CNN Money: Williams Admits Great Depression Coming

[Ichingcarpenter]

Get ready for the price of gold to soar after this type of story in mainstream!
John Williams discusses a coming financial depression on CNN

video: http://www.liveleak.com/view?i=f49_1204403165&p=1

For more information John Williams has his own site that
analyzes the real government figures not the fake crap
the government pushes out.

Many of his reports are free but also has a premier analysis.
Primers on Government Economic Reports in the upper right hand
corner are all free and cover a range of topics:

What you've suspected but were afraid to ask.

1. Series Master Introduction
2. Employment and Unemployment Reporting
3. Federal Deficit Reality
4. Consumer Price Index
5. Gross Domestic Product




His site:
http://www.shadowstats.com/

[Rene]

1. OK...so what do we do about the monies currently in our 401K's etc......

Should we take it out?..pay the penalties and stuff our mattresses with the cash? buy gold? How do we salvage all that money, so we have access to it when the 'economy' tanks?

[Lorien]

3. I think that gold is a fairly safe bet

I wish I could have bought some seven years ago. :-(

[Occulus]

5. I've been trying to get my mom to invest in gold

and she just... won't... do it. "I don't need a bunch of gold." :wow:

[backscatter712]

4. I can think of a few things.

You can roll over your 401k into gold-based mutual funds in an IRA - that way you don't get slapped with IRS early withdrawal penalties.

Or you can shuffle some money into international mutual funds - international stocks will probably take a hit, but not as big as U.S. company stocks. And if the dollar crashes, your money will be in foreign stock, so will largely avoid the hit.

[sepulveda]

10. there are easy and

foolproof ways to protect against market drops. the problem is it is not as sure as people think if and when the market will drop, and how much

i trade for my $$$ every day. 20-30 trades a day sometimes.

with that in mind.

want to make money off a drop in the Dow Jones Industrials?

buy DXD . double leveraged short ETF. for every 1% dow goes down, it goes up 2%

QID does the same for the nasdaq 100

want gold? buy GLD

want to go long the euro and short the dollar (make money if the dollar goes down against the euro)? FXE

etc.

there are also good gold mutual funds. i bought MIDSX (midas fund) in 1999. i made over 400% in that

but i got a hint for you.

as soon as EVERYBODY loves an asset class, that is rarely a good time to buy, or at least go all in

i loved gold in 1998. i have sold 3/4 of it

at $300 an ounce, it was a great buy. at $950. not so much. chasing the crowd rarely works.

this assumes that you can trade stocks (ETF's trade like stocks) in yer IRA

my IRA has access to stocks, bonds, forex, options, futures, etc.

[my2sense]

2. K & R n/t

[Turbineguy]

6. In the late 1970's

a guy named Ruff made a fortune writing a letter predicting the imminent collapse of the economy. People bought gold and silver, sky-rocketing the price. In the early 1990's the national debt thanks to Reagonomics was going to collapse the economy. In 2000 the Y2K bug was going to bring the planet to a standstill.

Programs and interpretations of the Nostradamus prophecies come and go.

Then there are the Rapture-Ready folks who bring a special sort of idiocy to the table.

The government lies about all those numbers no matter who is in the White House. If the numbers get bad, they change the metric and the numbers improve. Bush is an idiot and has done lots of harm. But these are other forces as well. The tech bubble, the housing bubble, the credit crunch, all these are in a corrective phase. Come 2009 we can start working on putting the republican theory of governance on the scrap heap.

People are cutting down on throwing away money on useless junk. They are paying down their credit card debt. In a consumer driven economy that is bound to have a significant effect. The mortgage problems came about because of the idea that more people should own homes and the rules were modified to allow those who would not previously qualify to do so. That started a sea-change in borrowing with people in higher income brackets piling in. Brokers were rewarded for writing bigger loans and made the old mistake of thinking that by doing well they were doing good.

To get noticed these days you have to jump up on the table and tear off your clothes. So numbers get thrown out there about increases in mortgage defaults and other disasters without contextual perspective. Actually, the are neighborhoods where there are no houses in foreclosure. People get up in the morning and go to work. And that's precisely what they need to do.

Of course if the repubs keep the Witehouse.... better look for a safe haven, because I don't know how much longer we can keep this up.

Thanks for reading.

[Jack 4 Ohio]

8. thanks for posting nt

[Hydra]

7. K&R

This trainwreck was planned, so don't expect it to go away soon.

[superkia]

11. The plan is global enslavement and you are right, its not getting...

better. Look at things have gone, it only goes in one direction when the elite bankers and corrupt politicians control the agenda and the agenda is to enslave us with poverty. We will be so happy when our corrupt government gives us help to eat because we are starving and we will ignore the fact that they put us in that situation as a plan.

[bluesmail]

9. The Intentional Collapse of America