Sunday, 20 Oct 2013 06:54 AM

Take immediate steps to protect your wealth . . . NOW!

That’s exactly what many well-respected economists, billionaires, and noted authors are telling you to do — experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer. According to them, we are on the verge of another recession, and this one will be far worse than what we experienced during the last financial crisis.

Marc Faber, the noted Swiss economist and investor, has voiced his concerns for the U.S. economy numerous times during recent media appearances, stating, “I think somewhere down the line we will have a massive wealth destruction. I would say that well-to-do people may lose up to 50 percent of their total wealth.”

When he was asked what sort of odds he put on a global recession happening, the economist famous for his ominous predictions quickly answered . . . “100 percent.”

Faber points out that this bleak outlook stems directly from Federal Reserve Chairman Ben Bernanke’s policy decisions, and the continuous printing of new money, referred to as “quantitative easing” in the media.

Faber’s pessimism is matched by well-respected economist and investor Peter Schiff, the CEO of Euro Pacific Capital. Schiff remarks that the stock market collapse we experienced in 2008 “wasn’t the real crash. The real crash is coming.”

Read More: www.moneynews.com/MKTNews/Massive-wealth...013/06/20/id/511043/

Video: w3.newsmax.com/a/aftershockb/video47.cfm?promo_code=1447F-1

So - openly admitting I've been too lazy to read those links - what steps would the wealthy be able to take? Stash it under the mattress?

Gilly wrote: I'm sure that Faber and Schiff would recommend investing in physical commodities. This might work out, it might not, there's all kinds of things the government can do to disincentivise this. It would be a good idea to stash away as much cash as you feel comfortable with as well. I don't really feel qualified to give you financial advice, but I do feel 100% confident to say that things are going to happen to people's bank accounts, mine included, that they're not going to like very much. We don't quite yet know what those things are, but all the signs are that it's coming:

sanctumzone.co.uk/forum/todays-news/9315...th-confiscation.html

The likes of Schiff have been saying this for at least a decade now.

If you invest in stuff like gold then basically what you're saying is that you expect there to always be a FR banking economic system in place.
If the entire economic system collapses then no amount of gold or fiat is going to do a shite of good.

If shtf actually happens then guns,ammo,food,land,booze and yes even soap and bog roll will have incredible value.
For gold to have value there has to be some kind of ordered society in place.

A house with land in a decent location is about the best you can hope for I suppose, provided you can keep up the payments on it and then forcefully hang onto it when things go south.
Most houses in the UK ofc don't have land or at best a 20ft square postage stamp.

You could ofc simply wing it if tshtf anyway if you're agressive enough, money is hardly going to be an issue anyway is it?
Really what all the griping from Schiff and co is about is hanging onto LARGE savings and trying to pass that across on to better times isn't it?

haha i got nothing to lose

Cheers. I'm not wealthy myself - if I was, I'd have been stashing it for a good while. When & if tshtf, it'll be dog eat dog on the streets.

Gilly wrote: This is why I moved a long way away from here:



Still, you know, maybe if you sat down with them all and explained that we need to live in a more co-operative and collaborative economic system, instead of one based on coercion and elitism, they'd all 'wake up'...

I don't think they would. I think those with muscles would believe it easier to take from the weaker ones than expend the energy sorting things out for the benefit of everyone. I think some would happily justify cutting throats to get the bigger share of what's going.

wake_up_bomb wrote:
All I wanted to do at that time is tell them to leave the poor shopkeepers alone and go loot Buckingham Palace.

wake_up_bomb wrote:
Zombie Apocalypse!

Jane