Friday, July 29, 2011
Austerity Program III
Immanent Market Drop of 50% or More!
Within the next two to three months, our markets will fall drastically! That is how I read the 15 or so market gurus I subscribe to yearly. Virtually every one of them claims to have predicted the last few market drops well in advance, and I can certify that 5 of them did. They are all pessimistic about the US economy, regardless of the actions Congress and the President take now.
As a result, I have divested myself of all bonds and stocks except gold and silver, and one favorite energy stock, DOM (Dominion Virginia Power). I have a strong tax free cash position built up that will allow me to start buying when the signals indicate a favorable uptrend sometime in 2012 or 2013. In addition, I have taken a major position in gold bullion held in a vault with my name on it in Switzerland.
This post is to inform everyone of my thinking and my actions to prepare my portfolio for the worst, in the hope that others can benefit from it.