"Buy Farmland and Gold" advises Dr. Faber("Dr. Doom") --- Psst! Pass It On To The Unemployed

[Blackhatjack]

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7035913.ece

"The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

The bleak warning of social and financial meltdown was delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers. Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom.

Speaking today, Dr Faber said that investors, who control billions of dollars of assets, should start considering the effects of more disruptive events than mere market volatility."

SKIP

"At the heart of Dr Faber’s argument is a fundamentally gloomy view on the US economy and its capacity to service a growing mountain of debt. His belief, fund managers were told, is that the US is going to go bankrupt."

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[NightWatcher]

1. get back to the land and away from the cities

my SO and I are looking at some different spots out in BFE and are practicing some small scale crops. I'm working on a rainwater/graywater collection system that I hope to implement as well.

[county worker]

3. I recently moved back to the city from the land. The cost of getting from the boonies to

civilization got to me along with devaluation of the market value of the land and house. It's good if you don't have to travel away from home which means you can sustain yourself with what you have and you plan to stay for a long time. Me, I still needed a job in town to survive.

[county worker]

2. What is a social meltdown?

People with wealth feel that they can ride out any economic crisis but what about a social meltdown? Does that me that people go to the wealthy and say "up against the wall mother f....r"? How will wealth protect them in that case?

[flvegan]

4. I read this yesterday. It's very...interesting.

[Gold Metal Flake]

5. Buy guns. More guns.

More than that. No, just guns. More guns. Keep buying. Keeeep buying...

[Javaman]

6. buying gold is for suckers...

if society collapses to the point where people are using gold to pay for things, the very least of our worries will be the exchange of a "money".

read up on the Weimer republic, people were trading gold candle holders for a loaf of bread.

You can't eat gold.

Better to grow as much as you can, preserve it all and use that as barter, it will be more valuable than anything.

thus, gold will be rendered worthless.

[comrade snarky]

7. I'll get right on that

Just as soon as I'm done getting ready for 2012. Maybe I can reuse some of my Y2K stuff.

[earth mom]

8. Can't afford either and will just have to hope that our little patch of land is enough.

:yoiks:

[bvar22]

9. Gold is hard to chew, and doesn't tast very good.

We chose land with an on property source for clean water.