11-19-2008, 03:56 PM
I bailed on my 401k today, reading outlooks and some very horrible news from people I highly repsect, I'm done with my current stock holdings. I just moved all my current stock based holdings in my 401k to bonds. Still buying 100% in stocks tho, might as well buy low there, but Im done with losing current value.
check out this read:
<!-- m --><a class="postlink" href="http://www.marketoracle.co.uk/Article7363.html">http://www.marketoracle.co.uk/Article7363.html</a><!-- m -->
It's a bit extreme, but The G-20 might reset the financial system, which in reality is probably what is needed. Any fractional reserve banking system can not be sustainable and will at some point require a reset. FDR did it in the 30s. Maybe it's time again. Time to buy some Perth Mint Gold! This is why I chuckle at people who say gold has no value. Tell that to gold holders in 1933 who doubled their wealth overnight, and the people in 1980 who had it when it went up to $2300 an ounce in 2008 dollars.
check out this read:
<!-- m --><a class="postlink" href="http://www.marketoracle.co.uk/Article7363.html">http://www.marketoracle.co.uk/Article7363.html</a><!-- m -->
It's a bit extreme, but The G-20 might reset the financial system, which in reality is probably what is needed. Any fractional reserve banking system can not be sustainable and will at some point require a reset. FDR did it in the 30s. Maybe it's time again. Time to buy some Perth Mint Gold! This is why I chuckle at people who say gold has no value. Tell that to gold holders in 1933 who doubled their wealth overnight, and the people in 1980 who had it when it went up to $2300 an ounce in 2008 dollars.