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I wish I could say it’s not happening. But it is. Central banks all over the world are now embracing Bernanke’s Friday announcement … and they’re gearing up to print a massive GLOBAL flood of paper money!
• Chicago and Boston Fed Presidents Charles Evans and Eric Rosengren are throwing their hat into the ring, putting more muscle behind Bernanke.
• The normally conservative, European Central Bank President Jean-Claude Trichet is joining in the chorus, calling for more money printing at the ECB, while also extending additional financial assistance to the European Union’s most indebted nations, Greece, Spain, and Portugal.
• The Bank of England is jumping into the fray, acknowledging that it will expand its money printing spree by at least $160 billion.
What Are These Central Bankers Smoking?
Don’t they remember ANY lessons of history?
Don’t they know that devaluing a nation’s currency is an insidious trick that has never created real, lasting wealth?
That it devalues every paper dollar you own? That it threatens your wealth like never before?
Look. If the dollar’s purchasing power falls by say, another 30 percent, what would Dow stocks really be worth … even if they’re selling at higher nominal prices?
And odds are — given how the economy continues to crater — that stocks don’t have much more upside to them anyhow!
So what are you to do? Buy U.S. Treasury bonds? Hardly! Foreign investors in our bond markets are likely to stampede out of those bonds as the dollar loses more and more purchasing power.
How about real estate? A good buy now? Not with the mortgage foreclosure crisis that’s now unfolding! Heck, now millions of households who want to stop mortgage payments while staying in their homes have an excuse to do exactly that: The foreclosure crisis!
The thinking: If banks can break contracts, then so can I!
My recommendation: Wait for a temporary correction in gold, commodities and currencies. Then, look for another round of major buying opportunities in their ETFs and select stocks.
Here’s The Key: In About Two Weeks,
Our Country Faces Two Of The Most
Important Decisions Of Our Lifetime …
First, millions of voters will decide to usher into Congress a new contingent of fiscal conservatives. Whether these newcomers control Congress or not, it’s absolutely clear that it will be almost impossible for Congress to pass expensive new stimulus or bailouts.
Second, come November 3rd — JUST ONE DAY AFTER THE ELECTIONS — the Fed will make an announcement on how much money it plans to print and when, sealing the fate on the U.S. dollar, perhaps for years to come!
All this is why our founder, Martin D. Weiss, has deposited $1,000,000 in a regular brokerage account at Fidelity and why he has hired hedge fund manager Monty Agarwal to call the shots. The approach they use could have transformed that amount in to more than $25,000,000.
Today is the last day this particular presentation will be online.
Best wishes,
Larry
