Eric Sprott Recommends Having 80% of Your Money in Precious Metals…”I don’t mind saying that the money I own is 80% in precious metals.”
Grams Gold
3/21/2015
The GDP is 15 Trillion and the government says they have obligations of $80 Trillion dollars. Suppose you were a corporation – you’d be bankrupt!
You have to break your promises. Are the Social Security and government pensions fund going to be paid?
On a mathematical and accounting basis, there’s no possible way that it can be done, so I’d call it “dead government walking,” states Eric Sprott , Chairman of Sprott Asset Management in Canada.
“Today the classic example is the Greece situation, that made even more gargantuan promises. The next thing you know, you can’t retire at 42, you have to work till this age, we can’t pay you this, everything changed almost overnight.
So a lot of promises are going to be broken by pension plans and governments around the world.
I don’t mind saying that the money I own is 80% in precious metals. When I say that, I don’t mean 1 or 2% of your portfolio
– I think they should have a majority of their money
in precious metals. The older you are, the higher
percentage you should have, because it really is
a conservative strategy.
Governments aren’t going to declare bankruptcy. When it’s going to be over is when someone doesn’t buy the bonds anymore.
The Rest…HERE
