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Re: Preparing the Remnant for the far side of the crisis
At 12:34 PM 9/18/97 -0600, Jim Burnes wrote:
>On Thu, 18 Sep 1997, Robert Hettinga posted:
>(and someone else wrote)
>> > In 1999, chaos will hit the financial markets, all over the world --
>> >assuming that this does not happen earlier, which I do not assume. The
>> >public will know the truth in 1999: THE DEFAULT ON U.S.
>> >GOVERNMENT DEBT IS AT HAND. The tax man won't be able to
>> >collect in 2000. The tax man will be blind. Consider how many banks
>> >and money market funds are filled with T-bills and T-bonds. Consider
>> >how the government will operate with the IRS completely shut down.
>> >Congress hasn't thought much about this. Neither has Bill Clinton.
Three more words.
"Buy Precious Metals!"
With the stakes of companies relying on bonds, and other companies using
those stocks as collateral themselves, I'm expecting a good ole fashioned
crash. Nothing that is not tangible will do.