Archive for February, 2013

LIBOR or is that LIE-MORE again?

The entire LIBOR issue, which is confounding to many readers IS a central issue to the general advice to get out of the markets.

The game is entirely rigged, just like a blackjack table or Roulette wheel – where the house always wins. Now read Banks for House and you have the picture.

The party is over and it is time to get out of the pool before the stink really starts to rise.

How?

Precious Metals.

Gold for the industrial and commercial interests that can afford it and silver for everyone else. Keep your wealth in as little currency and bank accounts as you possibly can, as the MF Global case proved – you cannot count on anything you cannot OWN 100% and in your own possession. When you need currency to participate in the other parts of the economy then convert your gold or silver to currency and conduct your transaction, otherwise hold on to it.

How?

Hard assets.

Beyond precious metals there are a number of classes of hard assets, the main view to keep here is to NOT LEVERAGE anything to own them. If you have real estate with mortgages on it that you cannot pay out when the banks demand their note, you will end up owning nothing.


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