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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: NOW who wrote (41533)9/14/2005 6:12:55 PM
From: patron_anejo_por_favor  Read Replies (3) of 110194
 
I generally agree with his premises. I'm somewhat agnostic about gold being a "lifeboat"....if things get as bad as he says, you won't mind being an outlaw, and alot of other things would probably be banned as well (including private ownership of oil futures or oil company shares, and foreign stocks).

OTOH, his conclusion that the social order of things will undergo massive upheaval a la New Orleans post Katrina plus 2 days seems on the money. New Orleans was in a sense a great social laboratory for what happens in a modern American city when social supports give way. If there were a severe shock caused by a derivative event (for instance), and the dollar were to drop 75% overnight accompanied by hyperinflation, who's to say the same kind of chaos wouldn't envelop every US city? Not me....the lesson to be taken home is be prepared and have a plan. Have a place to go (away from . Have food/water/fuel/guns/ammo/generators, and know how to use them. The further we go in this, the more I am tempted to believe my Mormon friends on these things, and the less crazy it all sounds.

EDIT: Oh yeah and the part about "reporting gold ownership" was bull$hit. You may have to report (current) large purchases, but that's about all.
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