There Will Be a Sudden Catastrophic Shift as Control is Lost
March 22, 2012
With continued uncertainty surrounding the gold, silver, oil and global stock markets, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. This was a fascinating interview because he contrasted world conditions at the start of his career with what we are facing today. Here is what Fitzwilson had to say: “I remember very early in my career when I started in 1973 and we were in the ’73 – ’74 bear market. It was very frustrating because everybody was trying to figure out what to do and the reality was everything was going down.”
Robert Fitzwilson continues:
“OPEC raised the price of oil and at the time we were making gas guzzling automobiles. We had been encouraged in the ‘50s and ‘60s that energy was basically free and we should use a lot of electricity and natural gas. So it really threw a monkey wrench into the economy when oil spiked.
Meanwhile, we were all trying to figure out what the right investment strategy should be, but the truth was, at least in the equity markets, everything was going down….