Investment guru and publisher of The Gloom, Boom and Doom report, Marc Faber, regularly discusses investment strategies for protecting and building wealth during times of economic distress. He has recommended purchasing gold, silver and foreign assets because of what he perceives to be an impending economic catastrophe in the United States.
He’s suggested that war, including traditional international conflict, civil war and non-traditional terror strikes, may eventually affect the United States and potentially turn it into what would could be perceived as a third-world country. Even if the US were to avoid a war on our own soil (which is unlikely according to Faber), the economic crisis will lead to serious problems for citizens by driving most into bankruptcy through hyperinflation of the US dollar, forcing most to literally fight for food and resources – thus he sees social unrest and riots on the horizon.
In addition to investment advice, Marc Faber also provides practical advice for those looking to preserve their well being. His advice is often looked at as a joke, but make no mistake, Faber is totally serious, even if he has a grin on his face when he says that the world as we know it is coming to an end.
In his latest GBD Report, Faber again advises those with the means to do it, to leave urban areas and seek safety in rural, country areas, preferably farms, and to be prepared to defend that land in the event the worst happens:
Faber has an interesting suggestion for investors if the plunge comes to pass.More Here..
With tongue apparently in cheek, he says buy a farm you can tend to yourself way out in the boondocks. And protect it with high voltage fences, barbed wire, booby traps, military weapons and Dobermans.
America Is 'Bankrupt Mickey Mouse Economy
FROM JIM SINCLAIR:
Here is my New Years gift to you, my extended family.
There is no way that the CONSEQUENCES of the largest creation of paper money since it was invented can be avoided or even modified. Odds now favor Alf Field’s price objective.
January 14th 2011 to June 21st, 2012:
The best part of this gift is not the one you already know, which is January 14th 2011, but rather the date that a new currency form will replace the form of the US dollar as you know it today which is the third week of June 2012.
Don’t laugh! Write this down and do not forget about it!
Happy (sort of) New Year,