Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: yard_man who wrote (11171)	4/25/2002 12:59:13 PM
From: BSGrinder	Read Replies (1) of 36161

I don't know why you think that events that have happened before in our country as recently as 20 years ago (I remember not being able to withdraw my savings from a failing S&L) are "practically impossible." The government has closed banks and stock markets many times in the past - most recently last September. They have taken forcible action against gold many times, and devalued our currency in single fell swoops. And the current massive levels of questionable debt and concentrated derivative counter-party risk have the potential to dwarf the severity of previous financial crises. The chances of my getting killed in an accident in the next 10 years are probably less than the chance that the central bankers cannot prevent a major currency or financial crisis. Yet am I to be considered wise to have life insurance and foolish to have currency insurance? /Kit

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