Posted on 02/23/2010 6:13:51 PM PST by jsh3180
The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.
The bleak warning of social and financial meltdown, delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers.
Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom.
Speaking today, Dr Faber said that investors, who control billions of dollars of assets, should start considering the effects of more disruptive events than mere market volatility.
“The next war will be a dirty war,” he told fund managers: time frame.
(Excerpt) Read more at business.timesonline.co.uk ...
>>As long as women like shiny things and men like what women have, someone will buy it.
Which implies that if you're a woman, don't bother stocking up on gold. ≤]B^)
50mm
We have a 7 acre plot and my FIL has 28 acres hubby is the only heir.
Without stockpiling food yes you will.
So I've been looking at things such as the above to use as currency. The heck with gold. If you can't eat it, wear it, roof a house with it, or keep warm with it....it has no value.
Maybe a woman who's goods are past expiration date might bother.
Gold doesn't have a "good until" date that I've been able to find.
YEP...I’m with you....I was looking around the house considering taking some things to goodwill or giving them away....and then...thought....some of those items could turn out real handy for bartering!
Got my little piece of land all paid for. Not a farm size place, but we can grow a nice garden and keep a few animals if needed.
Stocked up on ammo and guns and looking for more. Will always be able to trade some of them for something. As for gold, you can’t eat it, can’t use it for shelter, or wear it for clothes, so why bother.
Katrina should have been a wake up call as to what will happen when the welfare class discovers “Uncle Sam ain’t there no more” to give them everything. The cities will burn and then the ash and trash will flow from the cities looking to take what they want.
I submit that a place with rampant starvation and the entire population is in the same straits will be such a place. Gold is only valuable when there is surplus. The US will probably not ever get to the first condition...but the worse off it gets the longer one will probably have to look to find a "buyer" for the gold. I do agree that it is likely the only thing that is going to retain value monetary wise, however.
If I have lead....I can get gold!
Please, you really think something unique is going to appear now, that hasn’t in 5000 years of human history? Ther is ALWAYS someone willing to trade for gold. Always.
In my case it's a moot issue anyway as I don't have enough money to worry about buying gold.
And I'm not trying to talk you out of buying and trusting in gold...that really is fine with me. You are probably correct, but given the choice between a stock of food supplies or a stack of gold coins...I'll go for the food.
As an aside, I don't know if you ever saw the series Jeremiah or not...I'm sure there are plenty of issues people would take exception to as to the "reality" of the show, but I thought it interesting that one of the primary barter items was canned goods.
brass and blued steel
Gardening is hard work. Hard doesn’t mean impossible, though. It does make you wonder how easily those Americans of the 18th and 19th centuries could have kicked our ass if it ever came to a fight. That hard work would have made them lean and tough.
Real easy.
The world is not falling apart, the economy is only contracting a few years.
China will have a serious problem, not the United States:
http://www.businessinsider.com/stratfor-predictions-for-the-next-decade-2010-1
You understand - glad you’re here.
You get it, tumblindice. Thanks for sharing.
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