Federal Reserve

Project Prepper, Part 45: Top 3 Threat Priorities

“As a result of my research and this blog, I’m now aware of the myriad of man-made and naturally-occurring threats to my life and lifestyle (and those of my loved ones), and think it’s probably wise to acquaint myself more with ‘prepping’ via a sustained ‘hands-on’ program of learning and doing, which I’ll call ‘Project Prepper.’

Through a series of posts on this blog which I suspect should last for quite some time (years?), I’ll be able to share my preparedness experiences with you…”

Survival And Prosperity, “Project Prepper, Part 1: It Begins,” October 24, 2012

This week’s “Project Prepper” post is going to be a little different. While I’m currently working on a number of projects related to fulfilling seven “innate survival needs” (hat tip Jack Spirko @ The Survival Podcast):

1. Physical Security
2. Financial Security
3. Water
4. Food
5. Sanitation and Health
6. Energy
7. Shelter

Today I’m going to talk about threat priorities. As a forty-something homeowner residing with my girlfriend in the suburbs of Chicago, Illinois, in 2016, “I’m now aware of the myriad of man-made and naturally-occurring threats to my life and lifestyle (and those of my loved ones).” Regular readers of Survival And Prosperity know I blog about them frequently. But from my vantage point, here are the “top 3” I’m mostly concerned about:

1. Severe Weather
2. Financial Crisis
3. Terrorism

Concerning severe weather, here in the Chicagoland area residents have to contend with spring and summer storms that can consist of high winds, torrential rain, flooding, and tornadoes. Winter can bring along with it ice storms (not too often), significant snowfall/blizzards, and brutally-cold temperatures. Consequently, structural damage, utility outages, hazardous travel conditions, and other threats to life and property accompany such events.

Case in point, prior to my girlfriend and I moving into our house in 2013, a large part of the Chicago metro area suffered significant damage from a “derecho” (widespread, long-lived wind storm) event that left many area homeowners without electricity for several days. A real nuisance for most of those affected, but potentially deadly to those with serious health issues- like my elderly father. And in case readers think I’m talking about those far-off “suburbs” of Chicago here (I remember one real estate agent referring to Rochelle- approximately 80 miles west of Chicago- as a “western suburb” during the housing boom last decade), these extended outages were taking place in near “North Shore” enclaves. I remember watching one furious Northbrook homeowner being interviewed on the local televised news, saying how he had been without power for a number of days and couldn’t understand why it hadn’t been restored yet considering the high taxes he paid to live in such a nice area. Anyway, severe weather tops the list for me. Not as “sexy”- as some would say- as preparing for the “Zombie apocalypse,” but oh well.

Financial crisis. Regular readers of Survival And Prosperity and its predecessor know I’ve been on the lookout for coming “tough times” for some years now. From this blog’s “About” page:

Back in 2004 when SP’s creator/editor Christopher Hill was surveying the economic and investment landscape in support of his own investing activities, he concluded from his own research that the United States was heading towards a financial crash. Deciding that this was something other Americans might want to know about, Mr. Hill launched the independent financial blog Boom2Bust.com, “The Most Hated Blog on Wall Street,” on Memorial Day Weekend 2007 with the purpose of warning and educating others about the approaching U.S. economic crash. He has been credited with calling last decade’s housing bubble and subsequent bust, the 2008 global economic crisis, and the “Great Recession” as a result of his work on this project. Chris wrote over 1,500 posts on Boom2Bust.com during its nearly three-year run, with many of these picked up and republished on the web sites of The Wall Street Journal, Fox Business, Fox News, Reuters, USA Today, the Chicago Sun-Times group, the Austin-American Statesman, the Palm Beach Post, and the West Orlando News, among other media outlets. Chris was also interviewed for a May 2009 MSNBC.com article as a result of his work with the blog.

Since Memorial Day Weekend 2007, I’ve stood by and watched as the bursting of the U.S. housing bubble and subprime mortgage crisis was quickly followed by carnage on Wall Street in the autumn of 2008 and a “Great Recession.” I also observed how the Washington politicians and the Fed responded by “papering up” the mess with massive government and central bank intervention. But as everyone knows, you can only “kick the can down the road” so far. And my concern is that the road is rapidly coming to an end. Visit this blog often enough and you might get that sense as well.

Consequently, I’ve come to believe that the U.S. financial crash I still see headed our way won’t be like an airplane that suffers a sudden, catastrophic failure and plummets back to Earth like a rock. Rather, taking into account the abilities of the federal government and central bank to keep the aircraft aloft for quite some time, the crash may be more akin to a slow- yet-unavoidable descent into the ground. At which point, Americans might be left pondering what had happened to them, just like Argentines did after their economy crapped out in the early 2000s after prosperous times.

Making matters worse is the fact that I still reside in Cook County and Illinois, whose financial troubles are well-publicized. While I’ve left Chicago, I still haven’t made Wisconsin my permanent home address.

When the “balloon goes up” locally and nationally, I suspect everyday living is going to get particularly gritty around these parts.

As terrorism is concerned, post-9/11 I found myself working in the public safety field. As part of my duties at a local fire department, I catalogued potential terrorist targets in the area in the hunt for money to upgrade the agency’s response capabilities. It was my belief that the threat was real then, and it remains so today. Even more so in 2016, as U.S. border security is quite suspect at a time when those who would wish to harm the “homeland” continually make their operational capabilities and future desires for wreaking death and destruction known.


“Border Patrol Admits US Citizenship Doesn’t Matter”
YouTube Video

Like I’ve repeatedly said before on this blog, I believe it’s only a matter of time before the United States suffers terror attacks possibly resembling what occurred in Beslan (Russia) in 2004, Mumbai (India) in 2008, and more recently in Paris and Brussels. And a terrorist strike rivaling or even surpassing the carnage of September 11, 2011, is not out of the question as far as I’m concerned. New jihadists continue to replace their fallen predecessors in this “War on Terror,” and the religious duty of killing “infidels” remains the same. On May 6, 2011, I wrote:

In 2005, Dr. Paul L. Williams, a journalist and author, published the book The Al-Qaeda Connection, in which he discussed plans for a future nuclear terrorist strike, dubbed “American Hiroshima.” He wrote:

Bin Laden asserts that he must kill four million Americans- two million of whom must be children- in order to achieve parity for a litany of “wrongs” committed against the Muslim people by the United States of America. The “wrongs” include the establishment and occupation of military bases between the holy cities of Mecca and Medina in Saudi Arabia, the support of Israel and the suppression of the Palestinian people, the Persian Gulf War and the subsequent economic sanctions, and the invasions of Somalia, Afghanistan, and Iraq…

(Editor’s note: Bold added for emphasis)

These days, the Islamic State has stolen the headlines from Al-Qaeda and other Muslim extremists. But such religious fanaticism as a whole remains a top concern for me.

Severe weather, financial crisis, and terrorism are natural and man-made threats that register the most on my radar. But this doesn’t mean I discount other potential dangers to life and property either (pandemic, severe space weather, and war would probably be the next three on the list). As such, an “all-hazards” approach is emphasized in my “Project Prepper” activities.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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IMF Issues Downward Revision To Global Growth Forecast

From the International Monetary Fund website Tuesday:

Global growth continues, but at a sluggish pace that leaves the world economy more exposed to risks, says the IMF’s latest World Economic Outlook (WEO).

The WEO forecasts global growth at 3.2 percent in 2016 and 3.5 percent in 2017, a downward revision of 0.2 percent and 0.1 percent, respectively, compared with the January 2016 Update (see table).

In a recent speech, IMF Managing Director Christine Lagarde warned that the recovery remains too slow, too fragile, with the risk that persistent low growth can have damaging effects on the social and political fabric of many countries…

“The recovery remains too slow, too fragile”

Funny. That’s not what I’m hearing out of Washington and the mainstream media these days.

The IMF added:

In the United States, expected growth this year is flat at 2.4 percent, with a modest uptick in 2017. Domestic demand will be supported by improving government finances and a stronger housing market that help offset the drag on net exports coming from a strong dollar and weaker manufacturing…

You can read more about the IMF’s latest global growth forecast here on their website.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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James Rickards: Gold Other Money That Renders Central Bank Power ‘Meaningless’

The “Quote For The Week” runner-up. From American investment banker, risk manager, attorney, and financial commentator James Rickards, in a recent interview with Schiff Gold’s Albert K. Lu:

I actually think of gold as money. Money is different from an investment or a commodity, so, is gold a commodity? Is it an investment? Is it money? Well, it depends a little bit. Like a chameleon, it changes color. I think of it as money. But I think that’s why there is such bitter opposition, and so many really canards and made-up stories, anti-gold. These come from the PhDs. Whoever controls money controls the world. You control wealth, you control politics; you control who wins and who loses. It’s a very powerful thing to control.

Who controls money today? The answer is the central banks, and those are all PhDs, they come from MIT, Harvard, Chicago, Stanford, just a really small number of universities. They all know each other. It’s a club. Well, if you were in this PhD club that controls the central banks, you wouldn’t want people to even think about gold. You wouldn’t want them to talk about gold, because gold is the competition. Gold is the other money that can render their power meaningless. And so they perpetuate these myths about gold. Unfortunately, a lot of students, a lot of journalists, a lot of everyday citizens follow the leader, follow these PhDs without ever examining the assumptions…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

Rickard’s new book…

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Quote For The Week

“This is an economy on a solid course. Not a bubble economy. We try carefully to look at evidence of a potential financial instability that might be brewing, and some of the hallmarks of that are clearly-overvalued asset prices, high leverage, rising leverage, and rapid credit growth. We certainly don’t see those imbalances. And so, although interest rates are low and that is something that can encourage reach for yield behavior, I certainly wouldn’t describe this as a bubble economy…”

-Federal Reserve Chair Janet Yellen, speaking at New York City’s International House on April 7, 2015

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Rich Dad Author Robert Kiyosaki: 2016 Market Meltdown ‘Right On Schedule’

The last time I blogged about Robert Kiyosaki, the American entrepreneur, educator, investor, and author of The New York Times best-selling book Rich Dad Poor Dad talked about precious metals in a January 27, 2016, GoldSeek.com Radio interview. From his exchange with host Chris Waltzek:

WALTZEK: People taking a longer-term perspective, picking up some precious metals. You get that diversification. You can sleep a little more soundly at night. And you also know that you’re getting silver at 66 percent off, gold 40-45 percent off the highs. So where’s the risk there?
KIYOSAKI: The risk is not having it. And that’s why I’m laughing about Saturday Night Live and I can’t tell Fox from Saturday Night Live because those guys are a bunch of cartoons up there now. And those are the guys you’re going to count on for your economy? Give me a break. I mean, right now I trust in gold and I trust in silver. I don’t trust the stock market. I don’t trust the Fed. I don’t trust our leaders. I don’t trust the EU to not come apart. You have Puerto Rico in serious trouble. I mean how many other things have you got out there? And you look at the national debt- it’s now $20 trillion. If you want to believe Saturday Night Live characters then you just keep believing. But I’d rather have gold and silver.

The author of the recently-released Second Chance: for Your Money, Your Life and Our World also informed listeners he got out of stocks “fully” last March.

Last week, I spotted a piece about Kiyosaki on MarketWatch.com. Barbara Kollmeyer reported on March 23:

Fourteen years ago, the author of a series of popular personal-finance books predicted that 2016 would bring about the worst market crash in history, damaging the financial dreams of millions of baby boomers just as they started to depend on that money to fund retirement.

Broader U.S. stock markets are recovering from the worst 10-day start to a year on record. But Robert Kiyosaki- who made that 2016 forecast in the 2002 book “Rich Dad’s Prophecy” – says the meltdown is under way, and there’s little investors can do but buy gold or silver and hope the Federal Reserve slows the slide.

Kiyosaki is convinced: The pullback he predicted is happening.

“We’re right on schedule,” he said in a recent interview with MarketWatch…

(Editor’s note: Bold added for emphasis)

Kollmeyer added later:

Kiyosaki told MarketWatch that the combination of demographics and global economic weakness makes the next crash inevitable — but the Fed could stave it off with another round of quantitative easing, which might stimulate the economy…

“The big question [whether] we do ‘QE4,’” said Kiyosaki. “If we do, the stock market will come roaring back, but it’s not rocket science. If we stop printing money, it crashes; if we print money, it goes up. But, eventually, it’s all going to come down.”

(Editor’s note: Bold added for emphasis)

To combat the crash, Kiyoski still places his trust in gold and silver, among other things. From the piece:

He thinks investors should own some gold or silver, based on the view that central banks will just have to print money to get out of the next crisis and precious metals are often deployed as a perceived hedge against inflation. Some investors, meanwhile, might look for investments geared toward income, such as rent payments or dividends, rather than appreciation.

“If you know what you’re doing and are investing for cash flow, baby boomers — or any investors — may see some gains,” he said. “But for those whose wealth is tied up in the [equity] markets, it’s more like gambling than investing.”

(Editor’s note: Bold added for emphasis)

An excellent interview of Kiyosaki by MarketWatch, which you can read in its entirety over on their website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Jim Rogers: ‘I Expect The American Economy To Be In Recession Sometime In The Next Year Or Two

Well-known investor, author, and financial commentator Jim Rogers was recently interviewed by the Nikkei Asian Review (Japan) about the global economy. Assessing its health, the former investing partner of George Soros warned on the Review’s website on March 20:

I am not optimistic about the global economy for the next couple of years. Japan is already in recession, some parts of Europe are suffering, some parts of America are suffering and that’s going to get worse, in my view, because there is nothing to make the world get better.

In America, we’ve had seven years since our last recession. That is unusual because in America, normally every four to seven years, throughout history, we have had an economic slowdown. So it’s overdue. It doesn’t have to end in seven years, but we have many excesses which have taken place in the world economy, caused by very low interest rates. And the American central bank is making many, many mistakes by having interest rates so low and by printing so much money. And then the Japanese central bank and the European Central Bank, and the British central bank, all did the same thing. So we’ve had an artificial situation based on printed money and huge amounts of debt. [The Federal Reserve’s] balance sheet was $800 billion in 2008. Now it is nearly $5 trillion. I expect the American economy to be in recession sometime in the next year or two.

(Editor’s note: Bold added for emphasis)

Survival And Prosperity readers may remember earlier this month I quoted a March 4, 2016, Bloomberg.com piece where it was reported:

The famous investor said that there was a 100 percent probability that the U.S. economy would be in a downturn within one year

(Editor’s note: Bold added for emphasis)

In the short-but-insightful Nikkei Asian Review interview conducted by Hisashi Tsutsui, the Singapore-based Rogers revealed where he would invest given current circumstances, which you can read all about on the publication’s website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Marc Faber: ‘The Most Desirable Currency Will Be Gold, Silver, Platinum, And Palladium’

Swiss-born investment advisor/money manager Marc Faber was on the phone with the CNBC TV show Fast Money last Tuesday. When asked if he is bullish on gold and “is that inherently a call on the U.S. dollar as well?”, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report responded:

Yes. I don’t understand why the world is so enthusiastic about the U.S. dollar. I think in the long run the U.S. dollar will be a weak currency… I think that actually the U.S. dollar, provided the Fed doesn’t cut interest rates again and provided the Fed doesn’t introduce negative interest rates, provided all these conditions, I think the U.S. dollar should be okay. But it’s not a desirable currency. And that’s why I think the most desirable currency will be gold, silver, platinum, and palladium.


“How terror impacts markets: Marc Faber”
CNBC Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; a qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Jim Rogers Interviewed By The Sovereign Society

Earlier this week I finally got the chance to listen to a three-part interview of investor, author, and financial commentator Jim Rogers by The Sovereign Society’s editorial director JL Yastine. Released on The Sovereign Investor Daily website over three days beginning February 9, 2016, their exchange provided significant information about Rogers’ investing views, activity, and strategy going forward. From the Singapore-based investor each day:

February 9

• Revealed he shorted “top” tech stocks
• Discussed outlook for U.S economy
• Implicated Federal Reserve and Washington, D.C., as “culprit” for financial woes, saying:

If you have to have a single culprit- and it’s rare that you can have a single culprit in something like this- it would be the Federal Reserve and Washington, D.C. The Federal Reserve has printed staggering amounts of money. This had interest rates at historic lows. They have never been this low. At the same time, Congress, of course, has spent billions of dollars we don’t have. So with the Fed and Congress running up staggering debts and printing lots of money, we’ve had an artificial situation for eight years now, and we’re going to pay the price. And we’re starting to pay the price now.

• Going forward, the former trading partner of George Soros predicted:

Somewhere along the line, the market will be down 13 percent, 23 percent, you pick the number, the Fed will get a huge number of phone calls saying you’ve got to save the world. These are academics and bureaucrats as you know working for the Federal Reserve- they don’t know what they’re doing. And so they will panic, and they will do something to save us all, whether it’s lower interest rates again, or print more money, or buy more- who knows what they’ll do? They’re going to do something to try to save the markets when the problems come. The markets will rally, the markets will have a nice rally, but that rally will not last, because we’re getting past to the point of no return. There’s not much we can do now given the massive amounts of money that’s been printed.

February 10

• Talked about the U.S. dollar, noting:

I own the dollar. I expect it to go higher. It could well turn into a bubble before it’s over, depending how bad the financial turmoil is.

• Talked about crude oil, revealing:

I don’t see enough panic yet in oil for me to step in. It does seem to be making a complicated bottom.

• Discussed China, saying:

I stopped buying stocks anywhere in the world last August… I see horrible problems in the world’s financial markets for a couple of years, so I’ not buying anywhere, including China…

I do own renminbi… and if it goes down a lot, I hope I’m smart enough to buy more.

• Shared thoughts on gold, insisting:

I’m not a mystic about gold. In my view gold is nothing more than another asset that can be bought and sold. I do own it. I hedged some of my gold about the time I spoke to you. But if it goes down more, I hope I’m smart enough to buy more.

February 11

• Shared an “endgame” forecast:

It’s not going to end very nicely at all… It’s going to end very badly, for all of us. We had our financial problem in 2008 because of debt. Well, the debt now is much, much, much higher than then. The Federal Reserve alone balance sheet is up 600 percent in eight years. So the debt is skyrocketing everywhere. It’s going to end badly. The next financial crisis we have, or semi-crisis, is going to be worse than 2008 in most parts of the world.

• Shared expectations of how the markets will play out, saying:

What I expect to happen is, the U.S. dollar is going to go higher. Gold will go lower. Markets will go lower. At some point, like I said, the dollar will get overpriced, maybe even a bubble. At which point I hope I’m smart enough to sell my U.S. dollars. Gold often goes down when the dollar goes up. So the dollar will be up, gold will be down, and I will say “A-ha! I’m going to sell my dollars now and buy gold.” But it might be something else. It might be renminbi. If the renmibi’s down, and the renminbi’s convertible by then, then maybe I will buy renminbi when I get out of my dollars. Gold, in my view, will probably wind up in a bubble before this is over. But in the meantime I’m waiting to buy it lower, because the bubble is maybe a few years away.

• Gave advice for protecting wealth in “the coming hard times”

On that last bullet point, since I don’t want to steal The Sovereign Society’s thunder, head on over to the corresponding links to watch the entire interview. Great stuff.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; a qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Marc Faber Shares Investment Strategy To Combat The ‘Mad Professors’

Despite being out of the loop for a week due to the flu, I see the “crash prophets” are still running at full-throttle. I just got finished listening to an interview of Swiss-born investment advisor/money manager Marc Faber that was released on the King World News- Broadcast February 20. When asked by Eric King about his thoughts on gold, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report told listeners:

In this environment, you just don’t know how far the mad professors will go. Looking forward, we all don’t know how the world will look like in five years’ time, ten years’ time. I would hold some real estate. I would hold some stocks. I would hold some bonds and cash. And some precious metals. I happen to believe that the precious metals have probably bottomed out, but I cannot send you a guarantee for that. I don’t know, for sure.

“Dr. Doom,” as the financial news media likes to call him, added this prediction for 2016:

I believe the stock markets around the world will end the year lower. But it will depend on how much money the central bankers will print.

On February 18, Lucy Meakin, Ranheetha Pakiam, and Eddie Van Der Walt reported on the Bloomberg website:

“Leave a million dollars with a bank, and in a year, you get only something like $990,000 back,” Marc Faber, the publisher of the Gloom, Boom & Doom Report, said by phone. “I would rather want to own some solid currency, in other words gold.”

Dr. Faber talked more about the yellow metal- and his outlook for the U.S. economy and equities. From the piece:

It’s more tempting to own a non-yielding asset such as gold when returns on other investments are hard to find, according to Faber. He said in December that the U.S. is at the start of a recession and its stocks would fall this year.

Getting back to that King World News show, Faber also directed listeners of explore a particular type of stock (13:15) and area of real estate (18:58) to counter the “mad professors.” A good interview, which you can listen to in its entirety here on the King World News website.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; a qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

Source:

Meakin, Lucy, Pakiam, Ranjeetha, Van Der Walt, Eddie. “Gold Bulls Feast as More Central Banks Drive Rates Below Zero.” Bloomberg. 18 Feb. 2016. (http://www.bloomberg.com/news/articles/2016-02-19/gold-bulls-feast-as-more-central-banks-drive-rates-below-zero). 22 Feb. 2016.

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Rich Dad Author Robert Kiyosaki: ‘Right Now, I Trust In Gold And I Trust In Silver’

When I last blogged about Robert Kiyosaki on July 26, 2015, the American entrepreneur, educator, investor, and author of The New York Times best-selling book Rich Dad Poor Dad was bullish on gold and silver. Kiyosaki recently made an appearance on GoldSeek.com Radio, and in the January 27, 2016, broadcast, the real estate guru reaffirmed his “trust” in precious metals. From the exchange with host Chris Waltzek:

WALTZEK: People taking a longer-term perspective, picking up some precious metals. You get that diversification. You can sleep a little more soundly at night. And you also know that you’re getting silver at 66 percent off, gold 40-45 percent off the highs. So where’s the risk there?
KIYOSAKI: The risk is not having it. And that’s why I’m laughing about Saturday Night Live and I can’t tell Fox from Saturday Night Live because those guys are a bunch of cartoons up there now. And those are the guys you’re going to count on for your economy? Give me a break. I mean, right now I trust in gold and I trust in silver. I don’t trust the stock market. I don’t trust the Fed. I don’t trust our leaders. I don’t trust the EU to not come apart. You have Puerto Rico in serious trouble. I mean how many other things have you got out there? And you look at the national debt- it’s now $20 trillion. If you want to believe Saturday Night Live characters then you just keep believing. But I’d rather have gold and silver.


“GSR interviews ROBERT KIYOSAKI – Jan 27, 2016 Nugget”
YouTube Video

The author of the recently-released Second Chance: for Your Money, Your Life and Our World also informed listeners he got out of stocks “fully” last March.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

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Survival And Prosperity
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Christopher E. Hill, Editor

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RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Spring Break
    I will be on my “spring break” from blogging on Offshore Safe Deposit Boxes after publishing this post. New material will appear again on the blog starting Monday, May 2. Thanks, Christopher E. Hill Editor
  • Ecuador President Announces One-Time Tax On Millionaires, Workers After Earthquake
    From an Associated Press article on the Fox News Latino website Thursday: President Rafael Correa announced Wednesday night that he is raising sales taxes and will charge a one-time levy on millionaires to rebuild cities devastated by Ecuador’s worst earthquake in decades… Using authority granted by the state of emergency he declared after Saturday night’s […]
  • The Safe House In Singapore
    More safe deposit box news out of Singapore. The Middle Ground, a news site covering that part of the world, ran an article back on March 31 about award-winning bullion dealer Silver Bullion and its subsidiary- The Safe House (TSH), a Singapore private, non-bank vault. Ryan Ong wrote: Silver Bullion is a company that owns […]
  • Bank Branches To Suffer ‘Dramatic Decline’ Over Next Decade?
    Have a safe deposit box at a local bank branch? You may be kissing it goodbye in the next couple of years. Niraj Chokshi reported on The Washington Post website Tuesday: That bank branch on the corner — and the one on the way to work — may not be there much longer. As technology […]
  • Degussa Singapore Latest
    Back on November 3, 2015, I blogged about how Degussa, a leading international player in the precious metals world, had just opened its first Asian branch in Singapore. Yesterday, I came across an article on The Edge Markets website about Degussa Singapore. Jeffrey Tan reported: Degussa Singapore is part of an expansion plan driven by […]