Dear Doomers,
This one seems to have slipped through the scanners and is dated October 22nd, but seeing how time is constantly going tick-tock, it might be the only thing you have time to read before you should be grabbing any toxic paper currency u can find and rush to the nearest gold bullion shop. Remember that turning all that useless junk you really don't need for day to day living first into toxic paper, and then into gold bullion TAKES TIME, infact it can easily take days to weeks, TIME YOU MIGHT NOT HAVE ANYMORE.
FINAL WARNING
October 22nd, 2009 by Egon von Greyerz, GoldSwitzerland
The severe problems that the world economy and financial system have experienced in the last couple of years will seem like a walk in the park compared to what will happen in the next couple of years.
For the investors who haven’t yet protected themselves, let us tell you that you are very lucky. You are lucky that you have been given yet one more chance to protect yourself. But let us be very clear, you have a very short time to put your house in order. Because during the month of November the events that we outlined in our Newsletter “A Shocking Fall” are going to start to unfold.
Dollar down and Gold up
Starting in November, we are likely to see the dollar falling precipitously and stockmarkets turning down after this bear market correction. We will see the bond market falling and especially long term interest rates going up. And most importantly gold will start to move up very strongly.
We have since 2002 advised our investors to protect themselves by buying physical gold and store it outside the banking system. Gold has since gained more than 250%. Also, in the last ten years the Dow Jones has moved down 80% against gold. Most world stockmarkets have had similar falls against gold. So in real terms the stockmarket has been a very poor investment. We expect the Dow to fall another 90% against gold in the next few years.
The party is over
Earlier this year we said that a 50% correction is totally normal in a bear market and that would take the Dow to 10,300 which could happen by early November. Stockmarket investors have been given an incredible gift in the last seven months but the party is now over. Most investors will not realise this until it is too late. They will hang on to their shares for a long time yet and follow the market most of the way down. In our view, the only stocks worth holding are precious metals stocks which are grossly undervalued and will benefit from a very strong rise in gold.
The next few years will be devastating for the world economy, for the financial system and for private lives. We have outlined this scenario in our newsletters and commentaries for a long time.
The majority of people are short sighted and believe the economy has improved because governments have printed trillions of Dollars, Pounds, Euros etc that they call money. But let us be very clear, you can’t abolish poverty by printing paper and you can’t solve the world’s enormous debt problem by exacerbating it. These debts will never be repaid with normal money, not today and not tomorrow – NEVER!
Still time for protection
In the next few weeks until some time in November, investors can still protect themselves by selling their stockmarket investments and buying gold at reasonable prices.
Cont: http://goldswitzerland.com/index.php/final-warning/
