Barbara,
I think what he is saying is that he selling, or planning to sell, everything except gold. Though I am not in any way advocating what he is saying to do, in my own small company, which deals mainly with American companies, I have seen a downturn because of the world influences. Our sales to Thailand are non-existant, the US customers we sell to that do business there are experiencing the same. The same is true with Korea, Japan, starting that way in S. Africa and our distributor in Australia is complaining of the downturn in their dollar, forcing him to purchase less US products. Same in New Zealand. We have not really felt the bite yet of the trickledown, but we are beginning to feel the start of it for sure.
As to TSIS and how it relates, well, many of their customers, such as AT&T, do international business and as that slows their cash flow is going to dwindle to some extent, their foreign dollars shrink. This is going to floow through to their expenditures, stock inquiries, etc.
So even TSIS is not insulated from it. Something they were well satisfied with yesterday may not fit their budget tomorrow. On the same subject, I got a quote for some materials from a foreign country just Friday. They said to allow 90 days to obtain a container to ship in. Since shipments in have dwindled, there is a shortage of containers with which to ship out. This all takes a toll.
What he suggested is to insulate yourself as much as possible by having your money in gold. Personally, I like mine in cash.
Jim J |
