|
Imagine a gang of
criminals breaking into your home, stealing your most valuable possessions,
and then going on national TV claiming it was for your own good...
How Would You
Feel?
My guess is that you would be pretty angry. Yet this is
essentially what our central bankers and political leadership are doing
right now.
Recently, at a picturesque resort in beautiful Wyoming, Fed
chairman Ben Bernanke met with his global counterparts, including
Bank of England's Mervyn King, the ECB's Jean-Claude Trichet,
and Masaaki Shirakawa of the Bank of Japan.
The financial world was attentively looking for indications
of what these men are planning after having exhausted every monetary
policy tool at their disposal.
These bankers have collectively printed TRILLIONS of
currency units, purchased unprecedented amounts of government debt, given
handouts to commercial banks, slashed interest rates to record lows, and
taken risky assets onto their ever-expanding balance sheets.
If you're serious about
discovering strategies and information about how to THRIVE and PROSPER in
the Age of Turmoil,
regardless of how many trillions are printed, I invite you to join
Sovereign Man: Confidential where I show you exactly how to take the
most important steps for building and preserving your wealth and
protecting the privacy of yourself and your loved ones.
And how have these historic efforts
fared?
Poorly. Aside from a few outliers, economic
data in the developed world is anemic at best. There has been little
recovery in the jobs and housing markets, and the debt crises have grown
worse.
Look, I'll be the first to tell you that there are GREAT
OPPORTUNITIES and GOOD NEWS stories around the world; unfortunately,
millions of people are having their lives and livelihoods turned upside
down whilst Bernanke and his friends toasted themselves to expensive
champagne at a luxury resort.
Politicians, meanwhile, are flying around the world on their
government jets, praising themselves in front of voters and trying to
convince the taxpayers that stimulus programs are working.
They've spent TRILLIONS of dollars over the last few years
with little result. The ultimate consequence is more debt with little
benefit to show for it.
Despite printing
and spending trillions of dollars, the world is still faced with the same
financial conditions as when this crisis started: huge government debt,
and lack of credit availability in the private sector.
And so... what is their solution now?
Continue cutting interest
rates, spending trillions of dollars, and printing trillions more.
Full stop. Something is wrong with this picture.
The first thing that comes to mind is the definition of
insanity: "doing the same thing over and over again, but expecting a
different result." This is exactly what's happening
now.
Then again, how do you cut interest rates that are already
at zero? How much more money do you print when you have already printed
trillions of it? How much more do you spend when the deficit is already
beyond $2 trillion?
At some point,
even the most insane individual has to question this logic.
A Sure-Fire Way to Lose Wealth...
The crazed decisions of our
financial and political leadership have a significant impact on our
hard-earned savings... and entrusting our capital to a corrupt system of
incompetent bureaucrats is a sure-fire way to lose it.
As we enter the Age of Turmoil, the risks to
our capital are only going to increase. The way out, the way to survive
and thrive, is to become self-reliant and reject the limiting options
that have been force-fed by the old system.
Yesterday we talked about defining your reality
as the first pillar of self-reliance. I believe that the
second pillar of self-reliance is capital preservation: maintaining the value
and purchasing power of the savings that we depend on to feed our
families.
In the past, loose
central banking and generous government entitlement programs were part of
the old system that made a lot of people very rich. It generated huge
returns in the market, easy credit for businesses and investors, and a
giant safety net courtesy of the taxpayers.
That system has COLLAPSED!
There are a lot of people who still cling to it, who put
their trust in their governments and central bankers... they'll keep
buying bonds, CD's, etc., and they're going to have their lives turned
upside down.
Over the next 10-years as the Age of Turmoil
rages on, you can absolutely bet on things like rising taxes, capital
controls, further erosion of financial privacy, increased regulation, and
negative real returns.
Perhaps most importantly, there's a major debate in finance
right now among various camps who are arguing whether we will see
significant inflation, deflation, both, or neither.
Wherever you stand on the issue, I would suggest asking
yourself one simple question: Will the paper currencies of the largest
debtor nations in history continue to be reasonable stores of value in
the long-term?
A Complete Loss of Confidence is Coming...
...and this will have catastrophic effects on your savings
if it is trapped in a debtor nation's fiat currency.
Fundamentally, finding suitable alternatives to preserve
capital is one of the ways that the self-reliant individual can survive
and thrive in the Age of Turmoil.
This includes things like foreign bank accounts, alternative
and productive assets, offshore gold storage, high yield financial
assets, foreign currencies, etc.
In Sovereign Man: Confidential, I provide a
lot of actionable information about these sorts of ideas; to give you an
example, here's a quote from one edition:
"The reason I like this option so much is because it
kills two birds with one stone - you're well on your way to acquiring
second citizenship, and you're also moving some money overseas. These are
two of the most important flags you could ever plant. To get started, get
in touch with my contact:"
Until tomorrow,
Simon Black
Senior Editor, SovereignMan.com
P.S. When people lose confidence and the system falters and
fails people whose
realities are defined by limiting choices will have their lives turned
upside down.
The way out, the way to survive and thrive in this turmoil,
is to reject limiting choices and define your own reality through what I
call universal choice. In fact, I consider "defining your reality" to be the
first pillar in achieving self-reliance in the Age of Turmoil.
To define your own reality visit: Learn More About
Sovereign Man: Confidential
|
No comments:
Post a Comment