Here is what happened in the 1930’s. It became against the law to own gold. Everyone had to turn it in. As I’ve said before, you cannot print gold and silver, there is only a finite amount. Governments will keep on printing money. I always recommend 10% in gold and 10% in highly speculative stocks and/or real estate in a portfolio. Thats not hard to do.
The problem occurs with Mutual Funds, Retirement Funds and Ira’s and 401K’s. Here is where you will see the most shrinkage of your assets. The Managers of these funds have the same mindset as real estate agents–the market always goes up.
I would like to point out to you that there aren’t many money managers that have ever seen a bear market.
How about next to none.
Are these funds federal insured, absolutely not. They are SPCIC insured (a private insurance company)
They have no reason to be conservative, low producers get dropped, therefor max to the hilt on the market going up. Everyone of the 31,000 mutual funds is doing it. Does it sound like there is anything wrong here?
I think that most of the retirement plans, 401k’s and Ira’s are sitting ducks. Most us baby boomer’s are going to “take it in the shorts.”
