What if the last few years was just the eye of the storm passing overhead and like all good hurricanes, we’ve got the other half to deal with…I mean, there’s been an enormous amount of money printing, a slight uptick in the economy that everyone desperately labelled a recovery and…now what?
Not to get all hyperbolic and end-of-the-worldy on you, but in case you haven’t noticed…Dodd-Frank hasn’t been implemented. None of the dangers that existed prior to the financial meltdown of 2008 have been remedied. The too big to fail banks are even bigger and more likely than ever to need a bailout. The unregulated derivatives market bass grow to untold trillions, (with a “T” trillions) and most of the derivatives (about 70%) are held by the five largest banks.
In fact, compared to four years ago, the world economy is more fragile. Greece, Spain, Portugal and Ireland are all teetering on the brink or deep in insolvency, however inconsequential their tiny GDPs may appear. They are linked, as are all banks, to every other bank through synthetic investment vehicles, derivatives, credit default swaps and a host of other financial entanglements. There is actually no country that won’t suffer in the next crisis. Again.
So this is why I’m trying to convince people to buy gold. Or sell your old gold jewelry and convert to something more fungible like small gold coins, or silver coins for…well, just because the dollar isn’t worth much anymore…and when the financial collapse comes…and the money borrowing merry go round comes to a stop, or the Greek bank run comes…you’ll be wishing you’d had some money in gold.
Houston Gold Merchants 832 259 7225 in Houston, TX
www.houstongoldmerchants.com
