GD 2 UPDATE

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Quick but important point. Everyone…especially those on CNBC and the so-called expert economists (an oxymoron if I’ve ever heard one)…are saying that we cannot have another Depression because “this time” we saved the banking system, which will prevent another Depression from taking place.

 

Here’s the BIG problem with their argument…

 

We are adding trillions of dollars in bad debt to our nations already bankrupt balance sheet by assuming all of the banks bad debts. This increased debt level is quickly making the US an insolvent country, and will soon cause all holders of our debt and currency to begin selling them as quickly as possible. Foreigners hold 60-70% of our currency and debt, and once the selling begins…look out below.

 

This is why I believe that the coming Depression…if it happens…could potentially be worse than anything we experienced in the 1930’s.

 

Everyone reading this should be prepared in the event this begins to take place.

 

Here’s how:

 

1) Eliminate as much personal debt as possible. If this means selling your home and renting, then so be it. Because home prices could drop as much as 30-50% from current levels you could be doing yourself a big favor in the long run.

2) Live beneath your means, and have this important discussion with your family…immediately. I know this is depressing, but if it means that you survive and have a roof over your head, then it’s the best family meeting that you ever had.

3) Sell all investments in the stock market, except those that go up in price as the overall market goes down…like the ones VRA has been recommending.

4) Instead, buy gold and silver. The amount you make in precious metals over the next 5 years might allow you to buy an entire city block in the years to come.

5) At the risk of being embarrassed in the event you are wrong, tell everyone that you care about…friends and family…about your plan so that they can begin doing the same things.

 

I’m not predicting that things will get this bad, but at the same time the writing is on the wall more and more with each passing day.

 

Kip Herriage

Editor, VRA