The impending shut down of the US govt at midnight tomorrow, Wall Street’s new highs just before the inevitable cliff, the Global markets less inclined to invest in the Dollar & unrest across the globe, the US is at a cross-road. The next 12 months could determine the long-term viability of the US as financial titan. Instead of a house united we look more like a house of cards: one wrong move it will all come down.
In the midst of this turmoil, gold & silver continue to climb as a mirror to a decade long run of bad to out-right atrocious financial policies by the Fed and Wall Street. Banks too big to fail, sub-prime loans, Bernie Madoff among other charlatans took trillions out of the US economy. They have left the average American tax payer to pay the bills while they have moved onto reap higher bonuses & stock dividends. We wont even start to discuss the unemployment scene.
Metals are pushing to new levels. While still not at the 1980’s high when adjusted for inflation; they are being pushed forward as a safe haven from the aforementioned. This brings us back to the question at hand: Is the US on the verge of collapse? Not immediately, but the long term prognosis isn’t rosy. China & India will surpass the US in economic power by 2020 & 2050 respectively. The US Dollar is on the verge of losing reserve status. The majority of Americans are not prepared for these events, including Congress & the Fed.
Preparation starts with taking care of our own financial house. For the average person that would include a Tangible Asset Portfolio valued at a conservative 10% to aggressive 20% of your total net worth. This is diversified in Gold, Silver & rare coins that you take in your physical possession. Don’t be a victim of the atrocious financial policies of Congress & the Fed take charge and start your own TAP today. Read more here – CNBC: Could 2011 Be Worse Than 2008? Don’t Rule It Out