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Europeans – Get Out While you Can?

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Lobo
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Europeans – Get Out While you Can?

Post by Lobo on Fri 15 Apr 2016, 2:14 pm


QUESTION: Hey Martin.
I’ve been a reader of your for years now. Thank you for everything you are doing. I live in Europe in Finland and I can feel this continent collapsing. Do I understand you correctly. You suggest that we Europeans open a bank account somewhere else, hold our savings in dollars and when gold bottoms we buy gold with our dollars. Is that correct?
Please answer Martin because I’m afraid to hold my savings in Euros in my bank.
 
ANSWER: Yes. So far, the USA is actually a tax haven for non-Americans. You can open a bank account in the USA which Americans cannot do the same overseas. You would want to do that before it is too late. If Britain does vote to exit, it will set off a contagion that will cripple the EU.

Gold should NOT be your only investment. You should consider US equities – blue chips. The dollar will rise and with it this will break the monetary system. It is unlikely that would unfold before 2018. Nevertheless, this could come in 2020. We get major monetary reform ONLY when the dollar rises. A declining dollar will will see US corporate profits rise. Only a rising dollar will break the system. US banks are far safer than European. Those preaching the dollar will be destroyed so buy gold now do not even understand finance nor do they comprehend history. It was the rise in the dollar in 1933 because of the Sovereign Debt Crisis in 1931 that sent the dollar to record highs resulting in its devaluation and confiscation of gold. In 1985, the dollar rose to all time highs sending the British pound to $1.03, which then resulted in the creation of the G5 (now G20) at the plaza accord. It is the high dollar which export deflation, with result in defaults of emerging market debt, and break the remaining pegs to the dollar by various countries. No such chaos will take place if the dollar declines.

Failing to understand the dollar and its role within this decline of the Western economies will cost you a fortune. Our forecast has always been a retest of support in the dollar for 2016 and then off and running. The dollar is still well within its long-term uptrend channel. Gold will rise but it is not yet ready for prime time. Be patient. The 2016 Gold Report will cover the timing when to buy. These people who constant cheer every rally as the launch of gold and the demise of the dollar live in a dream world. Nothing takes place in isolation. Everything is connected.
https://www.armstrongeconomics.com/international-news/western_europe/europeans-get-out-while-you-can/

    Current date/time is Thu 08 Dec 2016, 8:19 am