By Greg hunter’s USAWatchdog.com
I got an email yesterday from a person called “Michael” (I will not use his last name.) that said, “Greg, I have been reading you for about two years now. I have read everything from $8/gallon gas to a total collapse of the dollar. You are the boy who cries wolf.” I sarcastically replied, “Michael, Please stop reading and go long the U.S. dollar. The economy is doing so well the Fed just announced zero interest rates until 2014. I guess I should do what the ratings agencies do and tell you about the downgrade just after things turn to crap. If you would have bought gold two years ago (like I have repeatedly said) you would have doubled your money, but what do I know. Thank you for the feedback and good luck with your normalcy bias. Greg”
I do not give trading advice, but I do give protection advice. Now, more than ever, you need to protect your wealth. This is not a money making trade. It is an insurance and protection trade and nothing else.
Listen folks, I get no pleasure in reporting that things are unraveling in the economy and in the geopolitical world. I don’t want to come off like “Chicken Little” which is why I use many sources and links in my posts. I want you to have the best information, and I want you all to know where it came from. World leaders in government and business have been sounding dire warnings at what seems to be an increasing rate. You can look back on this site and see for yourselves. I am not going to stop giving you all information I think is important, no matter how bad it is.
The latest warning comes from a real market professional named Ann Barnhardt. She closed her commodities trading business shortly after the bankruptcy of MF Global in October. Barnhardt thinks there was no way she could have protected her clients’ money from the same thing that happened to MF Global customers. $1.2 billion was taken from segregated customer accounts, and the assets are still “missing.” Ms. Barnhardt says it was stolen, plain and simple.
Barnhardt thinks the financial system is way beyond repair, and a financial collapse is on its way. She says that every commodities brokerage firm is doing the same thing MF Global was doing before it went bankrupt and calls the entire system a “house of cards” that is living on “borrowed time.” Barnhardt says the big banks are not only insolvent, but they are insolvent “multiple times over,” and you should get your money out before the you know what “hits the rapidly spinning rotors.” Remember, Barnhardt is an insider. She was not just a broker but a brokerage owner for many years. I think she knows what she is talking about, and you can ignore her at your own peril. (Please listen to her latest interview from a few weeks ago on Financialsense.com by clicking here.)