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Things Change

 

When events and conditions change, I change too. I know there’s been a lot of confusion up to now regarding my position on the markets. As of Friday afternoon, these are my thoughts.

 

I had expected an upside blow-off to occur, based on the trillions of fiat money that has recently been created. I had also expected the world’s debt load to be lowered. However, I now see that instead of world debt heading lower, the debt load has actually been accelerating to the upside. The world’s balance sheet is now worse than ever.

 

I’m afraid that the prevailing forces of deflation will take over. If we go into a spiral of deflation, it will surely bring about hard times – harder times than the generations since WWII have seen. On this basis, I advise my subscribers to buy and hold physical silver and gold and be out of all common stocks.

 

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