This Is Not A Drill: Economic Crisis Rant

[SlowDownFast]

This is an addendum to http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x31178

I'm not trying to be a scare monger, but I'm telling you, fellow DU'rs, if most of your money is in the market - get AT LEAST 50% out of it if you want to keep some of your money. The less you are in the market, the better. At least get certificates for your stocks if you stay in. What goes up, must come down, and the MARKET IS GOING TO GO DOWN SOON- not IF - WHEN AND HOW HARD.

I've sold 1/2 my positions and the only thing I'm in anymore are GOLD-BASED passive holders and mutual funds. The rest is in physical gold and silver. I've been monitoring the situation very closely, as some of you have, and when (not if) things start looking REALLY HAIRY (ie: MSM starts reporting the worsening economy with more frequency)I'll pull out of the market altogether (hopefully in time) and buy more bullion and pantry/household supplies. Gold is going to $1650 and higher. Silver to follow in a relative fashion. The only way to protect your assets from the falling dollar is physical bullion that is NOT in a bank's safety deposit box. You should also think about how much money you want to keep in your bank.

Reputable bullion dealers:

www.kitco.com (a bit pricey)

www.cmi-gold-silver.com/ (min 10oz gold, 300 silver). CMI is a very well organized website with excellent information.

www.apmex.com (better)

www.golddealer.com (best - $2000 min order)

Do not worry about numismatic coins. The only bullion (coins/bars/rounds - doesn't matter which) you should be interested in are the one's closest to "spot" market price.

Good forums to quickly learn about investing in bullion:
https://www.kitcomm.com/index.php

http://goldismoney.info/forums/
(don't mind the Ron Paul stuff - there are many very knowledgeable folks there)

If you are still interested in staying in the market but shuffling into precious metal positions, I can provide some suggestions - PM me.

There are already some good threads/info here in the DU Economy Forum, providing articles of a probable serious economic collapse, as well as precious metals being a hedge against inflation/economic crisis.

THIS IS NOT A DRILL!

Seriously, this is happening now, almost in slow-mo, as we approach Christmas. Wall Street/CNBC pundits are trying their damndest to downplay this. They want to keep everything propped up through Christmas at least (more spending) - but this is SO HUGE A CRISIS, THEY CAN'T CONTAIN IT. Yesterday, Cramer blurted out that 2 of the biggest banks in the country are going to go bankrupt. Then later, during MadMoney, he was pushing gold miners (stocks) and telling people they should own some gold bullion! When was the last time you saw a major financial pundit recommend buying physical gold bullion as a hedge against a flailing economy??? Never, 'cause it's never happened.

Don't wait too long to take action or it will be too late. When the MSM starts talking about all this with increasing frequency (it's already starting), and the message starts reaching Joe 6-Pack, it will be too late. DU'rs are a smart lot, and I know that many of you are aware of all this - but this post is for those who are not.

DISCLAIMER: I am not a professional financial advisor. My personal comments above are only my personal opinions. Due Your Own Due Diligence.

By all means, debate and discuss.