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I am not a fan of Gold. It robs our financial system of investment sitting in your safe. When paper $ is in banks, banks can lend it out meeting the required reserve ratios, but you can't lend out gold. Honest if chaos ensues what are you going to do with your gold? You can't eat it? Can you wire it to foreign countries? Invest like Warren Buffet in companies with a durable competitive advantage.. meaning regardless of times people will still need something from it. I'd rather own a farm that a block of gold. The best company is the USA because regardless of times we can tax people and all people have to work that have jobs. Sure Europe or Japan might not want your $ any more, but you can buy what ever you want made here in the USA. If you plan on retiring to any of those countries then sure, buy some investments there if you can afford it.
Take a wiki at the Japanese housing crisis. The writing on the walls of history state that regardless of what $ we put forth to "bail out" anyone isn't going to change the underlying reality of how much home you can afford at your level of income. We'll be back to normal home prices sooner than later and those who bought during the bubble will either have to take a loss or just stay in their home for 10 to 20 years until what they owe comes in line with the home's value.
That 700billion $ comes at an immense opportunity cost. If we've got 700billion lets spend it on new sewers so we stop having to drink and eat human and animal waste tainted with pharmaceuticals. Our sewer lines in most of the country are 100s of years old, crumbling with roots growing through them. Most people who live in a 100 year old home know that you've got to hire a company to drill through the roots in your pipes... Then all your sewage leaks into our ground water and people are all amazed at how pharmaceuticals got into our drinking water. We aren't paying the real prices for anything, so its a blessing that housing has this opportunity to crash back down to earth.
sorry just venting!
PS that youtube guy telling people to take $ from banks is a real idiot. All banks would fail and you'd have no where to cash your pay check. All banks can be run, they lend your $ to your neighbors and vice verse, its a great service that keeps our economy growing. That guy wants you to ruin the USA. I'd call him a terrorist.
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