them at their own game is to invest in an asset out of their reach – certified gold coins.
Senior Staff Writer – Certified Gold Exchange