There is a large amount of evidence that indicates to me we have seen the biggest transfer of wealth from one socioeconomic class to another since the 1930's. Big banks and people who run and own them have literally stolen a huge portion of the world's wealth and transferred to themselves. This has created the largest debt creation machine for governments ever seen. I thought war was the way debt was created. Well it still is, but the transfer of bad debt from large banks directly to public treasuries was over the top. Frankly this disturbs me to the core.
I know, I know it wasn't their fault. There was no big conspiracy to defraud half the freaking planet. It was all just a heard mentality run amok right? Greed got the better of people. A bunch of Americans took on too much debt bought houses to big for their wallets, and banks forgot to make sure they gave loans to people with good credit.
I call shenanigans! I don't believe that crap for a second. So here a few tips to take to heart when thinking about how to protect your hard earned wealth from the "den of vipers" that needs a bit of routing out. (Did you like that...? My little tip of the hat to Andrew Jackson there)
Rules for not Sucking and Preserving Your Wealth
- Don't listen to the Mainstream Media (a.k.a. Fox Business, CNBC, Wall Street Journal, Etc.)
- Listen, but don't abide
- You know how it goes (don't believe everything you read - or see on TV for that matter)
- Do your own homework - The internet is full of awesome
- ZeroHedge.com - Best unbiased news available for financial markets
- My personal favorite - And how can you not like some named Tyler Durden
- Be objective and think long term
- Make sure you can move your wealth from one asset class, or currency to another quickly
- If realy bad inflationary times hit this could save your wealth from ruin
- Forex accounts are a great way to do that
- If they offer silver or gold options even better
- Don't put all your wealth in stocks, bonds, cash, or precious metals
- Mix it up a bit and you will be much better off
Good luck, we are all going to need it.