11-19-2008, 04:22 PM
Breand Wrote: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:
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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.
I think we should all sign off as we bail from the equity markets. Then we'll know when we've reached complete Purge capitulation.
I'm still in, but man is it tough to watch.
"Hamilton is really a Colossus to the anti republican party. Without numbers he is an host within himself. They have got themselves into a defile where they might be finished but too much security on the republican part will give time to his talents and indefatigableness to extricate them. We have had only middling performances to oppose to him. In truth when he comes forward there is nobody but yourself who can meet him. His adversaries having begun the attack he has the advantage of answering them and remains unanswered himself. For God's sake take up your pen and give a fundamental reply to Curtius and Camillas" - Thomas Jefferson to James Madison