Friday, November 11, 2011

Stay on the Boat, Sharks Are In The Water

The more I look at what is going on around the globe, the more I see the results of corruption and greed on this beautiful planet.

Sharks are circling and they are after your wealth.

Call me a one-eyed gold-bug if you will, but watching the shameless acts of men as they pillage the hard earned wealth of the middle-classes, is something I read about in Old Testament Bible passages. Proverbs says; "the treacherous are caught by their own greed" and in Jeremiah; "everyone is greedy for gain".

Sharks they may be, but soon they will be eating themselves. That is after they've had a go at your savings and even gold.

Look at how the principles at MF Global sent out nice juicy commission payments to their London partners the day before they went bust. Perhaps they didn't know their liquidity was drying up? Yeah, right.

Remember the Enron, Madoff, Bear Sterns, Lehman and AIG debacles. Rotten goings on to the core.

See how the next step may be for our government here in New Zealand (and maybe yours) to steal your retirement savings. Using the 'unacceptable' losses made on these funds, in the current market situation, as an excuse to pass laws requiring, say, 25% of all kiwisaver or Cullen Fund money to be placed in safe Government Bonds. When no one else will lend to them, as the funding markets dry up, they'll come for yours.

Hungary, Ireland and France have all passed laws recently allowing them to use retirement savings to pay off debt. The US Treasury 'borrowed' savings temporarily to help with their budget crisis recently. I hope they paid that back... If you still can, take control of your own retirement funds.

Gold holdings may also be in their sights. Demonise the gold bugs and make it illegal to hold gold. Confiscate it even. It has happened before and Governments can do anything. Where is your gold? In a safe place, diversified jurisdictionally?

It appears the sharks are disregarding the rule of law and decency as things get sticky. Meat is hard to come by and you are looking increasingly juicy.

Have a good weekend.

Gold in New Zealand dollars: $2266.46 per oz
Previous all time high: $2284.16 per oz (19 Aug, 2011)

Silver in New Zealand dollars: $43.74 per oz
Previous all time high: $59.19
per oz (30 Apr, 2011)

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