Bubbles are Popping
They used to call him “The Maestro.” That would be Alan Greenspan, the former Chairman of the Federal Reserve.
Greenspan knows something about bubbles, having engineered several of them during his 18 plus years as the chief money manipulator. The worst of the bunch was the housing bubble that burst in 2008.
Now the Maestro is warning about the current stock market bubble. The bull market is over, he says.
Suppose stocks were to run up a little from here, Greenspan speculates. If so, then investors better “run for cover.” He warns that that would make the inevitable drop more painful.
We’re moving into a stagflationary environment, says Greenspan. That’s a combination of weak or non-existent economic growth combined with climbing prices – price inflation.
Greenspan was even more explicit a few years ago when he warned publicly that the ending of the dollar’s role as the global reserve currency – a development that I have been writing about, one that is unfolding now — would result in wiping out the middle class and a quadrupling of the cost of living!
A few days ago, Bank of America reported that the exodus from the stock market was the second biggest ever, as investors pulled $27.6 billion from equity funds in a single week.
When investors run for cover from crashing markets and paper currency crises, where can they go? “Gold is a currency,” Greenspan advised a couple of years ago. “It is still by all evidence the premier currency. No fiat currency, including the dollar, can match it.”
In times of turmoil, of teetering debts and defaults, in times of overburdened borrowers, in times of monetary stress and international tension, in times of market crack-ups and breakdowns, gold offers protection, privacy, and profit. “Intrinsic currencies like gold and silver are acceptable without a third-party guarantee,” says Greenspan.
When its time to run for cover, call RME Gold and speak with one of our knowledgeable brokers for advice specifically tailored to you needs.