Michael Panzner

Quote For The Week

Back in the early to mid-2000s I encountered a number of “crash prophets” while trying to figure out where the U.S. economy was heading. One of these was Michael Panzner, a 25-year veteran of the global stock, bond, and currency markets who worked in New York and London for HSBC, Soros Funds, ABN Amro, Dresdner Bank, and J.P. Morgan Chase. He’s also a New York Institute of Finance faculty member and has written a number of books including When Giants Fall: An Economic Roadmap for the End of the American Era and Financial Armageddon, Revised And Updated Edition: Protect Your Future from Economic Collapse. In a March 24 post on his Financial Armageddon blog, Panzner looked at the disconnect between what Americans believe is happening with the economy and what is actually going on. He wrote:

As it happens, this current disconnect may represent one last opportunity for those who haven’t been taken in by all the delusions and chicanery to get their affairs in order. While I don’t believe there’s any way to stop the coming train wreck, there may be ways to capitalize on that knowledge.

That might mean selling or swapping risky assets, which is somewhat easier when prices are artificially inflated by low rates and high expectations (house prices, unfortunately, are a bit of an exception, though I and others like my friend Charles Hugh Smith believe that if you can sell now, it’s still a good idea).

It might also mean paying down or restructuring debt to take advantage of today’s unrealistically low rates and appetite for risky assets. And, finally, for those who are in a position to do so, it might make sense to line up whatever job or freelance work you can find with firms that are anxious to secure staff in anticipation of a “boom.”

Whatever the case, now is probably not the time to be thinking that Financial Armageddon is history.

Panzner isn’t the only one who senses this disconnect. In his blog The Great Depression of 2006, “Jim in San Marcos” busted out this doozy the other weekend:

I’m thinking of discontinuing the newspaper, not much in it any more. The depression is over, we’ve licked inflation, the national debt is no longer a problem and stocks are bouncing off of new highs.

Tags: , ,

Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

This Project Dedicated to St. Jude
Patron Saint of Desperate Situations

Please Rate this Blog HERE


Advertising Disclosure here. "Code Needed"=Promo Code Found On Advertiser Website. Ad Captions Last Updated 7/20/16.
Blade HQ Knives New! Blade HQ Reviewed HERE.
Buy Gold And Silver Coins Silver Rounds 69¢ Over Spot Any Quantity; Secondary Market 100 Oz. Silver Bars 39¢ Over Spot Per Troy Oz., Any Quantity, Free Shipping. BGASC Reviewed HERE.
BullionVault World's Largest Online Investment Gold Service & Part-Owned By World Gold Council. BullionVault.com Reviewed HERE.
Free 4-Week Emergency Food Kit w/ 3-Month Emergency Food Supply; Big Savings On "Deal Of The Day" Page. MyPatriotSupply.com Reviewed HERE.
Survival Titles Save 20% Bladed Weapons, Combat, Firearms, Martial Arts, Military, Police, Preparedness, Self-Defense, Shooting, Survival Titles. Paladin Press Reviewed HERE.
World's First Bulletproof Baseball Cap Only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) Only $169; Bulletproof Backpack/Messenger Bag Panel Only $99. BulletSafe Reviewed HERE.



Prepper Website

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

  • Related Reading: Strong Demand In Germany For Safe Deposit Boxes
    Back in March and May of this year I blogged about Germans looking to safe deposit boxes to preserve their wealth in a negative interest rate environment. Tuesday night I came across a related article by The Sovereign Society’s editorial director JL Yastine on the Sovereign Investor Daily website. Discussing the subject of negative rates, […]
  • Related Reading: Gold Popular With British Post Brexit
    Earlier today I came across an interesting article on Reuters.com about the popularity of physical gold with British citizens in the wake of the historic “Brexit” vote. Clara Denina reported this morning: Dealers are seeing an unprecedented amount of interest in gold, much of it from first-time buyers, to take advantage of its role as […]
  • Related Reading: Japanese Gold Owners Look To Switzerland For Storage, Protection
    Switzerland still has significant appeal for Asians who own gold. Masumi Suga and Ichiro Suzuki reported on the Bloomberg website July 7: Japanese investors are buying gold to store in Switzerland because of negative interest rates and fears the yen will depreciate as the government grapples with the heaviest public debt burden in the developed […]
  • Related Reading: A Visit To Baoku Treasury, The World’s Largest Private, Non-Bank Safe Deposit Box Facility
    Back on May 18, I blogged about the recent opening of Baoku Treasury, the world’s largest private, non-bank safe deposit box facility. I haven’t come across that much material about the Shanghai, China, private vault in my research, so it was with great pleasure that I spotted an article about Baoku on the Sixth Tone […]
  • Related Reading: Robert W. Wood’s ‘Reporting Cash, Gold And Safety Deposit Boxes On FBARs?’
    Tonight I happened to read an article published on the Forbes website last Thursday entitled “Reporting Cash, Gold And Safety Deposit Boxes On FBARs?” The contributing author was Robert W. Wood, a San Francisco, California-based tax lawyer. It’s an insightful read on a complicated subject, where even Wood noted: Filing without thinking carefully about such […]