I have been receiving emails recently that all seem to be saying the same thing: "OK, quit telling me how bad things are, what I want to know now is what can I do to save myself and my family? Or is already too late?"
Well, if you'll allow just one more Doom & Gloom comment: you ain't seen anything yet! Only a partisan two-bit hack economist from an Ivy League University with a Nobel Prize can say with academic certainty that the worst is behind us. It is simply hogwash! The Titanic's bow is already awash.
But there's still time to make some informed choices, and do something proactive instead of reactive. Not all of the lifeboats are already launched.
For example; do you have any silver or gold? Back in 2004, when I started my own preparations for the sure-to-come financial disaster, I cashed in a few under preforming stocks and bought a some Canadian bullion coins; a "few" of gold, a "few" silver. My records show that I paid $405 for the gold 1 ounce coins and $5.85 for the 1 ounce silver coins. I just peeked a moment ago, and an ounce of gold is at $1,277.50 and those silver coins are now worth $21.15. You do the math as to my ROI.
With less than 2% of all investors participating in the precious metals markets, it seems like a no-brainer to me that the price of both gold and silver have a LONG way to go before it bubbles. Accordingly, even at these supposedly "high" prices, I firmly believe that gold, and silver in particular, will double again in the near future.
Of course, I remember my former stock broker telling me that holding precious metals means giving up dividends. Hm-mmm, well my rather spectacular return on investment these past six years certainly blows that argument out of the water. How is your IRA these days, huh?
So quit rearranging the deck chairs on this sinking ship and buy some gold. And maybe even put a couple of bucks aside to move down here! No, it isn't over!
