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Doom Economist’s Asset Protection Strategy: Buy A Machine Gun… and a Tank
When most economists talk about asset diversification they’ll often recommend a portfolio of stocks, bonds and cash.
Marc Faber, however, isn’t your everyday mainstream economist.
Appropriately named Dr. Doom for his past predictions of coming market chaos and global economic destruction, Faber has long recommended a different strategy. From high voltage fences and barbed wire to heavily weighted allocations of precious metals and raw farmland, he’s seen the writing on the wall since before the crash of 2008. He not only warned subscribers of his Gloom Boom & Doom Report to exit financial markets in early 2008, but called for a market rebound on the exact day of its 2009 lows.
Faber is a student of history, economics, and monetary policy, and he has an almost prophetic ability to see what’s coming next.
This week he offered investors and concerned Americans another “buy” recommendation – one that you’ll never hear from your favorite financial adviser or media pundit.
I would have thought that the market on his re-election should have been down at least 50%.
I think Mr. Obama is a disaster for business, is a disaster for the United States. Not that Mr. Romney would be much better, but I think the Republicans understand the problems of excessive debt better than Mr. Obama. who basically doesn’t care about piling up debts. And you also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly.
…
They should buy themselves a machine gun…I need to buy a tank.
…look, we have manipulated markets. Whenever you manipulate markets, you will get unintended consequences.
I think the reelection of Mr. Obama is an unintended consequence of money printing, that favors the so- called, I wouldn’t even call them the 1%, the so-called quarter of a percent. It was easy for the Democrats to attack the wealthy fat cats of Wall Street, the elite, and the privileged people to portray them as a profiteer of the system, which to some extent, they are. Not because they wanted to, but Mr. Bernanke enabled them to be profiteers.
We have a situation where you have today Mr. Obama, I doubt he will stay at the presidency for another four years. I think there will be so many scandals, but that’s another story.
…there is so much smoke, I suppose there is some fire.
Video via Zero Hedge, Financial Survival Network
The train has derailed. It’s flying through the air at 100-plus miles per hour, and there is no way to get it back on the track. When it finally hits the ground it’s going to cause a level of destruction never before seen in our lifetimes.
Faber may be joking about the machine gun, but only a little. He, like many others, understands what happens when financial and economic systems meltdown on a massive scale.
You think Americans digging through the trash scrounging for food after a hurricane is bad? Wait until the devastation spans from coast to coast. Paradigm shifts of this magnitude come with riots, starvation and bloodshed, and you can be guaranteed that if events culminate in this way you’ll wish you had a machine gun.
This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.
2012-11-09 15:44:37
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