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As a final thought, I should disclose that I have never been a conspiracy theorist. I have always believed in the American Spirit. I am not only a student of Constitutional history, I am a deep, passionate admirer of it. I count Thomas Jefferson among the most important people ever to have lived, and I believe he would be appalled at what his dream has become.
Until recent years, I believed the United States would lead the world in innovation and productivity for the distant future, but I didn't think it would do so in co-operation with the bloated, inefficient federal government at its core, but rather in spite of it. Unfortunately, the mother of all Ponzi schemes that started with the Federal Reserve's inception in 1913 -- and all the profligate policies it has implemented in the decades since -- has finally reached a crescendo. There is only one solution to the mess we are in, and that is a rapid and relentless reversal of government spending, taxation, and money-creation. Alas, at the very moment we need these things to cease most, our government is issuing more record debt and currency, while initiating unprecedented spending programs.
For the first time in my career, I am betting against the United States and the dollar. The last place I want to put my wealth is in the equities of companies denominated in U.S. dollars. Will I ever buy U.S. stocks again? Undoubtedly! If I'm correct about what's coming, there will be a lot of pain. But at the end of it, there will also be almost unfathomable opportunity.
My objective is to survive, and to benefit.
Disclosures: Paco is short U.S. Treasuries through the Proshares Ultra Short 20+ Treasuries ETF (ticker: TBT). He is long physical gold, and the Proshares Ultra long gold ETF (ticker: UGL). He holds no positions in the equities mentioned in this article.
http://seekingalpha.com/article/1151...vestments-gone
As a final thought, I should disclose that I have never been a conspiracy theorist. I have always believed in the American Spirit. I am not only a student of Constitutional history, I am a deep, passionate admirer of it. I count Thomas Jefferson among the most important people ever to have lived, and I believe he would be appalled at what his dream has become.
Until recent years, I believed the United States would lead the world in innovation and productivity for the distant future, but I didn't think it would do so in co-operation with the bloated, inefficient federal government at its core, but rather in spite of it. Unfortunately, the mother of all Ponzi schemes that started with the Federal Reserve's inception in 1913 -- and all the profligate policies it has implemented in the decades since -- has finally reached a crescendo. There is only one solution to the mess we are in, and that is a rapid and relentless reversal of government spending, taxation, and money-creation. Alas, at the very moment we need these things to cease most, our government is issuing more record debt and currency, while initiating unprecedented spending programs.
For the first time in my career, I am betting against the United States and the dollar. The last place I want to put my wealth is in the equities of companies denominated in U.S. dollars. Will I ever buy U.S. stocks again? Undoubtedly! If I'm correct about what's coming, there will be a lot of pain. But at the end of it, there will also be almost unfathomable opportunity.
My objective is to survive, and to benefit.
Disclosures: Paco is short U.S. Treasuries through the Proshares Ultra Short 20+ Treasuries ETF (ticker: TBT). He is long physical gold, and the Proshares Ultra long gold ETF (ticker: UGL). He holds no positions in the equities mentioned in this article.
http://seekingalpha.com/article/1151...vestments-gone
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