Its not pretty...and with the bankrupting of the rediculously large amount of fully margined accounts it may just get downright UGLY. It takes preparation not to find yourself in front a running freight train...I truly hope that many of you are prepared. On this blog what is happening is NOT a surprise, though apparently to a few analysts from Deutsche Bank, Citi and Goldman, who were "wheels off the wagon" bullish, they will of course be surprised. And though they are rank as amatures, have no idea what is going on and shoudl be summarily terminated, they will still get to keep their jobs. I guess helping people lose their purchasing power is a serious profession that pays highly. I am of the mind set that preparation is worth the hassle.
I hope that these patterns are wrong, but its nice to know that you are prepared, if you are, and will not suffer a huge draw down and damage to your purchasing power. The sad thing about a deflating market is that the money that the market manufactures by the simple agreement to pay higher prices completely vanishes. Poof, going, gone and gone...unless someone is short against those declines the money is completely gone. I work hard to preserve purchasing power and to attempt to keep some of that money from vanishing from the system. This is a part of me and my partners portfolio approach for the protection of assets. Douglass Lodmell (lodmell.com) has the some of the best asset protection structures available and we have worked together to design a rational and constructive approach to storing value and manage purchasing power fluctuations to a constructive portfolio approach for overall safety. We seek to do this in a manner that attempts to insulate from anything from collapses in the leveraged financial system infrastructure and equally from collapses and inflations in prices.
This safety thing is serious business, and I think more people should stop thinking about gains - and should rather be thinking about safety and their cash as an asset. That asset should be protected. Today, shorter term US treasuries traded at negative yield as I have been talking about. If the patterns posted in the charts below, play out - I believe that the yields will breakout for an extended run of negative yields whereby, to store your money with the US government you pay them 1%. I think that without this type of breakout the bonds would very likely enter a bear market. However, paying to store your assets, cash and otherwise, is not an new concept. If you want to custody your money at Pictet (which is linked on my blog) you have to pay them 1%.
We have been trained to think that banks pay you...but what you get in exchange for that is banks playing fast and lose at their casino...which is fine if you are Alan Greenspan, Ben BURNanke, Sandy Weil, Lloyd Blankfine, Henry Paulson, Jamie Diamon or a host of other wealth transfer and destruction specialists...but its not fine if you are a hard working and tax paying citizen.
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