We just had the worst first week in the HISTORY of the stock market and its a bell weather of what could be the worst year in the history of WORLD stock markets. Most of us have succumbed to the snake charming skills of the global puppet masters pouring trillions of digitally printed dollars into the banking system in order to fill an ever expanding black hole of debt.
The illusion of "recovery" is repeated over and over and over on virtually every MSM outlet in an effort to stoke the embers of "CONsumerism" and the resultant "VELOCITY OF MONEY" and its become so comical the Faux Journalists can't even CONceal their own contempt now when they question their prescribed daily "expert" pumper guests. The faux journalists have retirement accounts that are being decimated by the stealth bear that has been brewing for over a year now while many S&P 500 high flyers have been already taken down over 40%.
Hedge funds are beginning to close down shop and openly stating they can't in good CONscious manage other peoples money in an environment that no longer is guided by any historic economic principles. A nice way to tell you they think we are about to collapse and "we're gettin' the hell outta here now, before the pitchforks and lamp posts arrive".
I have a problem with Harry Dent as most of you know by now. I think he misses a key element in the gold argument. He's lumping gold into every other asset that collapses in price during a deflationary collapse and states that gold collapses too. Historically he is obviously wrong. The last deflationary collapse was the 30s and gold rose magnificently as did the miners. This time I believe that gold's performance will also be the same except on steroids. The reason.....simple, they have created so much printed money and distorted so many paper currencies and lied so much that CONfidence in their ability to make real economies and protect your paper assets will collapse with gold being the last currency standing. I think this occurs much earlier in this deflationary cycle than Dent does due to this LOSS OF CONfidence. Dent believes it will happen late in the cycle ONLY WHEN INFLATION rears its head because of their out of CONtrol printing. It may sound nuanced to some of you but I think its critical in your preparation of owning sound money. You can decide yourself and so far Dent has appeared to be right in his predictions. gl