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"It's Time To Hold Physical Cash", Fidelity Manager Warns Ahead Of "Systemic Event"

Tyler Durden's picture




 

As Jamie Dimon recently noted while discussing the perils of illiquid fixed income markets, the statistics around “tail events” can no longer be trusted.

In other words, 6, 7, or 8 standard deviation moves that in theory should only happen once every two or three billion years may now start to show up once every two to three months. Evidence of this can be found in October's Treasury flash crash, January's fantastic franc fuss, and last month's Bund VaR shock.  

Why is this happening? Simple. There’s no liquidity left and the idea of efficient markets facilitating reliable price discovery is an anachronism. 

Today’s broken, “mangled” (to use Citi’s descriptor) markets come courtesy of: 1) frontrunning, parasitic HFTs, 2) the post-crisis regulatory regime which, to the extent it’s well meaning, was conceived by people who never had any hope of evaluating the likely knock-on effects of their policies, and 3) central banks, who have commandeered sovereign debt markets, leaving a trail of illiquidity and shrunken repo in their wake. 

Meanwhile, equity and fixed income bubbles continue to inflate on the back on central bank largesse and the only two options for rescuing a highly leveraged world are writedowns and/or inflating away the debt.

So what is a savvy investor to do in this powderkeg environment? Simple, says Fidelity’s Ian Spreadbury: own gold, silver, and physical cash. 

Via The Telegraph:

The manager of one of Britain’s biggest bond funds has urged investors to keep cash under the mattress.

 

Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund, is concerned that a “systemic event” could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock.

 

“Systemic risk is in the system and as an investor you have to be aware of that,” he told Telegraph Money.

 

The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some “physical cash”, an unusual suggestion from a mainstream fund manager.

 

He pointed out that a saver was covered only up to £85,000 per bank under the Financial Services Compensation Scheme – which is effectively unfunded – and that the Government has said it will not rescue banks in future, hence his suggestion that some money should be held in physical cash.

 

He declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10. The current woes of Greece, which may crash out of the euro, already has many market watchers concerned..

 

Mr Spreadbury's views are timely, aside from Greece. A growing number of professional investors and commentators are expressing unease about what happens next..

 

“The problem is that people are struggling to work out how to diversify if QE programmes stop,” he said.

 

Mr Spreadbury added: “We have rock-bottom rates and QE is still going on – this is all experimental policy and means we are in uncharted territory.

 

“The message is diversification. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”

 


As The Telegraph notes, this is "an unusual" piece of advice coming from "a mainstream strategist" and it suggests the "serious people" are starting to realize that a certain tin foil hat fringe blog — which can already count LIBOR manipulation and HFT proliferation as examples of conspiracy theories turned world-changing conspiracy facts — may be correct to warn that if the current state of affairs persists for much longer, the "market" may one day be halted and simply never reopen.

 

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Mon, 06/22/2015 - 01:58 | 6221041 Seek_Truth
Seek_Truth's picture

Here's a "homework" question for you.

What, exactly, is your "god"?

PS- Answer, someday- when you are honest with yourself. If that ever happens.

Sun, 06/21/2015 - 15:01 | 6219644 MsCreant
Sun, 06/21/2015 - 15:18 | 6219679 Tall Tom
Tall Tom's picture

Check out the High Relief $75 Gold .9999 Fine Troy Oz Gold 2015

 

http://mintnewsblog.com/wp-content/uploads/2015/01/O-11-C.jpg

 

Stunning design.

Sun, 06/21/2015 - 23:51 | 6220914 Bunghole
Bunghole's picture

Looks like a young Hitlery

Mon, 06/22/2015 - 07:58 | 6221338 Tall Tom
Tall Tom's picture

Look again...

 

Hitlery and Liberty have nothing in common.

 

Perhaps you are confused?

Mon, 06/22/2015 - 07:11 | 6221274 Socratic Dog
Socratic Dog's picture

Sounds like a clue as to where they are planning on taking the gold price.  $75.

Sun, 06/21/2015 - 17:07 | 6219961 roadhazard
roadhazard's picture

Selma Hayek

Sun, 06/21/2015 - 17:14 | 6219985 Cornfedbloodstool
Cornfedbloodstool's picture

Giant ass.

Sun, 06/21/2015 - 13:48 | 6219466 philosophers bone
philosophers bone's picture

Cool.  Went the bank last Monday to empty my account after a large deposit.  $40K.  Bank had $9K only so they had to order to it.  Took three business days.

The day after ordering it, I felt "weird" like maybe I was overreacting.

Picked up the bills on Friday and I feel fucking great.  I've decided that it is not prudent to hold all PMs and that some liquid cash (ie. outside of a financial institution) is a good idea. 

Went to an event last week with a bunch of I-Bankers.  They don't have a fucking clue.  I asked them what they thought the optimum percentage was for PMs in a portfolio.  Answer:  Zero.

Three business days to get $40K.  When they implement capital controls, they won't give you three business days notice.  They can't satisfy their obligations to everyone, so grab your muscial chair and get the hell out of the game.

Sun, 06/21/2015 - 13:50 | 6219487 Dre4dwolf
Dre4dwolf's picture

its just common sense man , whats the harm in pulling cash out? worst case if u need to cover some check or bill you re-deposit some.... just as long as you keep to yourself and dont flash $$$$$ no one should bother you.

that being said we are months away from bank runs in the usa, while europe is weeks away., just watch europe whatever will happen to us will probably happen to them first.... 

Sun, 06/21/2015 - 14:02 | 6219509 philosophers bone
philosophers bone's picture

Exactly.  They're not even paying interest, so what is the fucking point, other than being a sitting duck for capital controls.

The bank bail-in laws are all scheduled to come into force in 2016 even in the "safe" countries like Australia and Canada.  On orders from the IMF / BIS, unelected institutions.  Democracy was kinda a cool idea.

While I previously predicted that there wouldn't be a systemic event until much of the bank bail-in laws are in place (2016), I've concluded that I'm not prepared to take that chance.  If assets start leaving, they'll shut it down.

Sun, 06/21/2015 - 14:04 | 6219526 Billy the Poet
Billy the Poet's picture

Democracy was always a bad idea.  Why would I trade my absolute right to self determination for a one in three hundred million vote on what everybody will be forced to do? I'd rather do my thing and let everyone else do their thing. Synchronized living with millions of strangers doesn't turn me on in the least.

Sun, 06/21/2015 - 15:12 | 6219670 Son of Loki
Son of Loki's picture

The good thing about keeping all your cash in a savings acct is the whopping 0.01% yield.

Sun, 06/21/2015 - 22:32 | 6220806 conscious being
conscious being's picture

A deocracy is just too open to a bankster take over. The captured USA going around the world George Soros / Vicky Nuland style spreading democrazy is just their refined technique to get the bankster wolf into the hen house.

Sun, 06/21/2015 - 17:59 | 6220101 GotGalt
GotGalt's picture

I'm not sure I would choose to hold *that* much physical cash outside the bank.  For one, what happens if a freak accident occurs like your house gets flooded or burned down or buglars somehow catch wind of what you are holding and invade.  That would be a tough way to lose a lot of clown bucks.

For me, I'd rather just take the chance on holding gold/silver at this point in the race rather than risk too much on physical cash.  Holding a few thousand in $US is wise for the short term, in a variety of denominations from $10 - $100 bills.  Outside of  that though, it is much easier (and safer) to store/hide $70,000 worth of gold/silver than it is cash.  Just find a nice deep lake and let 'er sink.  :-)

Sun, 06/21/2015 - 17:09 | 6219964 Pancho de Villa
Pancho de Villa's picture

Your bank filed a 'Suspicious Transaction Report' on that transaction.

Sun, 06/21/2015 - 17:15 | 6219987 gimme soma dat
gimme soma dat's picture
  1. currency transaction report (CTR) is a report that U.S. financial institutions are required to file with FinCEN for each deposit, withdrawal, exchange of currency, or other payment or transfer, by, through, or to the financial institution which involves a transaction in currency of more than $10,000.
  1. In financial regulation, a suspicious activity report (or SAR) is a report made by a financial institution about suspicious or potentially suspicious activity.
Sun, 06/21/2015 - 17:21 | 6220008 bluskyes
bluskyes's picture

Nomenclature aside, it's none of their fucking business.

Sun, 06/21/2015 - 17:56 | 6220091 willwork4food
willwork4food's picture

Yea, tell that to the nice police officer that pulls you over and notices $40k in cash. That gleam in his eyes may not be that he likes your hair.

 The law says YOU are not guilty but your MONEY is ASSUMEND guilty. The police get a cut along with the county, state and its a win win, oh, except for you.

Bone was very lucky. So far.

Sun, 06/21/2015 - 17:13 | 6219980 gimme soma dat
gimme soma dat's picture

I keep telling people there cannot be a "bank run" when your local bank branch barely has enough money to operate.  Most ATMS don't have a lot of cash and could be empty very quickly even with the withdrawl limits already in place on those. 

Sun, 06/21/2015 - 20:23 | 6220491 Billy the Poet
Billy the Poet's picture

Bank sprint? Bank dash?

Sun, 06/21/2015 - 13:46 | 6219471 lester1
lester1's picture

Didnt Peter Schiff predict all of this ??

 

Perhaps the mainstream media should listen to his podcasts.

Sun, 06/21/2015 - 13:50 | 6219485 GMadScientist
GMadScientist's picture

Peter Schiff has the same predictive track records as Marxists...12/3 recessions called correctly.

Sun, 06/21/2015 - 14:19 | 6219562 Pullmyfinger
Pullmyfinger's picture

I think it was Jim Willie who first predicted Peter Schiff.

Sun, 06/21/2015 - 13:49 | 6219482 GMadScientist
GMadScientist's picture

"You see that buck you're holding? We're about to break it."

Sun, 06/21/2015 - 13:50 | 6219483 Son of Loki
Son of Loki's picture

This could indicate that Wal-Mart's theft problems are getting worse.

The company likely loses about 1% of its US revenue — or roughly $3 billion dollars every year — to stealing by customers and employees.

 

http://finance.yahoo.com/news/one-ominous-reason-why-wal-145335922.html

 

Merikans are " 'ceptional. "

 

Barry said so.

Sun, 06/21/2015 - 13:59 | 6219514 DutchBoy2015
DutchBoy2015's picture

Americans ARE exceptional  ...........Exceptionally IGNORANT and STUPID

Sun, 06/21/2015 - 15:13 | 6219672 Son of Loki
Son of Loki's picture

... and obese.

 

Don't forget that !

Sun, 06/21/2015 - 15:34 | 6219720 Miffed Microbio...
Miffed Microbiologist's picture

I went to the San Diego fair yesterday to see my daughter's photograph she had entered. It has been years since I had gone and I was amazed to find very large tent where the horizontally challenged could rent scooters. The proprietor was doing a brisk business. They used them quite effectively to push their way through the crowds around the fried food vendors where they primarily congregated.

Once again I missed a great business opportunity. *sigh* back to the wage slave tax donkey life.

Miffed;-)

Sun, 06/21/2015 - 15:56 | 6219786 UselessEater
UselessEater's picture

Had a small shop a few years ago. Made sure it was wheel chair friendly (takes up a lot of real estate for a small business owner).... I am still stunned that the aisles were not sufficiently "horizontally challenged" friendly!! BTW the customers were from Europe and the shop was in Aust...guess its a globally missed business opportunity to provide rent scooters.

Sun, 06/21/2015 - 16:09 | 6219822 Miffed Microbio...
Miffed Microbiologist's picture

I have noticed an alarming trend. All of these scooter riders have handicap parking stickers yet there doesn't appear to be an adequate number of parking stalls available in the front of businesses to meet the needs of this "expanding" population. How can this be addressed? When everyone is handicapped, will a ranking system be implemented so the more handicapped get the closest spots and the lesser, farther back? Or will this usher in the invention of the hover lounge? Once again my mind searches for the money making opportunity and I fear someone will, once again,beat me.

Miffed;-)

Sun, 06/21/2015 - 18:15 | 6220142 willwork4food
willwork4food's picture

Simple Miffed. All you have to do is develop a good NZT drug.

"Everything I ever read, heard, or seen was just organized and available. I knew exactly what I needed to do and how to do it."

Of course that would only be for personal & close friends (like me) consuption. After that, you would know.

you can thank me later.

Sun, 06/21/2015 - 20:27 | 6220505 Billy the Poet
Billy the Poet's picture

If there's insufficeint parking for the fats just wait until the transfats start showing up. "I identify as someone who will need to be buried in a piano case."

Sun, 06/21/2015 - 20:43 | 6220549 Seek_Truth
Seek_Truth's picture

I was with a group of friends the other day discussing this.

I have a friend who has MS and is actually in need of a handicapped space, and sometimes can't find a spot.

It's inevitable that this will soon need to be addressed, assigning different classes of "handicap"

Level 1: Handicapped through no fault of their own.

Level 2: Handicapped through lack of self control.

Level 3: Handicapped through desire to park in a handicapped space (so fake handicap).

I have a funny feeling that Levels 2 and 3 make up ~90% of those using handicapped parking.

 

 

Tue, 06/23/2015 - 03:01 | 6224657 gladius17
gladius17's picture

The solution is simple: wait for the collapse...then all these fat worthless fucks will die off, leaving more productive members of society with all their resources. Problem solved.

Sun, 06/21/2015 - 13:50 | 6219486 BI2
Sun, 06/21/2015 - 13:58 | 6219513 DutchBoy2015
DutchBoy2015's picture

You weak minded Buybull thumping RETARDS are fucking crazy.

Sun, 06/21/2015 - 14:10 | 6219542 Billy the Poet
Billy the Poet's picture

Never use the three pejorative put down before you've double dog dared your opponent. Everybody knows that.

Sun, 06/21/2015 - 17:29 | 6220018 mortem-tyrannus
mortem-tyrannus's picture

Of course we are crazy. We believe in the imaginary juju man in the sky.

But like so many things, craziness is relative.

If you have ever done any of these things:

1 - Designed a large complex information system and then saw how quickly that system degenerates (computer languages age, cpus become fossilized, disk interfaces go out of date, network protocols become irrelevant)

2 - Tried to bootstrap any different kind of environment from nothing. (In information systems this would mean etching your own processors and memory chips with the laser you built with rock and flint or building your own magnetic based storage systems with wooden platters, tomato puree and human piss)

3 - Attempted to stand perfectly still, Yogi style, removing your own preconceptions from the flow of conciousness and just looking around yourself trying to see things as they really are as opposed to how everyone tells you they are.

Then perhaps like me, you have come to realize that faith (that is a belief, freely accepted, in something that you cannot logically or empirically prove to yourself or to anyone else) is an absolute fundamental requirement of higher thought.

Without faith you can't escape the Sophists Brain in a Vat paradox:

https://en.wikipedia.org/wiki/Brain_in_a_vat

So making fun of people of faith is really quite disingenuous. You have people of faith and you have suicides who haven't yet pulled the trigger.

All you are really arguing is that your faith that mixing organic compounds in ocean water and sunlight leads to Beethoven's symphony number 5:

https://www.youtube.com/watch?v=6z4KK7RWjmk

That is fine. Lots of smart eggheads have come to the same conclusion.

But admiting that both the scientific and religious points of view both necessarily start from faith (even if they are of completely different kinds), and knowing what we know about the mind numbing complexity of human genetics, not to mention the thousands of exquisite beauties to be found on this wonderful earth, is it really so hard to believe in the magic juju man in the sky?

Sun, 06/21/2015 - 17:47 | 6220068 wendigo
wendigo's picture

Well said. 

Mon, 06/22/2015 - 19:41 | 6223765 mortem-tyrannus
mortem-tyrannus's picture

Thanks to you and MadCow for the kind words.

Sun, 06/21/2015 - 20:21 | 6220398 Mad Cow
Mad Cow's picture

Very well said!

Mon, 06/22/2015 - 07:19 | 6221289 Socratic Dog
Socratic Dog's picture

Aah, get fucked.

Mon, 06/22/2015 - 19:43 | 6223773 mortem-tyrannus
mortem-tyrannus's picture

As with all excellent advice, Socratic Dog my good friend, that is easier said than done.

When you are as damn all ugly as I am, getting laid gets harder by the year.

Still, I will do my poor best.

Tue, 06/23/2015 - 03:04 | 6224659 gladius17
gladius17's picture

"etching your own processors and memory chips with the laser you built with rock and flint or building your own magnetic based storage systems with wooden platters, tomato puree and human piss)"

You sir are in violation of my patents. Expect to hear from my lawyer soon.

Sun, 06/21/2015 - 13:59 | 6219490 buzzsaw99
buzzsaw99's picture

this is some funny shit right here:

the Government has said it will not rescue banks in future...

 

FREDO: ...He said that -- he said that -- you were bein' tough on the negotiations. But if they could get a little help -- and close the deal fast -- it'd be good for the family.

MICHAEL: You believed that story. You believed that.

FREDO: He said there was something in it for me -- on my own.

Sun, 06/21/2015 - 14:17 | 6219552 Billy the Poet
Billy the Poet's picture

I think the point is that depositor funds will be bailed in before any rescue. Therefore FDIC type guarantees wouldn't mean squat. The banks will eventually be rescued but only after at least some depositor funds have been rehypotecated.

Sun, 06/21/2015 - 14:31 | 6219583 buzzsaw99
buzzsaw99's picture

i don't believe depositor funds in the uk or usa will ever be bailed in, rehypothecated, whatever. the usa and uk have their own currency. the amount of money in the fdic is meaningless. if anything the amount they say is covered is understated. not since the great depression has a usa depositor lost a nickle even if they had a balance exceeding the fdic limit they were still made whole. the eu on the other hand, i wouldn't put my money in an eu bank if you held a gun to my head.

Sun, 06/21/2015 - 14:59 | 6219636 Billy the Poet
Billy the Poet's picture

You're right about the printing press but the powers that be seem to get a thrill out of hurting the little guy. Would they screw us even if they didn't have to? History says, "yes."

Dodd-Frank does have the bail-in, unsecured creditor language so they are certainly keeping that option on the table.

Sun, 06/21/2015 - 15:16 | 6219675 GMadScientist
GMadScientist's picture

You're considering the bank an unsecured creditor of the depositor?

LOL

 

Sun, 06/21/2015 - 15:38 | 6219701 Billy the Poet
Billy the Poet's picture

If you could stop laughing long enough to listen, the Dodd-Frank bill makes depositors unsecured creditors of the bank. Not as funny, is it?

 

Fed Governor Stein Warns When A TBTF Bank Fails, Depositors Will Be Cyprus'ed

http://www.zerohedge.com/news/2013-04-19/fed-governor-stein-warns-when-t...

Sun, 06/21/2015 - 15:39 | 6219739 buzzsaw99
buzzsaw99's picture

d-f language could be interpreted as affecting anyone over the fdic limit however... imo they did that mostly to stop corporations and the uber rich from putting ten billion dollars into a savings account.

Sun, 06/21/2015 - 15:48 | 6219763 Billy the Poet
Billy the Poet's picture

Dodd-Frank will be interpreted by the elites in any way that the elites chose to intrepet it so that benefits accrue to the elites at the expense of others.

That's what we call "Rule of Law" in this country. Remember TARP? Ninety-nine percent plus of American citizens opposed the bill and yet the bill passed. If the elites can force a bill through congress which sacrifices the wealth of millions of Americans to the banks despite the protests of those Americans imagine what they'll do with a law that is already on the books.

Sun, 06/21/2015 - 17:11 | 6219971 New_Meat
New_Meat's picture

Billy, could you get the assface who down-voted you to show and or shoot themselves?

Thanks, I'm attempting to correct me phrasing to accommodate the NEA's requirements.

- Ned

Sun, 06/21/2015 - 18:33 | 6220192 Billy the Poet
Billy the Poet's picture

Hey Ned.

I've got two serial downvoters following me today. Apparently one of them is a  s l o w  r e a d e r.

Sun, 06/21/2015 - 21:53 | 6220716 willwork4food
willwork4food's picture

U rock Billy. Preach it.

Sun, 06/21/2015 - 18:39 | 6220212 buzzsaw99
buzzsaw99's picture

it wasn't me

Sun, 06/21/2015 - 18:45 | 6220223 buzzsaw99
buzzsaw99's picture

everything you wrote is true. all i'm saying is that the thinking behind the d-f language was to mitigate the losses to the gubbermint in the next crisis. otherwise corporations and billionaires could get fdic insurance for vast sums of liquid money free of cost. d-f will be watered down and interpreted as you say but both dodd and frank fell on their swords trying to make sure the gubbermint was protected from the maggots to some degree. they weren't saints, and it won't work, but they did have the taxpayers in mind because they knew damn well there would be a "next time".

Sun, 06/21/2015 - 19:36 | 6220353 Max Cynical
Max Cynical's picture

"...not since the great depression has a usa depositor lost a nickle even if they had a balance exceeding the fdic limit they were still made whole."

Twice already in 2011, depositors at two failed banks have lost money on uninsured deposits.

Problems for large depositors arise when the FDIC is not able to find an acquiring institution for a failed bank. In this case the FDIC will set up a Deposit Insurance National Bank (DINB) to take over the failed bank’s operations and pay off insured depositors.  Large depositors who exceed deposit insurance limits are not paid off and potentially face a full loss on uninsured deposits.

Depositors losses have occurred this year when FirsTier Bank, Colorado, and Enterprise Banking Company, Georgia, were closed by regulators and the FDIC could not find a buyer for either failed bank (see this and this).  Large balance depositors exceeding FDIC insurance limits remain at risk when a bank fails and the FDIC cannot find a buyer for the failed bank.

Losing money in a failed bank can be a significant risk for large depositors.

http://problembanklist.com/fdic-warns-banks-on-potential-losses-by-depos...


Sun, 06/21/2015 - 19:42 | 6220369 buzzsaw99
buzzsaw99's picture

thank you. i stand corrected.

Sun, 06/21/2015 - 13:53 | 6219502 MedicalQuack
MedicalQuack's picture

Fidelity, of all companies, this is interesting as not too long ago they tried to push gamification of trading with "Stock City" software.  Traders came on to comment and were insulted, which they should have been.  This to me was really rock bottom with suckering people in to some more algorithms so you could put on your Oculus headset and watch your portfolio in 3D.  Yeah they did that and I'm sure it fell on it's ass.  I have seen the gamification garbage fail right and left as insurers have tried to soak consumers using it as a way to collect and mine more of your data.  

Seriously are traders going to put on a headset and watch this animation in 3D to trade stocks?  I don't think so, it's a good laugh.  So it is interesting that Fidelity puts this news out.  The sucker routine didn't work on trading.  I wrote about the Goldman Kensho analytics here too.  

http://ducknetweb.blogspot.com/2014/11/goldman-sachs-big-investor-in-kensho.html

Be careful too as "News Rigging" has arrived and with media starving for money they are kind of doing everything and anything to survive so sites like this one really have a lot more impact and importance.  Look at what's going on in South Carolina, as nowhere except in the US could a civil rights issue be turned into a flag fight, with people still confusing virtual and real world values over and over.  This is done partly on purpose as well to keep people distracted from the real issues at hand.  Certainly we can take care of and rid the world of any gun flinging flags out there, but what does that do for the real civil rights issues?  Nothing.  It's all a virtual grass roots campaign that gets mixed into the real news of course.  Just look on Twitter at all the folks going after a "flag" that's been there with no problem until now, now that the US needs to blame an object.  This is scary as hell so be aware of the news rigging that's taking place out there as bot are writing 60% of the news you read now.  I assume next month that will appear to be more prevalent at the Wall Street Journal too with the 100 plus news room layoffs, the Wall Street Bot maybe.

http://ducknetweb.blogspot.com/2015/04/news-rigging-has-arrived-astroturf-and.html

For the folks investing in health insurers, you might want to read about the frenzy there too.  Tomorrow I anticipate a rise in stock prices as they too have figure out how to rig the news on the cheap to raise their stock prices.  They did it earlier this week and they started yesterday again to put a lot out there, get folks to retweet and recommend.  The news contains "offers", nothing concrete and if you read the Blue Cross Press Release out there it sounds like a hostile takeover request from Cigna.  Cigna will play but has remained no comment as this news will increase their stock as well tomorrow.  Certainly at some point in time with insurers taking the fed up on their bail out re-insurance money this will get sticky as what's financing the stock buy backs of all the insurers?  Bail out money?  Also look at the $70 Billion that Handy Andy, former Goldman Sachs banker and United Healthcare executive (kind of a crook) says he's going to collect from insurers.  He can time that to occur at any time while insurers battle over take overs and money and when it gets real short, then the big monster, United (his former employer) can tromp in and buy up the insurance licenses on the cheap, like they did many years ago with Heatlh Net.  People in the northeast of the US who still have a Health Net health insurance policy are actually underwritten by United.  I must have stirred something up as I have Humana all over this post every day since I wrote it.  Health insurer stocks could be a big short opportunity.  

http://ducknetweb.blogspot.com/2015/06/with-humana-up-for-sale-whats-impact-of.html

Back on topic, yeah, hold the cash I agree and tell Fidelity to take Stock City and put it where the sun doesn't shine:)  It's time to quit fooling the public as the funds can't do it much longer.  

 

Sun, 06/21/2015 - 14:03 | 6219523 buzzsaw99
buzzsaw99's picture

fidelity probably owns moar piigs shit than all the other pension funds put together

Sun, 06/21/2015 - 21:55 | 6220722 willwork4food
willwork4food's picture

Which is the reason for this article.

Sun, 06/21/2015 - 14:02 | 6219517 Consuelo
Consuelo's picture

In a highly politicized environment where the masses can easily be brought to bear down on nearly nearly any social matter given the proper stimuli, even private property with crops and plenty of 'individuality & know-how', (could) be seen as 'offensive', 'un-patriotic' or even, 'illegal' under the right conditions.    Decades of Political-Correctness has had its desired effect here, along with mindless entertainment and 'easy times' for longer than most anyone alive can remember.

 

'Having' (anything) while others 'have-not' - no matter if even you do not have a $.01 cent to your name, but you have the means to survive, is going to present a very interesting situation for many.

If at some point, if the distribution chain breaks for whatever reason, $$$ could be a secondary consideration to food & fuel, and the 'average Joe', who just so happens to have a supply of necessities for basic survival, could easily be seen as a member of the 'evil rich'.    

Just something to keep in mind and perhaps try best to plan for.

 

 

Sun, 06/21/2015 - 14:29 | 6219579 Billy the Poet
Billy the Poet's picture

Only those who are dirt poor like the Clintons will escape redistribution.

Sun, 06/21/2015 - 15:18 | 6219680 GMadScientist
GMadScientist's picture

Yeah, that PC language has really shaken a lot of that $55T in American wealth out of the top 0.01%'s pockets.

Don't worry, noone will ever confuse you with nouveau riche.

Mon, 06/22/2015 - 07:28 | 6221297 Socratic Dog
Socratic Dog's picture

We are all aware of that.  Thus the "lead" part of it.

Sun, 06/21/2015 - 14:07 | 6219535 Rektors
Rektors's picture

I keep telling my wife to get ready to pull out a boatload of cash from the bank because of event X....but of course since every past event X hasn't resulted in THE panic...I gots no credibility anymore....equivalent to her rolling her eyes with each of my warnings. Fine, live in your bubble, I don't care, I've got my Zero Hedge poster friends who believe me.

2008: should have sold my stocks before the crash

2012: should have bought more bitcoin before it took off

2015: should have held more cash and bought more silver before....event X  err Grexit?

Sun, 06/21/2015 - 15:00 | 6219642 SmedleyButlersGhost
SmedleyButlersGhost's picture

Better years early than a day too Late

Sun, 06/21/2015 - 15:19 | 6219683 GMadScientist
GMadScientist's picture

If you wait until there is a panic, you'll never see that money again.

Sun, 06/21/2015 - 18:47 | 6220234 Zorrohodge
Zorrohodge's picture

Early Can be as bad as Wrong

Sun, 06/21/2015 - 18:53 | 6220251 Ginsengbull
Ginsengbull's picture

It's all about the timing.

Sun, 06/21/2015 - 14:07 | 6219538 Shibboleth
Shibboleth's picture

If you're first out the door, that's not called panicking.

Sun, 06/21/2015 - 14:12 | 6219549 morongobill
morongobill's picture

He's about to be shunned at the Country Club. Didn't he get the memo, we want to end cash!

Sun, 06/21/2015 - 14:14 | 6219555 Element
Element's picture

The irony of warning of bank runs, and then saying get your hands on cash, NOW!

Sun, 06/21/2015 - 15:46 | 6219759 Miffed Microbio...
Miffed Microbiologist's picture

I believe the intention of these two contrary statements is brain paralysis in the non compos mentis. My husband does this quite effectively to me. " Only the simple minded nut cases are good in bed"

Miffed;-)

Sun, 06/21/2015 - 19:24 | 6220332 willwork4food
willwork4food's picture

Yup.We have been in a deflationary economic earnings nightmare since 08, with higher food & material prices. The fear that the Fed will raise rates in September is alone deflationary whether they do it or not. I don't know if they will, but I believe it's all bullshit. They will finally print money like it's going out of style (inflationary), which, coincidentally it will be.

Why would they leave money (hard assets) on the table?

Sun, 06/21/2015 - 21:46 | 6220700 Element
Element's picture

hahhahah ... yer old man is wicked ...

Sun, 06/21/2015 - 14:20 | 6219564 brucekeller
brucekeller's picture

Stock market isn't going anywhere!  IF it had some mega crash, it would already be haulted and or transactions made void, like they did on the flash crash. There are way too many interests worldwide for that to happen, at least in any kind of forseeable future, pretty ridiculous to get worried about. Physical currency being made illegal would happen first.  

The market certainly can end up going very low for a very long time on a lot of stocks once all the QE runs out for good etc, but we'll probably have a war before then maybe like 2030 or a tad sooner, shrug.  Anyways, it's good to never be set as bullish or bearish for the long term, but to think the markets would just shut down, nah... maybe if a comet hit and it caused a firestorm that engulfed the world, stock type market might take 40-50 years to come back up nationally if a substantial part of the world lived(10%) markets in some form would start back much sooner.

Sun, 06/21/2015 - 14:37 | 6219597 Billy the Poet
Billy the Poet's picture

They can halt or freeze a market any time they want but in order for one to redeem the value of an asset there has be another party who is willing and able to purchase that asset.  Stocks won't sell if the market is halted or if buyers see them as not being marked to market.

Sun, 06/21/2015 - 15:03 | 6219647 tarabel
tarabel's picture

 

 

My guess is that the stock market either doesn't open on some future Monday or is halted in the middle of a day for technical reasons.

When it does get going again after days or weeks of delay, it will be at an entirely new set of prices as set by the "wise men" of the market. Probably about 10 cents on the dollar.

Then your stop-loss order at 95% of the previous price executes first thing out of the gate-- but a stop loss doesn't guarantee your price, just that you will be sold out.

And you will definitely be sold out.

Anybody who thinks that the people who provided the public with the elementary software of a stop-loss order haven't already figured out a way of tripping it to their advantage and not yours when they want to is going to get what they deserve-- good and hard.

Sun, 06/21/2015 - 21:56 | 6220715 Element
Element's picture

Yes, but they'll still have their pension fund and savings to see them though the bumpy bits.  ;-)

Sun, 06/21/2015 - 21:55 | 6220721 Element
Element's picture

Agreed all bruce, plus it would spoil the hourly news market report, so no way they'll let that happen, the advertisers would spit out their pacifiers, then TV lande would go down too. And we can't have that!

Sun, 06/21/2015 - 14:20 | 6219566 ShrNfr
ShrNfr's picture

Time to subscribe to the box or two of nickels a week club. Not as space efficient as gold or silver, but still no premium to their face value. Melt on a nickel is 3.7 cents.

Sun, 06/21/2015 - 14:27 | 6219578 DutchBoy2015
DutchBoy2015's picture

Get some of those big water cooler bottles and change all paper to coins and dig hole in yard.  It can't burn .  

Sun, 06/21/2015 - 14:42 | 6219603 MilwaukeeMark
MilwaukeeMark's picture

I live by a simple rule.... "At the first whiff of smoke, head for the exits. Don't wait around for the flames."

Sun, 06/21/2015 - 14:42 | 6219604 New_Meat
New_Meat's picture

"In other words, 6, 7, or 8 standard deviation moves that in theory should only happen once every two or three billion years may now start to show up once every two to three months."

That is NOT NORMAL!

- Ned

Sun, 06/21/2015 - 14:48 | 6219612 colddirt
colddirt's picture

I put all my money into Scotch, silver and a boat. Damn boat had a hole in it.

Sun, 06/21/2015 - 14:55 | 6219632 tarabel
tarabel's picture

 

 

That boat I sold you was just fine until you poked a hole in the bottle of Scotch.

Sun, 06/21/2015 - 14:50 | 6219619 ZeroPoint
ZeroPoint's picture

Interesting. A fund manager wants you to sell your equities for Benny bux.

Sun, 06/21/2015 - 14:51 | 6219622 cherry picker
cherry picker's picture

People are giving it up, they have no clue.

At one time grocery stores never accepted credit ards as it should be.

Then the credit card came in and to my surprise credit card customers paid the same price as cash customers.  We all know a certain percentage of sold goods is tacked on the price for credit card transactions.  Instead of selling goods and services as cheap as they can, they offer 'air miles' or trinkets, meanwhile I say give me the goods at a better price as I have money to pay for it and once I give it to you it is yours, no waiting or paying transaction fees and such.

Credit card transactions should be charged more as it takes a while for the vendor to recieve coin.

It won't happen as there are too many weasels making a living from this new system.

 

Sun, 06/21/2015 - 16:03 | 6219798 Thick Willy
Thick Willy's picture

In Germany credit cards are still not widely used.  People are embarrassed to be so poor as to buy something they can't afford using credit.  The stores don't like losing a massive percentage of every sale for nothing to the transactional middle man either.  If you really think about it, every vendor giving up 3% of every sale for "fees" is outrageous.  For an American all of this is very shocking.  We're used to swiping our cards everywhere all the time, even for $1 purchases.

Sun, 06/21/2015 - 16:58 | 6219942 DutchBoy2015
DutchBoy2015's picture

I live 15 minutes from Germany in the Netherlands and go there often to shop. My DEBIT card is accepted there as in rest of Europe.

Credit cards require you to sign here in NL.  I don't know of anyone living off CC's here. We are not poor like Americans.

Debit card you are spending your own money.

 

Sun, 06/21/2015 - 22:01 | 6220736 willwork4food
willwork4food's picture

Quite possibly because the baby boomers that are at retirement age cant retire here because their 20 something kids that are going or graduated can't find a job. Funny that.

Sun, 06/21/2015 - 14:54 | 6219630 shouldvekilledthem
shouldvekilledthem's picture

Cash is the same scam fiat.

Sun, 06/21/2015 - 15:20 | 6219685 GMadScientist
GMadScientist's picture

In other words, what's the point of having physical cash if noone in their right mind will accept it?

Sun, 06/21/2015 - 16:03 | 6219803 ZeroPoint
ZeroPoint's picture

I think Fidelity would like to you to sell your equities back to them. When this shit goes down, I expect huge losses in the market - but equities won't necessarily to go to zero, like cash will. This is the opposite play of what JP Morgan did just prior to the 1929 crash. He sidelined millions of dollars and bought up all the equities when the market tanked, making himself even more rich.

Sun, 06/21/2015 - 18:27 | 6220178 New_Meat
New_Meat's picture

sun tzu talked about spies and essentially said: "there is no substitute for inside information"

- Ned

Sun, 06/21/2015 - 15:07 | 6219657 goldhedge
goldhedge's picture

UK Gov Capital Gains Tax on Gold and Silver will disuade many from buying the stuff.

 

Sun, 06/21/2015 - 16:16 | 6219841 ZeroPoint
ZeroPoint's picture

Do they tax the buy or the sell or both?

Sun, 06/21/2015 - 15:12 | 6219671 In.Sip.ient
In.Sip.ient's picture

Sounds like Bill Bonner's warning message on cash is spreading.

 

!

Sun, 06/21/2015 - 15:16 | 6219676 Pancho de Villa
Pancho de Villa's picture

I see No mention of hoarding ammo, porque?

Sun, 06/21/2015 - 15:21 | 6219686 GMadScientist
GMadScientist's picture

Because fund managers prefer nail guns?

Sun, 06/21/2015 - 15:31 | 6219714 SmedleyButlersGhost
SmedleyButlersGhost's picture

I actually will feel sorry for the poor assholes who will be wandering around offering 'Cash'.

Sun, 06/21/2015 - 15:39 | 6219741 VWAndy
VWAndy's picture

That pic of the kid with the stacks of cash. Yea like that. Yugoslavia 90/91 ish?

Sun, 06/21/2015 - 16:07 | 6219800 SmedleyButlersGhost
SmedleyButlersGhost's picture

Don't Know that one but barter is even good now and even preferred for a lot of things here in the boonies . I can get Cash in exchange for essentials but not vice versa IMO

Sun, 06/21/2015 - 16:03 | 6219802 Tall Tom
Tall Tom's picture

AFTER THE CREDIT FREEZE...

 

While I am also betting on PMs in the first few weeks Cash will be so scarce as there is only $800 Billion in Physical Cash circulating to cover $10 Trillion in Deposits.

 

All of the ATMs will be down, the Banks will be closed, and the Credit Markets will be frozen. Your Debit/Credit Card will not work.

 

As people, most people, are used to dealing in cash there will be such a demand for those Physical Notes that you will be stunned.

 

The Government will react and start the actual Printing Presses and produce Physical Cash in order to satiate the demand.

 

It wil be at that point that all Hell will break loose and we will experience a Weimar Reublic Hyperinflationary Inferno, the likes of which you have not ever experienced.

 

THE SAME THING HAPPENED IN THE WEIMAR REPUBLIC. Cash became extremely scarce and the Government responded and overdid it. Then it was Lights Out.

 

It may not repeat exactly but you can be certain that it will rhyme. Yes it will rhyme.

 

(Actually it will be a great time to have Cash on Hand to pick up on some valuable Gold which they will trade for those ultimately worthless notes. Keep that in mind, SBG. Keep that in mind. It will be about a Six Week long opportunity.)

Sun, 06/21/2015 - 16:01 | 6219795 Not if_ But When
Not if_ But When's picture

A lot of everything can be traced back to when all the Big Banks went public (the last being Goldman Sachs in the 80's I think).  This aggravated by the overturn of Glass-Steagall by Robert Rubin/Summers/Clinton enlisting the aid of bought politicians Gramm/Leach and enough of the the rest of Congress

But I would like to see an expose on the true situation with TARP.  The program was fraudulently presented to Congress since Hank Paulson later turned around and presented the following to eight Mega Banks on 10/13/08:

Citigroup $25 billion, Wells Fargo $25 billion, JP Morgan $25 billion, Bank of America $15 billion, Merrill Lynch $10 billion, Goldman Sachs $10 billion, Morgan Stanley $10 billion, Bank of NY Mellon $3 billion.  This was under the "Major Financial Institution Participation Commitment" agreement/contracts that all the CEO's signed.  The contract that was reneged upon by all of them no consequences.

 

IMO, even these payments had little to do with what TARP really turned out to be.  WHICH WAS THE QEs which allowed these f*ckers to dump all their TRUE troubled assets and horrific gambling losses on the Fed balance sheet while they were allowed to the determine the (value) of these pieces of garbage.

I would very much like to see a qualified journalist show to the layperson how the Troubled Asset Relief Program was bastardized and largely misrepresented to the public as the $123 billion shoveled to the 8 criminal banks on 10/13/08 by an emergency decision by Paulson - rather than its true evolution into the Quantitative Easing programs which continued for years.  THAT is how the so-called Troubled Assets were really covered by a "relief program".  And the results of this are yet to be fully seen and felt.  Of course, even this wasn't enough as it had to be supplemented by ZIRP to even further serve the financial industry who almost destroyed the nation.

What the public was fed was the disgraceful movie "Too Big To Fail" hoping that Americans could understand what happened by watching a movie.  I sincerely don't know how Hollywood was conned into this.  I mean, the cast included William Hurt, Paul Giamatti, James Woods, John Heard, Billy Crudup, etc.  How could they be conned into participating in a Hollywood film like that one?  Much of the script for which could have been written by Lloyd Blankfein and Jamie Dimon, given the (mis)representation of the crisis.  That movie was a masterpiece of propaganda presented to a public who had great difficulty trying to grasp what had taken place.  A total success since it did, in fact, drive the perceptions of Americans about the financial crisis.

Sun, 06/21/2015 - 16:06 | 6219812 JPMorgan
JPMorgan's picture

Ironically IF they ban cash there might actually be queue's to put mattress money back into the bank.

No escape.

Sun, 06/21/2015 - 16:07 | 6219818 pazmaker
pazmaker's picture

Hey I'm looking for a personal loan to buy a small farm in Ecuador.  I need $40,000.   I'm willing to pay 8% interest anyone interested in lending let me know.   You are welcome to come for a visit to Ecuador as well.  Contact me.

Sun, 06/21/2015 - 16:33 | 6219882 NoPension
NoPension's picture

Take a check?

Sun, 06/21/2015 - 16:47 | 6219919 pazmaker
pazmaker's picture

sure if it is good. 

Sun, 06/21/2015 - 17:02 | 6219953 HamFistedIdiot
HamFistedIdiot's picture

If you have good credit and an income, you might try Lending Club, which might give $35K @ 6% as one of their better rates.

Sun, 06/21/2015 - 17:54 | 6220082 honestann
honestann's picture

Yours is a reasonable message, except for one thing.  You say nothing about how you will pay back the loan, as if sane individuals lend money without considering whether the loan is likely to be repaid.

Of course, if you're just posting a fun message to get across a point, then your message is just fine.

Mon, 06/22/2015 - 08:02 | 6221350 pazmaker
pazmaker's picture

Sure I figured I would give details to any interested party privately.  I am serious though.  I hold a full time job here in the US with just under a six figure income so I would pay from my monthly employment income  48 month term.   My father-in-law would oversee the farm for me and my wife with my wife making quarterly trips back to Ecuador(she is native to Ecuador)  I will make biannual trips.  A plan to move there once the loan is satisfied.

 

I did check out lending club and they are willing to lend me what I need but the interest rate is a little higher then what I wanted.

Sun, 06/21/2015 - 19:41 | 6220365 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Enroll in an online college and take out school loans....

Sun, 06/21/2015 - 23:23 | 6220876 e_goldstein
e_goldstein's picture

You should meet Simon Black.

Sun, 06/21/2015 - 16:24 | 6219863 Clesthenes
Clesthenes's picture

“It’s time to hold physical cash”.

Does this mean it is time to examine COUNTERPARTIES for cash?

After all, a money unit is the blood that circulates thru-out economies of the world; and no one thinks to examine the most basic factor of all relative to those money units, or cash.  And the world will pay dearly for such oversight.

When I was in the Navy, I was the lead electronic technician (ET) for a task force of 8 ships; when ET’s on other ships couldn’t fix gear, they’d call me.  Most of the problems were too simple for them to see.  For example, who would think to check the AC plug?  It’s the simplest thing that could go wrong, and yet, nothing happens without secure connections to power.  It would usually take me about 15 minutes to find this problem (more than once); and I never told them what I did; didn’t want to embarrass them.

We have the same problem today: people fail to consider the most basic of factors needed to secure capital: namely, our currency unit.

The most basic factor relative to all economic activity is a currency unit.  Without a stable or functioning currency unit, barter is the alternative – or will be the alternative when a baseless currency unit ultimately fails.  When that happens, fully 95% of all economic activity will cease.  It would lead to… well, let your imagination run wild.

Is the dollar a baseless currency unit?

We derive the answer by examining how dollars (and American bank reserves) come into economic existence.  They do so IN EXCHANGE for US Treasuries (directly or indirectly).  When banks need extra currency or reserves, they deliver US Treasury securities to the FR and receive IN EXCHANGE new currency or reserves equal to the face amount of such securities.

And what gives US Treasuries value?  Wishful thinking… nothing more.  They have value only because people worldwide believe the US Treasury can collect confiscatory taxes from following generations of American tax payers.  Government debt, thus, is a form of financial cannibalism.  The problem here is that, such taxes can neither be practically nor constitutionally collected.  For, you see, a man, or a generation of men, will not voluntarily cannibalize himself.  Hence, if such taxes are to be collected, it must happen BEFORE power passes from the hands of the cannibalizing generation.  And the time for this is long past; for, this type of cannibalism began some 150 years ago (with the National Banking Act of 1863; the Federal Reserve Act of 1913 is merely a reform of the NBA).

Unfortunately, owing to the mandate of Congress (thru the FR Act and debt authorizations), bureaucrats of the FR and Treasury are pursuing policies that can only end with the total destruction of the dollar and, owing to its status of reserve currency for the world, a few dozen banking systems that use the dollar as a reserve currency (Yen, yuan, Euro, English pound, Canadian and Australian dollars, among others).  (Bad News…; and Anat., part two)

Chances of survival are very slim for those 95% who fail to prepare for those storms now looming on the horizon.

What are preparations most essential for survival?

There are at least two: and each requires a comprehensive network of sub-factors: one) establishment of an alternative and functioning currency and two) the collection of power (thru First-Amendment assemblies) needed to protect your person and company from those who failed to prepare.  (What Price Gold…; and Failure of Power)

Sun, 06/21/2015 - 16:28 | 6219871 Moccasin
Moccasin's picture

I won't take fiat funny money or paper of any sort, it will be Silver and gold, nothing else will do in the crunch.

Sun, 06/21/2015 - 16:36 | 6219889 NoPension
NoPension's picture

And lead.

Sun, 06/21/2015 - 16:42 | 6219903 Bighorn_100b
Bighorn_100b's picture

Just ordered 825 rounds .22 LR.

Sun, 06/21/2015 - 17:12 | 6219974 Pancho de Villa
Pancho de Villa's picture

The Feds hold a near monopoly on ammo hoarding.

Sun, 06/21/2015 - 17:59 | 6220095 ThrowAwayYourTV
ThrowAwayYourTV's picture

If your talking about protection a .22 wont do much, you will be out gunned everytime. But if your talking about small game as a food source there are pellet guns that equal the velocity of a .22 these days. I have one called a Gamo and used to take out squirrels with it at 100ft. Very tasty when you're hungry. And ammo is only around $3

https://youtu.be/7RlK0Xd4c2c

Sun, 06/21/2015 - 18:30 | 6220180 SmedleyButlersGhost
SmedleyButlersGhost's picture

Drinks on me - again

Sun, 06/21/2015 - 18:28 | 6220182 SmedleyButlersGhost
SmedleyButlersGhost's picture

Agreed but I still have my Marlin 22 with a can. Zeroed at 100 yards no problem. The silent shot - no trace outside of 10 yards with a subsonic has a lot to be said for. But for a weapon - distance is key. 308 with a can is certainly noisy - but at those distances I don't care. Two shots and move - good luck tracking that at 500 yards plus.

Sun, 06/21/2015 - 22:20 | 6220779 Latitude25
Latitude25's picture

When you guys are shooting at each other I plan to be at least 100 miles out to sea.  Happy hunting.

Mon, 06/22/2015 - 05:20 | 6221200 SmedleyButlersGhost
SmedleyButlersGhost's picture

OK - I'll wait on shore - if you want to land, you better have a lot of fish with you! Boat isn't the worst idea - but after a lengthy stint on a ship - I will never fuking ever go for a float.

Sun, 06/21/2015 - 21:58 | 6220730 northern vigor
northern vigor's picture

I have been acquiring Ruger 10-22s..They can be easily coverted into an automatic, with 120 shot clips...for bunnies and squirrels of course.

Sun, 06/21/2015 - 23:58 | 6220922 Nimby
Nimby's picture

.22 is great for training, hunting small game, and disuading people from pursuing certain courses of action.  I started buying a brick a week about 4 years ago, and am sitting on almost 20K now.  I can turn one round of lead into all of your gold.  And your daughters.  now that's alchemy, bitchez!

Sun, 06/21/2015 - 18:48 | 6220236 Ginsengbull
Ginsengbull's picture

How the hell you order that many?

 

They usually come 50 to a box.

Sun, 06/21/2015 - 17:16 | 6219981 HamFistedIdiot
HamFistedIdiot's picture

Converting my stocks to Ag in 2008, and riding this fucker up and then back down, I wonder when will the DOW see another correction? Though the P/E ratio has gotten quite large relative to other markets, some commentators, like Catherine Austin Fitts, say that the Trans Pacific Partnership and other economic treaties that are rewriting the international legal framework giving corporations the upper hand in perpetuity, we may see the DOW go up quite a bit higher with no reversing. The US gov is under fascist control now, and corporations' monopolistic practices will continue without challenge. So who knows when the party's gonna end. Maybe the next 10 years will be more of the same, with a gradual worsening in 1st world living standards as the world "harmonizes" to a new neofeudal normal -- and PMs remaining in an imposed deflationary state for some time to come.

Sun, 06/21/2015 - 18:57 | 6220265 Moccasin
Moccasin's picture

I think you nailed it... and the silver lining is in your quote, "Maybe the next 10 years will be more of the same, with a gradual worsening in 1st world living standards as the world "harmonizes" to a new neofeudal normal..." and that is the 10 year time frame. It seems reasonable, 10 years or less to get it together or not.

Sun, 06/21/2015 - 16:43 | 6219907 q99x2
q99x2's picture

Hold Gold.

Sun, 06/21/2015 - 17:09 | 6219965 MellonBreath
MellonBreath's picture

As a drug king who for legal reasons must operate under an alias I have come to realized there was no future in drugs and have changed over to the raising & distribution of watermellons. They are highly addictive and can be acquired almost anywhere. Control the mellon market and you control the world. Fuck Jew bankers.

Sun, 06/21/2015 - 17:26 | 6220014 HamFistedIdiot
HamFistedIdiot's picture

Rather, "Zionist bankers." Hank Paulson, Barack Obama, and the Bushes are Zionists, but not Jews. I know quite a few Jews who are not bankers and who are not members of the Zionist, pro-Israel death cult intent on bringing about armegeddon in order to establish a new world order. Big difference.

Sun, 06/21/2015 - 17:52 | 6220078 DutchBoy2015
DutchBoy2015's picture

Sure but they all support Israel which is in fact a terrorist genocidal state of racists, thieves and psychopaths.

Sun, 06/21/2015 - 18:13 | 6220138 HamFistedIdiot
HamFistedIdiot's picture

Not all Jews support a nation state for Jews. But all Zionists do.

9/11 & Israeli Apartheid, The Kiss of Death for World Zionism

Sun, 06/21/2015 - 17:52 | 6220079 DutchBoy2015
DutchBoy2015's picture

Sure but they all support Israel which is in fact a terrorist genocidal state of racists, thieves and psychopaths.

Sun, 06/21/2015 - 17:27 | 6220019 bluskyes
bluskyes's picture

Creatures, and all manner of creeping things start behaving strange before major events. Whether it be storms, or earthquakes, or financial duress. He is telling people they should not buy what he is selling. This ought to sound like a klaxon to anyone with anyone with critical thought processes left.

Sun, 06/21/2015 - 18:37 | 6220208 Ginsengbull
Ginsengbull's picture

Too much bearish sentiment for them to crash the system yet.

 

When Tyler and everyone else goes all in, that's the time to short the living shit out of that muthereffer.

Sun, 06/21/2015 - 17:33 | 6220034 Magnum
Magnum's picture

At a car show today, some very nice classic cars would seem a decent way to store wealth if you have a secure spot to keep? Old vettes, etc. Or wait for the crash then pick up some on the cheap. Either way its off the grid type of investing.

Sun, 06/21/2015 - 18:35 | 6220203 Ginsengbull
Ginsengbull's picture

Uncle sam still has a copy of that title.

 

He knows you have that wealth, and he wants it bad.

 

How DARE you have a Vette, when he has to drive a cheap assed malibu or cavalier?

Tue, 06/23/2015 - 03:19 | 6224665 gladius17
gladius17's picture

The only classic cars I'm interested in are the ones which have big motors...and only because of the motor...which I'd rather swap into a beat up pickup truck.

Sun, 06/21/2015 - 17:41 | 6220058 ThrowAwayYourTV
ThrowAwayYourTV's picture

Last year I got tired of the Bankster paying practically 0 in interest for my savings while they lent it out at 18% to some poor bastard and took extravigant golf trips with the profits. So I took it all out and paid cash for a nice large parcel of wooded land out on the end of a dead end dirt road in the mountains.

Now all my cash savings go into a PVC pipe which is cleaverly hidden and I enjoy the total quietness and comfort of getting away from it all.

They are starting to give me a bit of grief though about wanting bank checks for large amounts of cash whenever I buy a high priced item.

Oh well, works for me.

 

Sun, 06/21/2015 - 18:32 | 6220195 Ginsengbull
Ginsengbull's picture

If by cash, you mean federal reserve notes, they can find them without too much trouble.

 

They have rfid taggs woven into the paper.

 

Better off sealing them up in a metalic pipe, and burying it under a bunch of scrap metal, like old paint and tar cans.

 

Something that nobody would want to dig through.

Sun, 06/21/2015 - 19:57 | 6220407 SmedleyButlersGhost
SmedleyButlersGhost's picture

At that Stage - the pipe has more value

Sun, 06/21/2015 - 19:30 | 6220345 JamaicaJim
JamaicaJim's picture

Very well, Mr One Week in.....welcome

Sun, 06/21/2015 - 17:58 | 6220099 honestann
honestann's picture

It seems like everyone suddenly realized the system is completely corrupt and ready to collapse... except the plunge-protection team, the federal-reserve, US government agencies, pension and retirement funds that are obliged to invest the way they do because the law so demands, and a smattering of completely clueless retail gamblers.

This is an interesting development, happened rather quickly, and strongly implies 2015 is the year the house of cards collapses.

Sun, 06/21/2015 - 19:38 | 6220360 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

The fact that they are now coming out of the woodwork makes me want to cover my shorts (sell my puts).

Time to buy the motherfucking all-time high!!!!!

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