This guy writes the blog, "Things that make you go hmmm..." http://www.mauldineconomics.com/ttmygh Presentation is to the The Association of Superannuation Funds of Australia (ASFA) 2013 conference Interesting, some of the guys he quotes who say that the stock market must come undone before long. Even a couple of CEOs like the head of Netflix. Williams himself is unequivocal, the bust is on the horizon and he says get out and into 60% cash, 30% 'synthetic bonds' (not government bonds), and comfortingly, 10% gold. In one or two slides he puts some evidence that wealthy types are switching to cash. Last 5 minutes or so if you want to skip to his conclusions. [youtube]http://www.youtube.com/watch?v=Ab4yqaZ7GAU[/youtube]
29:42 Go to cash! Sure...have cash...have hard assets like silver, gold, land. If you are a Yank...don't have FRN's "fiat" which is printed by The Federal Reserve (FED)...exchange it for coins! Coins are minted by The Treasury. And of course...pre 1965 silver coinage is very good to have (Junk silver). Having said that...you don't want to have your cash in the bank. If you have cash in the bank, you have loaned it to the bank...if t he bank goes broke...you lose. So...a small place you own...with good soil...water and a bumpy mattress to lie on is the way to go. H
Great talk... but Bernanke was not kidding about helicopter drops. I would hate to sitting on a pile of it only to have it fall from the sky
Funny I just finished reading the latest ttmygh article http://www.mauldineconomics.com/ttmygh/pdf/twisted-by-the-pool At the start is a history of how the central banks tried to maintain the gold price at $35 in late 1960s and eventually failed after selling all their gold pool Obviously they have since worked out that manipulation is much easier using the futures market
Is GW any better than John "muddle through economy" Mauldin? Mauldin is about 2-3 years behind most SSers in his understanding of the economy.
Mauldin's weekly newsletter is usually worth a read. If anything GW is closer to a stacker than Mauldin is.
Thanks a lot for posting. Been watching the stock markets and their all time highs, thinking: "Looks good, deceptively good" for a while. Sold out of one bank, looking for a good time for taking profits for the other majors. A satisfying feeling that it's not just stackers who feel that things aren't right.
Clifford Bennett. Well Clifford's still confidently optimistic - there's a surprise. [youtube]http://www.youtube.com/watch?v=TLdDpQZm1R8[/youtube]
Mauldin totally missed what happened regarding the world economy. Don't you remember his muddle through economy prediction for years. He was wrong and most everyone I know could see that. Stopped reading him years ago as it was a waste of my time. Mauldin is similar to John Hussman, who I have great respect for. JH has been consistently wrong because he is using prior metrics to guide his forecasts. Not in a good way, but things are different right now and western governments are willing to go to extreme lengths to maintain the status quo. Eventually, what JH forecasts will happen. But when you are off by years, you are effectively wrong.
