Jim Rogers: Major Crash Ahead

[agchat]

Friend of mine always tells me " Only people that
worry in times like this are the people with
money, for they have the most to lose."

[sumdumguy]

Been listening to this for 5 years now. Never
should have listened to any of it there always
have been chickens in the coop. Oh that's coop.
Not worried, the gold buffs are hoping.

[sumdumguy]

Phoenix 64, I've been hanging my hat on
liquidity, to have cash readya if the shize should
hit the fan. How do you feel GIC's will protect
your capaital?

[blackpowder]

Parsley's my kinda chick. but forgot 100bs yeast
and some copper line.

[mcfarms]

Black powder
Steve Earl for 100 Alex.:-)

[mcfarms]

Crap
Forgot it's
Who is Steve Earl

[phoenix64]

Sumguy,

Feelin that we are in for a severe correction in the
markets, had a pretty decent gain in the last 18
mos and by transferring into gic's at least one can
protect the principle.

[liberty]

The problem with GIC's is that they don't really protect your principal. The true inflation rate is around 8%, not 1%, so if you have money in GIC's your principal is shrinking at a rate of around 7% a year. If you have a very solid idea of when a crash is coming, it pays to stick to GIC's for short periods of time. But if you stick to that strategy for years, then it can get costly.

[phoenix64]

lot of comments on this thread are referring to
anarchy and the end of the planet, not thinking it's
that serious but we could see another 30-40 %
correction in equities and people will lose once
again

[phoenix64]

I'm just goin with short term gic 1 yr max till this
craziness figures itself out then stick my head out
of the sand and see what's shakin