Friday, November 5, 2010

Weimar R Us

Temple announcement:

The Raleigh temple will be closed for fall maintenance the last half of November (Monday, Nov 15th through Monday, Nov 29th) so please try to attend over the next ten days, before it closes.


Stock Market surges

And why shouldn't the stock market surge? Everyone is SO HAPPY that easy money will soon be pushed into the system.

Read this article about the possibility of the dollar crashing:
http://www.cnbc.com/id/40007252

Yes, I'm a gloom-and-doomer, but this guy on CNBC says the same thing I am thinking. He starts out by talking about "quantitative easing" (aka printing money out of thin air.)

"It's with the best of intentions but I think it's a very, very wrong policy," Merk said in an interview.

Consumers should prepare for another turn of events like the spring of 2008, when oil prices soared to $147 a barrel and gas at the pump was more than $4 a gallon, he said.....We're going to get inflation but not where Bernanke wants to have it. We're not going to get wages to go up. We'll get the price at the gas pump to go up instead."


And here is some good advice:

"There's no such thing anymore as a safe asset. Cash is no longer safe," he said. "Do what central banks do, they diversify to baskets of currencies.


He says cash is no longer safe. I definitely feel that way. I feel like my husband's 401-K will end up being completely worthless by the time he finally retires. I hardly want money in the bank.



But I am not going to diversify into other baskets of currencies. What I see down the road is money going the way it went in Weimar Germany, when wheelbarrows of money were needed to buy a loaf of bread. Right now I just want to "diversify" by spending my money on food storage, while the money is still worth something.

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