Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: maceng2 who wrote (72235)	1/27/2010 6:10:59 AM
From: Snowshoe	Read Replies (1) of 74559

USA devaluation is a threat, but it's pretty hard to devalue against other currencies when the debt problem is global. Folks who believe gold is the answer should keep in mind that the USA has confiscated gold in the past and now has confiscatory taxes on gold capital gains. I try not to be wedded to a particular scenario. For the past few years I've held a lot of treasuries plus energy and paper gold. Lately I've sold off part of my paper gold and hedged the rest with covered calls. The recent McKinsey report lists 4 historical archetypes of the deleveraging process: 1) belt tightening, 2) inflation, 3) massive default, and 4) growing out of the debt. Belt tightening is the most common scenario... businessinsider.com

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