I recently launched my personal blog because we entered a more advanced phase of this crisis — and because I want to do everything I can to help you get through it.
Plus, now that you’ve had the opportunity to read — or read about — The Ultimate Depression Survival Guide, my blog gives you a great place to give me your feedback, ask your questions and let me give you the answers you need to protect yourself and your family.
Right now, we are in a particularly treacherous hiatus — the eye of every financial storm when investors become numb to bad news, choose to ignore the dangers, and expose themselves to even greater risks based on the false hope that “the worst is over.”
Many are even allowing Washington and Wall Street hype to seduce them back into the stock market, while ignoring the facts that …
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The U.S. economy is still crashing — GDP is now plunging at an annual rate of more than 6 percent …
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Home prices are still plunging, mortgage foreclosures are still soaring, and the crisis is now spreading like wildfire through the commercial real estate sector …
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More than 600,000 Americans are losing their paychecks each and every week, while the number collecting unemployment benefits is now at an all-time high …
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The failure of Chrysler — and the likely bankruptcy of GM by June 1 — threaten literally millions of jobs at these companies, their suppliers and their dealerships from coast to coast.
And if you believe Washington will step in to save every giant company on the brink of failure, look again. Not only is Chrysler now in Chapter 11, but more people in high places, including FDIC chief Bair, are saying that the “too-big-to-fail” dogma should be dumped in the dustbin of history.
Whether these new voices prevail or not, this is no time to let your guard down! To the contrary, this may well be your BEST OPPORTUNITY to get your money to safety — to take the steps I prescribe in The Ultimate Depression Survival Guide, and get your family through the chaotic events that are still to come.
And it’s also the time to position yourself to profit handsomely with contrarian investments that are ideally suited for the next, more dramatic phase of this crisis that could now begin to unfold.
Just click this link to give me your comments on The Ultimate Depression Survival Guide … tell me what you’re doing now to get your money to safety … comment on my strategies to profit in the next phase of this bear market … and ask me anything you like.
I can’t give you customized, one-on-one advice tailored to your personal finances. But I promise that my team and I will move heaven and Earth to get you the best answers we can.
Good luck and God bless!
Martin
P.S. For more information on my new book, The Ultimate Depression Survival Guide, click here. For my recent one-hour video, giving you six steps to take right now, click here.
{ 124 comments… read them below or add one }
The ulra-short real estate ETF is down 80% from where it was when you suggested that it might be a good way to hedge against declining real estate values. SRS was introduced on the market at $70 per share two years ago and is trading at just over $20 today. Do you continue to view SRS as a legitimate security worth investing in?
I have followed your advice and pulled my 401k out of stocks and to the safest thing I could find in the plan. My concern is that JP Morgan manages our 401K. YOu list them as a bank of concern. Are our 401K’s at risk even if in a safe account?
Dear Doctor Martin,
Both my husband and I are subscribers to your Safe Money Report and have been reading your Money and Market newsletters letters and your blog continuously.
I just finished reading your Ultimate Survival Guide last week. Thank you for your insight. I really enjoyed reading the transcripts from your father’s letters. We have followed your advice from early on and put all of our money to safety. We also use hedges as with inverse efts. We have had this rally for several weeks now. As a result of which, some of our inverse etfs are as much down as -50%, -60% and even -70%. When this rally subsides, should we expect our etfs to come back up to at least what we bought them for and sell there? Because the losses are so high, we do not expect to make a profit on these inverse etfs, we just want the money we put into them back. Is it reasonable to expect, or should we sell the etfs at the next downturn and take some losses?
Thank you very much
SB
P.S. please keep my name confidential if you post this on your blog.
I have a good friend that works at morgan stanley and he gives me discount brokerage fees and I like working with him. I do not know of any other brokers in the area that I could use. I live in Redlands Ca.
I Have about 450,000 dollars in a Sep Ira at Morgan Stanley. It has 131,000$ in Silver Eagles and I am going to put 100,000$ into the Weiss Treasury only money market fund, and it has 219,000$ in 3month treasury.
If Morgan Stanly goes under is what I have safe.
Martin,
Great book. Facts. Clarity. Logic. No Hype. Reasonable Conclusions.
Lindley
Hello,
Love the book.
Moved 401K out of market in NOV2007″Dow13,800″
Savings in sound bank.
Own Gold.
Have stocks in Oil and gas.
My question is this, when the next down turn happens will it take the oil and gas stocks with it like it did in July2008?
Dear Dr. Weiss,
How long do you expect this rally to last?
What do you genuinely expect the BOTTOM on the Dow to be?
Thanks for everything you are doing,
Jennifer
Dear Martin,
I enjoyed your new book greatly. You write in a style that is very easy for non-financial folks to understand. Even my wife is enjoying your book.
Based on what I have learned, I sold my 10-year TIPS, dumped all but one mutual fund, and went to an almost all cash portfolio for my IRA. I even switched from a bank that I have been using for almost 60 years (now that it has an E rating).
Your emphasis on safety is supreme.
On another subject: Your white paper DSG0003 seems to have a serious error in the ETF table. The Average Maturity column seems to be up-side-down. SHY has about a 2-year maturity and TLT has about a 20-year maturity. Did I read it wrong?
Thanks,
Dave
I have just moved from a number of stock market mutual funds to the money market fund at Hartford Financial Canada. Now the market is climbing and my broker wants me to go back into the stock market funds. Are my funds in the money market fund safe?
Mr Weiss.
How is it that the public , lets congress give us this huge lube job?? Without even a whimper, Have we fallen asleep at the switch?? When the lights on the dash board of my car glow red , like out of oil , overheating and the other engine lights go on , we address it imediately, We dont wait for the system , To shut us down we address the problem , What gives here?? HELP
I am 64, 3/4 of my money is in CMO’s that are paying 6% on average; 1/4 is in a fund that is down 30%. It is 50/50 bonds and stocks. As the CMO’s pay out I have been just holding the cash in money market which is almost flat.
I am a Realtor so my income is down 70%. I am having to drain down my retirement fund to stay afloat.
What would you reccomend? Should I just wait for rates to rise?
Hi Dr Weiss,
Although I am still eagerly awaiting the arrival of your book, I do have a question I hope you can address (as it affects more people than just myself). We hear much from you about the situation in the US, but as a Canadian, I wonder what the situation is in my country. We’ve not jumped (as wholeheartedly) on the bailout bandwagon, nor are our banks (seemingly) in as bad a shape as in the US, nor is our housing market plunging as in the US. Given the close ties between the two countries, is it reasonable to assume that when the system goes kaflooey in the US, that we will be brought down, too? What about gold – bullion or ETF? I’ve heard that the ETFs invest in those holding the gold – ie: the banks and instituitions we’re trying to avoid. Comments? Kudos to you and your other writers. Blessings, Mark and Barb.
I would appreciate it if you would post your answers to the questions/comments on your blog as I’m sure they reflect the concerns of many. I realize that you have addressed most of it in the past, but after this rally I could use some reassurance. I don’t believe your timing has always been as accurate as your conclusions.
Thanks you.
I am Indonesia first give me if my English is weak.
I am interest in forex currency, what are your opinion that currency should I buy or sell?
Thanks for help
Dear Dr. Martin,
I have my brokage account at Bank of Ameirca Investment Services which is a subsidiary of Bank of America. Most of my money is in there columbia money market funds.. Is this safe or should I pull it out. I subscribe to your Safe Money Report.
Considering the estimated value of credit default swaps is close to $600 Trillion or 10 times the worlds GDP, will we not eventually get to the point we did during the Tulip fiasco where the only alternative is to declare all the contracts null and void. Is that not the only solution? Cancel it all so we can start fresh again?
Dear Dr.Weiss, You can help me by suggesting someone in the UK who takes your apparently detailed and insightful approach. The “experts” here all try to sell you someone else,s “products” which, once they have had their juicy commission, tie you in for years as they fall cataclysmically, as the “expert” disappears into the ether. We have worked HARD for 30+ years but are not financial market players but would like our pot to keep us (we are 65) and pass on to our daughter((£3m). We are extremely cynical now and have, by default, kept in pounds sterling— which we are now told is “living dead!” To say we are in a quandary would be a vast understatement. You seem to be one of the few who tell it as it is! Kind regards Jack. Hope you can help.
It appears a measure is stalled in Congress to modify home loans of owners who are
underwater by reducing principal down to 97.5% of fair market value in order to stop the
foreclosure mess. I am having trouble finding any updates on what is going on with this
program. If you have any info on this, I’m sure your readers would like to hear about it!
Dear Martin,
My husband has an fixed annuity worth $245,000.00 in an insurance company that has been down graded. We know if the insurance company goes down we will lose the whole annuity. We want to cash it in. We will have to pay the government $45,000.00.
If we cash it in we will come away with $200,000.00. We would put this money into an treasury only money market fund. Would this be a good way to go. Thanks, Patti
how can i access financial information that substantiates certain moves of the market. For instance, where is the daily production and useage of crude oil, lumber, etc. I kniow how to get the commodities prices, but the data behind the prices is what I am missing. If you could give us a table of contents of various financial information, for me that would be extremly helpful.
Martin, could really use an update on the safest banks and insurance companies, say the top 10. Thank you, Bob
Dr Weiss thanks for this opportunity. Awaiting your new book. I have about 100 k invested in stocks of which half in BAC strategy funds. Both are down considerably.
Would you suggest selling at a loss and get to secure bank? What about virtual bank Emigrant Direct? Thanks. FB
Dear Martin
My wife and I have 401ks both are primarly parked in cash. Aprox. 500,000 in the two we also have other savings aprox, 200,000 and a small amount of physical gold and silver.We are toying with the idea of closing both 401ks, paying the penalty and tax (40%) and investing (long term) in gold and silver. We are in our mid 50s in good health and hope too work for many years. I own a small bus. and she works for a major corp. our jobs and carrers seem to be safe for now. PLEASE GIVE US SOME ADVISE thanks
Dear Martin,
On your advice, I put my 401 (K) savings into short-term U.S. Treasuries before the last big market crash. THANK YOU! My question is: What do I do now? I am retiring in October and would like to earn a good return, but I don’t want to loose my nest egg.
With much gratitude,
WJW
I have a large amount of money in JP Morgan. Is it safe?
Also, you mentioned as a part of your service, ways to make money from home. How can I access this?
It seems people have bought “short ETF’s” on your advice without a net. This rally off the bottom has been huge and potentially the S&P will get to 950. The technical puzzle has been put back together piece by piece. have you made “long recomendations” with reasonable stops to make sure people gather in gains from this rally? did you mention stops to the people long the short ETF’s? You launched your $1 million portfolio the week the market bottomed. scared money poured in, good timing for you from a revenue perspective and was probably a perfect storm for you. this wasnt perfect for anyone thinking a massively oversold market was going way lower. I dont doubt your long-term negative view, but rallies of this magnitude cant be ignored. Should we not just let this market roll-over and give us a clear “sell signal” before guessing at a top, or for that matter a bottom? Ultimately I just want to be on the right side.
Best wishes.
CC
I sold ALL investments in my portfolio sept 22. 2008—-it is all still in cash–moved to schwab…..treasuries only .30 %—-my income comes from these investments but there is no income–I may live another 20 years! have 2 rent houses which are rented with ECLines from Wachovia—house I live I bought in july of 2005- for a bargain at the time!it is now acc to bank worth at least 80,000 less than my mortgage….have called wells fargo which is buying wachovia which bought my world savings mortgage….so far cannot get anybody to do anything about modification…..cant sell-cant rent-should i stop making payments? need to conserve cash in my IRA to live on..not make payments on a mortgage that is 80,000 more than their appraised value!…. I am only 74…I cannot take risks in the market ,,,where can I invest safely to earn?
Most of us read many commentaries and forecasts daily, and many are from ‘well qualified’ and experienced professionals.
But they differ radically in their views.
‘The worst is over’– ‘The worst is yet to come’ – Buy food and ammo”– ‘The bottom’s in’– ‘Back up the truck’
Furthermore, often you are forced to think ‘If they are so sure of the future, they should by now be so wealthy that they would probably have given up sending me emails every day’
How is one supposed to know which voice has got it right?
It would be as hard as picking assets in the first place
Martin what is your opinion on blackrock mutual funds, I have their Global Allocation fund A & C in my mine and my wife’s Ira. I also have this fund in my CMA acc. They are well diversified and have held up pretty well in this market considering the dividens and distributions. Also I am going to sell three other BR funds in these accounts which will put me up to 125,000 cash. I am Merrill Lynch. I am reading your book and it is very helpful. Thanks Nikki PS. I am 71
I need to know your thoughts on municipal and suburban ability to serve their citizens with safty, water, and other services. What do resident tax payers need to do to prepare for increase in costs for services? Especially for those on uncertain fixed incomes?
Dear dr Martin,
Your warnings helped me to be much more conservative in the market. I spent more w/ hedging. For me it does not matter where the market is going, the momentum is important and you pointed it.
I trade both equities and derivatives (options). I succeeded to compensate my pay cuts for the first 5 month of the year, and I could have performed about like your father if I was not so conservative. As you say, it is the time of big opportunities.
As an opinion, this rally should continue for psychological reasons. If the move up stops right now, the lack of confidence will increase a lot and many people will leave the market.
Could be some natural bounce back, but it is too early.
On the other hand, you should warn about bad practices in the market: Some companies, like Infineon (IFNNY.PK, previously IFX) start to trade OTC. Nobody knows where are there options (I had a nice return in my IRA, more than 233%, but they disapeared.) Maybe you should write about such practices.
Hi, I’m a bit confused by your recommendations for gold. I can’t figure out if you are saying to sell it now because you feel that we are headed into a deflation mode before we ultimately see greater inflation or I should sit tight because it has some more room to the upside. I assume what you are saying is that all the money our government is spending will take a while to push inflation higher. Do you see a chance that if I liquidate a large part of the gold now that I will not be able to buy it back before it eventually goes to much higher levels? I also hold my gold for security because I guess I am not as convinced as you that I should depend on “THE FULL FAITH AND CREDIT OF THE U.S. GOVERNMENT. ” I guess as a gold bug that I still feel that all paper could someday be worthless. Can you foresee the chance that eventually all world currencies will one day have to be backed by gold or some other real storehouse of wealth? Thanks
with out jobs there is no demand and the printing of money and huge sums being given to financial institutions is papering over a problem. The country has lost its manufacturing base and serivice jobs do not alleviate the situation. So long as finan cial interests control the gov’ts agenda we cannot expect a speedy recovery.
I am 64 yrs old. I have moved all my liquid savings account to an A rated bank as you recommended. The real estate market in central Fla is so depressed that my investment condo isn’t worth much more than I paid for it 15 yrs ago. However I am receiving a rental income. I made the mistake of investing 2/3 of my remaining retirement funds in a variable annuity at Hartford and AXA. I have moved all the funds to money market fund subaccounts within the annuity these accounts have had a negative monthly growth due to catastrophic losses. I obviously want to move the funds to have some subaccounts with positive growth. I feel that the most prudent move would be a bond fund. Correct me if I am wrong. Do I move them to bond funds now or wait?
What is your outlook on gold? I understand that in the late 20’s the gov. changed the value of an ounce of gold to just $35.00. Is the Gov. trying to push down the price now? Do you suggest selling or holding gold now? Inflation should drive the price up, however if the gov. controls the price once again, what do you advise?
i am 75 yrs old have all my money in an annuity and my house. cosidered taking a reverse mortgage. but opted for a line of credit.cosidered putting some borrowed , into stock market. but it is too crazy to fool with . should i even cosider this with borrowed money
Dear Martin, like many others I invested in the inverse dow 30(dxd) prior to March 2009. Not believing that the rally was for real(and I still do not) I have ridden this down. It has been a real test of faith. If I continue my gut and brain feeling, I will hang in there. Putting you in my shoes, would you be starting to feel a little nervous?
I am a Safe Money subscriber, I read Money and Markets every morning right after OI read the obituary in my local paper, and I am starting my second reading of The Ultimate depression Survival Guide. This time I am making notes. I greatly admire your perseverance and logical reasoning to substantiate your beliefs. I sure hope you are right.
It is all true,we have horrible fundamentals in almost all countries.But,we still can be in a bear market bounce,and in this period the returns can be spectacular.the Tirck is to get out before the music stops.That is where I believe we are,and have been.during the depression the bounce was significant,and then the return to the fundamentals occured.
I want to ask a question. Your generalized answer can provide my answer.
A Deferred Compensation Plan contains my savings, however it lost a considerable amount of value and the stock funds were converted to a money market fund with in the plan. When would you say is the appropiate time to leave the money market and return to the stock part of the plan?
Having read your articles, it is thought a return to the money market will be required, but can the funds now be returned to stocks for a time to recoop lost value?
Thank you so much for not only your accurate and timely advice but also your ACTIVE role in attempting to alert Washington. It is so frustrating to feel that I have no voice in what is going on, even considering letter after letter to my congressmen – to no avail or answer. It is comforting to know that someone with your stellar background and history is trying to take this on. I am not sure if our government believes that we are to stupid to see the truth behind all of what is happening or if they think that if they spread enough ‘false cheer’ that we all regain confidence.
I am a member of your “Safe Money Report” and feel blessed to have someone showing us the way and have followed your advice for those funds that I do not have in my 401K. But, I do have a question regarding my 401K. The options I have are limited and I have moved all of my assets in a capital preservation fund called a “Stable Value Fund.” Thus far, it has held up alright but I have concerns. These funds are backed with insurance contracts on their value and if insurance companies are now facing potential defaults, should I look into the possibility of rolling my 401K out into an IRA (if I can do so without leaving the company.) Thanks in advance for your opinion on Stable Value Funds in general.
I am playing the current situation as a “bounce” – ready to pull out at a moments notice-just how safe is my “bond ladder” of a/up bonds???
We have some EE and I bonds that we purchased about 10 years ago. Cash them in or continue to hold?
I just watched your latest videocam. You indicate that, since the Federal
Reserve and the US Treasury have pumped 14 Trillion dollars into the
economy recently, the result is going to be gross inflation over time. I believe you used the phrase inflationary depression. Since these federal
govt. and Federal Reserve funds were not just gifts but were loans and equity positions in banks and insurance companies, I fail to see an inevitable hyper-inflation as the result. Perhaps you could give some
specific details on why you are so sure this will be the result.
I subscribe to Safe Money and rely on it’s advice. However, I live in the Houston area and last year hurricane Ike cut off all my communication for a week just before a big drop in the market. It was during that week of total blackout that you issued two sell warnings that I missed – no power , no computer, no phone. Land lines were down and the cell phone was unusable. As you predicted the market dropped sharply the next week.
What advice do you have for anyone caught in situation like this?
Dear Dr. Weiss,
I am from the U.K. and traditionally there has been the understanding that we have a 6 month lag. However Gordon Brown did a slightly quicker papering over the cracks, so maybe the time lag is greater? I know that the quantitative easing can only ultimately have one effect but how long before we really see the effects in our at present mostly stagnating property markets, for example? How similar are we? Even some convinced monetarists seem to be hoping for the best. I cannot quite believe it. Cannot see anyone doing here what you are doing. Best wishes.
Many times i have heard that gold is a suckers bet.Since you appeal to those of us who are adament about conserving our liquid assets through low risk investments i am only hanging on to 22 ounces of gold,715 ounces of silver and 15000 in cash and also 15000 in dreyfuss us treasury funds. I am of the opinion that your reputation is kind at stake with your choice of gold as a mainstay of a conservative portfolio.I would rather follow your advice than a brokers, as my experience hasnt been a pleasant one.I also have bought shares in KMB,Procter and Gamble and Suncor which you had said were good stocks.
I am getting out of equities selling on rallies like yesterday. Parking everything in a Schwab ST Gvt. Bond fund.
I am also reading the Ultimate Depression Survival Guide. Easy reading with lots of good information and clear action items. I have offered to get copies for my two sons IF they will commit to read the book.
The real challenge will be what to do with the accumulated cash and when to do it. Leaving it in the bond fund earning 0.1% is no way to go.
Dr. Weiss
I have been impressed by your book. I plan to read it again with a hi-liter in hand so I can refer back easily. Thank you for all you are doing to help us realize and understand the crisis. As a normally positive person it’s difficult for me to listen to the
feel good information from talking heads on TV etc. and not want to follow. I’m following your advice and selling stock against brokers advice while trying to catch up through other tips you have suggested. As a retired person I hope one size suggestion fits all? If not I would appreciate some tips for the people who don’t have as much time and opportunity to play catch up!!! Thanks again
Your book is a valuable asset to all investors. I have a considerable sum in Vanguard GNMA. i realize that I’m covered up to 250,000 but really, how safe is my investment?
I have read your news letters for some time, and I have read your book. But I am still at a loss about which banks [if any] are safe in BatonRouge,La.? Also I would like to know if my money in Chase securities is safe? Thank you …CLAUD M. IRWIN
Dear Dr. Weiss,
I’m enjoying your book very much. I know very little about investing as that was my husband’s interest and I happily left it up to him. He was 12 years older then myself and passed on in 95. I kept the home which was expensive to keep up, for too many years in hopes I wouldn’t have to sell. We made a mistake after selling the home in the city. He wasn’t ready to downsize though he had retired early from the Air Force. So we bought land and had a lovely country home built with a large mortgage. I sold that home and bought a smaller less expensive one 3 years ago, in July 06. Though I didn’t know it at the time, I sold it by the skin of my teeth as they say. Sales here on the island if not all of greater Seattle, all but stopped Aug. 06.
What small amount of money I do have is tied up at the moment and it’s not in the market. I do enjoy reading your bulletins in hopes of knowing what to do when and if it becomes available.
What I’m most concerned about at my age is whether Social Security and my military widow pension will continue to be paid? I expect there are lots of others that would like to know that answer. It feels like we’re living on another planet these days with all the talk of the country being broke, yet continuing to pay massive amounts to banks that seem too far gone to save. I long for the former world that’s been left behind. This world seems like a bad dream.
Thank you for all you do for everyone. Your dad would be more than proud of you!
Blessings,
Sally Harrington
The book resonated immediately. Sold everything and have gone to T-bills. No doubt in my mind you got it exactly right — thanks. Now I have started using inverse ETFs for trading — it took me a couple of days to get my head around it, but now I get it. Your book lays out the geography and now allows me to organize what I have seen into a coherent picture that makes sense. Bless you for writing such a “handbook.”
So far the finest book written on the way to survive this crisis which I have read and this is 14 books to date.
Also on CHRYSLER: IF THE UAW IS PART OWNER , IF A WORKER COMES TO WORK DRUNK WHO WILL PUNISH HIM OR HER? I AM REAL CONFUSED SINCE I THOUGHT MANAGEMENT WAS THE FINAL SAY IN COMPETENCE.
Good Evening Dr. Weiss
I DO WISH TO REPEAT WHAT YOUR PREVIOUS SUBSCRIBERS HAVE ALREADY SAID SINCE MOST OF THEIR CONCERNS APPLY EQUALLY TO US NORTHERNERS ( CANADIANS).
OUR COUNTRY IS THE HOST COUNTRY FOR THE WINTER OLYMPICS IN 2010.
TO DATE THE VEHICLE SUPPLIER HAS WITHDRAWN THEIR SUPPORT (GM COMES TO MIND). THE CONSTRUCTION OF THE OLYMPIC VILLAGE HAS BEEN TAKEN OVER BY THE CITY OF VANCOUVER BECAUSE THE SPONSOR(S) PULLED OUT.
ON TOP OF ALL THE FINANCIAL WOES, HOW WILL ALL THE COUNTRIES (INCLUDING THE USA) THAT NORMALLY PARTICIPATE IN THE OLYMPIC MOVEMENT AFFORD TO SEND THEIR ATHLETES ,IN MY VIEW, TO AN EXTRAVAGANT SHOW CASE THAT LAST 2 WEEKS?
TO DAY OUR FEDERAL GOVT HAS ANTE UPPED BIG TAXPAYERS DOLLARS TO SUPPORT THE CANADIAN COMPONENT OF CHRYSLER CORP. TO TOP IT OFF THE GOVT IS NOT ALL THAT OPTIMISTIC THAT THE LOAN WILL EVER BE PAID BACK.
FOR DECADES.GOVT(S), BUSINESSES, MANUFACTURING AND SERVICE COMPANIES HAVE STRESSED THE NEED FOR MORE AND GREATER EDUCATION OF THE MASSES.
LOOKS TO ME THAT PARENTS,GRAND PARENTS AND GUARDIANS OF THE NEXT GENERATION SHOULD BE ASKING THE LIKES OF YOURSELF AND YOUR COLLEAGUES WHERE YOU ATTENDED YOUR POST HIGH SCHOOL ACADEMIC SCHOOLING AND, MORE IMPORTANTLY, YOUR WEALTH OF EXPERIENCE AND COMMON SENSE APPROACH TO VERY COMPLEX ISSUES?
THANK YOU FOR THIS OPPORTUNITY TO WRITE TO YOU. YOUR DEDICATION IS APPRECIATED . JIM
What about offshore bank accounts? Good idea or not? Where is the best place for an offshore account/ How can a person access foreign markets more easily..Thanks George
What are your thoughts on fixed index annuities? How safe are the insurance companies, such as Allianz and aviva. Are there any rating systems that can betrusted to do an honest evaluation of the insurance companies? I am retired and do not like the market at all. Thanks;
i have given everyone i care about information from your group, to read and get their own conclusions. i got your book and gave it to my banker manager to read, as i like them, we have had a good business relationship, and he started reading it on the steering wheel on the way out of the parking lot…. the closest a/b bank near us is over an hour away.. but we have made changes. our family is pretty much bankless, only a bare minimum in the accounts. several people i know have unexplainable reductions in their bank accounts. a relative had everything taken for back money owed to the government without warning. a couple others had their tax refunds accidentally missent. but one has their funds back. i wonder how many others are having this type of experience? its not something anyone would like to talk about. personally, i went to a weekend seminar on stocks, and learned how to make money going up as well as down. i personally think this is all manipulation to get control of as much of everyone’s wealth as possible. nothing more or less than out of control power and greed. we see it with the stimulus payments. we get advice from bankers and get bad loans, they get credit and bonuses, what we have paid is gone, and we lose the home.. THEN we are told WE have to pay it back too?? if you have a savings, and take some out to get something to avoid a loan and interest, do you have to pay interest to put it back? of course NOT.. this type of gouging was why we left england folks. usury is even in the Book.. as wrongful, as in the Roman days. and Rome fell.. i see it as writing on the wall .. we all know we have been skidding, and have kept hopes, false hopes. but i wonder, what then? i do not have stocks, i have a mortgage and a job so far, so i am fortunate for sure. i have cash reserve now at home. but not 6 months worth, as we are ideally supposed to have. it is hard to think the worst and long term if you are not familiar with the depression. more information please?? thank you for caring about us and our country.
It is my opinion that a rally is a rally, whether it be a bear market rally or the start of a new bull market. Predicting the future of the economy is one thing, but predicting the stock market movement is a different story. What has been much more successful for me is a system that follows the current trend without attempting to predict it. There are number of market timing services that have done very well, despite conventional wisdom that “you can’t time the market.” That may have been true in the past, but with today’s technology and long and short ETF’s, making consistent, large profits is not complicated. The particular service I subscribe to trades only QLD and QID and is ahead by more than 150% since it went live in August 2008, and this is with an average of less than one trade a month. The current position bought QLD on 3/17/09 and is up about 50%.
I am reading some very interesting Q & A, where are your comments / answers to be found. Thank you.
Dr. Weiss:
Thank you for all you’re trying to do to help people survive this financial mess!
You sent me a message thanking me for buying your book; however, my purchase didn’t go through to check out. I will try to get through another time.
I desperately need to find a way to earn dollars on the Internet. I took 4 or more courses from AWAI, and decided the niche I wanted was Catalog Copywriting. Then the bottom fell out, and I haven’t been able to find clients. When I find something I can afford on the Internet, I usually go to any negatives others have written. Most have so many negatives I am scared off.
Thanks for all you do. Ruth
We haven’t finished reading your book yet.
Took all our $ out of Edward Jones IRA and bought a Fixed Annuity from AVIVA (a 300 year old co. that has never had a annuitant lose money). A portion is attached to the stock market – when increases, our total increases; when it falls, our total stays the same.
Small balance put into a CD at a wells fargo as an emergency fund.
We don’t believe the stock market has stabilized yet, either.
Martin,
What is going to happen when the vast majority of loans on homes are in excess of the value of those properties? It seems like an awful lot of people are going to be in this situation with the scenario you present. I just can’t imagine what the outcome of this scenario is going to be!
Dr.martin,i would like to know,if my investement is sured i have invested through the bank jp morgan in mutual found agresive stock, and my money go up and down,and actually the invest is scraping the floor.how you see it.thanks.
I’m a single mom and I have a 17 year old son who will graduate next year and wants to go to college. I’m and engineer with a local water dept. I was diagnosed with schizophrenia in 1999 and suffered immense mental and financial setbacks in the past decade. My mental condition has stabilized but my finances are in ruins. I have a mortgage which I can afford( I got a fixed rate at 6.1%- I pay $600 per mo w/taxes, insurance included). There is zero equity but not negative equity.But I got behind and and can’t seem to catch up. Its going to go into foreclosure if I don’t do something right away. I have $7000 in cash and I am so mentally overwhelmed by all the information coming at me I simply do not know what to do with my cash. Should I buy gold? Should I get my mortgage caught up or just let the house go and move to an apartment? I really didn’t want to uproot my son his last year in school. I am trying to keep him informed about what is happening without scaring him of course but I feel he should know the truth and be prepared for the hard times ahead. I know ultimately the decisions are mine. But I just wanted other people to know another person’s situation. I have hope and believe in the power of truth and honesty. I also want to thank Martin Weiss for his selfless acts of courage in warning the rest of us. Thank you so much Martin. If anyone has any suggestions to help me make some decisions please let me know. We are definitely all in this together. Peace and Love!!
Dr. Weiss,
Enjoy reading your Safe Money Reports and weekly updates; happy to see you’ve started a blog. I’ve moved $100K out of IRA’s and brokerage on your recommendation and am currently with Fidelity (moved out of UBS) in a money market that’s one step below their Treasury-only acct as it closed before I could get in (seems like many of these types of accounts are now closed to new investors). I’ve been sleeping better ever since. Haven’t bought GLD or any of the other “Mr. Speculator” ETFs as you make no reco’s for putting in stop losses–seems reckless, no? I’m not a day trader; just want to know my money is not going to drop another 25-30% if the market continues up and I’m sitting in inverse positions without any safety net. I think you may have missed the boat on helping people understand this aspect of investing. We are saving everything we can and not planning to put another dime into the market until sanity returns. Am looking into investing in a viable business that will generate income the old fashioned way, and in depressionary times. My gut tells me this rally is a bear trap, too, and that market will go much lower than late Mar 09 when this little party is over. My husband is a real estate appraiser here in CA (north of SF) and he sees property values declining still despite media attempt to convince us we’ve seen the bottom. We bought in 05 and may be forced to “walk” if bank won’t come clean with a modification to get us out of our adjustable (we’re underwater, like everyone else in CA who bought in the last 7 years, whether they realize it or not). I’d like to hear your response to CC in the post from earlier today.
Thanks for all you’re doing to warn people.
My friend has only about $10,000. that he can invest now. Should he take the safe money and just it by 10% or something else?
I THINK PUTTING SAVINGS/CHECKING INTO THE TREASURY MM FUND IS A WISE IDEA. EVERYONE I SPOKE WITH TODAY SAID IT IS MUCH SAFER. HOWEVER, I AM CURIOUS AS TO HOW SAFE ANNUITIES ARE SUCH AS ALLIANZ WHICH IS A FOREIGN (GERMAN) ANNUITY OR WESTERN SOUTHERN WHICH IS AN AMERICAN ONE. I READ SOMEWHERE THAT DURING THE DEPRESSION THE ONLY THING THAT MADE IT WAS THE INSURANCE COMPANIES. WHAT ABOUT ANNUITIES. AND IS IT STILL TRUE ABOUT INS. COS.?
WHAT ABOUT CREDIT UNIONS INSTEAD OF BANKS. IS THERE A SAFE AND NON-SAFE LIST FOR THOSE ALSO. ARE THEY PREFERABLE TO BANKS OR IS EACH ONE DIFFERENT AS I SUSPECT. AGAIN, ARE THERE SAFE CREDIT UNION LISTS.
Dear Dr. Weiss,
When do you think this rally will end?
What do you think will be the ultimate low on the Dow?
I am short the S&P and pretty seriously under water. Will it turn the other way?
Many thanks for your generous and gracious spirit.
Jennifer
hi martin i would like to thank you for all the imformation you have givin me i am australian / british i do think what happens in america affects us all and like australia and britan has its problems but i still but i still got your book but i do wonder what i can do with aussie british money iam in cash and no property so thank you martin
Dr. Weiss,
Who to trust??? So hard to know just what to do during this crazy time……… Well I chose to trust you, Dr. Weiss.
I purchased your Depression Survival Guide thank you thank you, enlightening to say the least. I skimmed quickly to make changes now. I had my husband move my sheltered savings account from the stock market accounts with Prudential into their Guaranteed Income Fund (GIF). It is actually now in the Prudential Retirement Insurance and Annuity Co. (PRIAC) Now I find it it is not FDIC insured. UGH. Did I do the right thing…..? Now really worried.
thanks for any help……………………….
Diane
I Have ordered but not rec’d your book yet. I want to invest in gold, but do not understand what’s best coins to purchase. i am thinking smaller coins like 1/20th oz. or 1/10th oz. pieces- even tho this approach is more costly. I think it is better to physically have it in posession rather than holding paper. Also considering using IRA
to buy gold-in five years i will be of age to take it out of account physically. Read your
emails always–very important to me. THANKS
Dear Dr. Weiss,
I would like to share with you my thoughts pertaining to the current economic crisis. I realize that this crisis is a gobal crisis that was created by the greed of Wall Street investment firms and ultimately the greed of mankind. Unfortunately we all have to deal with our mistakes. I sincerely believe that the only way we as a country can resolve this crisis is by the devaluation of assets which are reflected on the balance sheets of all american banks. We as nation that lead the rest of the finanicial world, need to set a precendence : All finanicial institutions uniformily have to recoginized the inflated value of their assets, therefore it is my belief that all assets have to be revalued to a realistic and liquatatable value. I believe that all assets have to be devalued by at least 65 % percent of their current book values. In addition to the above recommendation I firmly disagree with the fact that this nation believes that certian corporations are to big to fail. Unfortunately Wall Street believes that the american public will continue to wok as their slaves, unfortunately slavery never worked in the past and it won’t work presently. I also recoginize that the american economy drives the economies of the world, in refrence to my previous statement the IMF also has to uniformily devalue their assets and all forgein countries and their finanical institutions also have to do the same. We as a gobal finanicial society have to work together to resolve this crisis. The reality that no one is willing to face is that based upon all finanicial data the United States and all of the G-7 nations are virtually bankrupt. I would appreciate a formal response from Dr. Weiss. Sincerly,
Concerned American
I am 71 and retired. Great Book. Agree with you and want to know what to do now? I had to start taking money out of my IRA and the bleeding has continued.
Dr Weiss,
Your book is outstanding to say the least. I ordered copies for my sons who still believe, “Things aren’t that bad yet”. To them I say, “Just wait a while.” I was born in 1930 and although I was too young to remember business details I knew that my father had lost his business and day-to-day living was very tough from there through most of WWII. The story was much the same for most of our relatives and neighbors. As a career Army officer, I pray that this nation will never have to go through something like that again, and I would fight again if I was physically able to prevent it. Your book and the services you offer can play a major role in getting people through what I fear is coming. To my knowledge, there was nothing like your service in the 30’s. You are doing a great service to your country and I personally thank you!
I fortunately subscribed to your service several years ago. This got me started on using a Treasury-only Money Fund for most of our checking needs. It also made me cautious about leaving money in stocks during uncertain times which fortunately caused me to go into Treasury-only for my IRA and avoid the recent catastrophic losses.
Unfortunately, I did not continue with your service from about 2000 on, which I’m now sure was to my disadvantage. A few weeks ago I went to your site looking for bank ratings and was pleasantly surprised to see the great variety of services you now offer.
I am convinced that we should have a significant portion of our investments in gold and silver as a backup if currency collapses. My question is what percentage should be in precious metals? (Claus Vogt today tells us gold will be moving higher as do several other sources. On the other hand Principle 1. On page 138 of the Survival Guide cautions us to keep a reserve on hand with which to buy stocks, bonds, gold etc. at the bottom.) I am considering converting some of my IRA to precious metals, but how do I determine the reliability of the trust companies that do this and the banks they are using? Following this I plan to begin following your guidance in Chapter 8 and subsequent.
I realize you cannot answer specific questions on your blog, but I am hopeful you could refer me to some of your past articles that would be helpful.
May God bless you and your staff!
Ditto all of the above. I have never invested in anything. I need to know who do I contact to buy Treasury, Gold or Silver stock. thanks charlie
Likewise I think many of us who are holding inverse ETF are seriously under water – the only good thing is that there’s no margin call. My concern is that the pumping up in equities is a byproduct of the stimulus packages and bailout money leaking into the market. If this continues I think that the institution money (most on the sideline right now) will eventually jumped in and push the market further up. Fear will subside and consumer will start spending again and unemployment may tapper off or starts to decline (a sign that the recession is over). I think that the FREE trillions that the banks are holding will flood the economy and we’ll have unimaginable inflation. I fear my inverse EFT positions will sink to Atlantis. I know it’s not good to hope for this — but – I hope that the deflation forces (debt) are too great for this market to overcome and that the decline will resume again.
Do you see this scenario unfolding?
Dear Dr. Weiss; Im really enjoying your book, however some of your revelations had made me angry. Many of these bankers, brokers and so called leaders should be in jail.Ive liquidated many of my stocks but still have some reits and mut.funds because they have yields in the high teens. Is this wise? I love the 12% letter but cannot buy all, where should I start?
Respectfully
Carl M.
Hello Martin. Great book! However, I want to see a definitive/ authoritative book on the safest step by step method to invest in HYIP’s. Also I want to know the exact steps required to get commercial remedy, using the UCC. Thanks!
My husband and I are both retired. We have lost 40% of our small life savings. We read your book. We know that you said to put everything in T-bills, but our financial advisor says that it’s silly to put the balance of our money into short-term treasuries only to pay a sales charge if we want to re-invest into the market again when this tidal wave of economic downside reverses? We are confused. Your book makes so much sense…protecting what little we have left. We took our money out of the market just before it rallied back…around 3/9/09 and have left it sitting into a Money Market Fund. We could have recovered some of our losses if we didn’t pull out when we did. This makes us think that maybe we are wrong this time, too? Please advise.
” I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations that will grow up around [the banks] will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the People to whom it properly belongs”
Thomas Jefferson, the third President of the United States in a letter to the Secretary of the Treasury, Albert Gallatin (1802).
Does this not ring true? This should be a major warning as Thomas Jefferson surely predicted the outcome of such banking practices. Post this every where you can.
Dear Dr. Weiss:
My husband and I own a small company and have been reading “Safe Money” for years. Your advice helped us and our employees move our money to the safest investment in our 401(k) account before anyone else even mentioned a problem with the economy. I ordered 15 of “The Ultimate Depression Survival Guide” for all of our employees, my doctor, and a friend. The fact that you are donating the proceeds to the homeless speaks to the type person that you are!
My question: Do you think anyone in Washington will listen to reason and stop spending all of our money?!
Thanks for all you do. You are a true hero.
Debbie Young
Bravo to you Ken Steinbach.
It would help all of us if you share that particular service. Thanks.
Dear Mr. Weiss,
Is this a good time to buy duplex or tripllex
multi-unit residential for cash ?
Also what number do I call to subscribe to your
financial subscription, what is the Cost, the Telephone Number,
and do you give a Discount for an 86 year young Senior ?
One of your Admirers
Chris Hicks
I am enjoying reading your book!
Please tell me how I can determine if my insurance companies are sound?
Thank you for your work to help others??
vl
In every crisis our nation and our allies have ever faced, God has caused great men to rise above the challenges of the day. You, Martin Weiss, are a huge blessing to this nation, because we are so thirsty for information on what we can actually DO to help ourselves and America, not just talk about it…and you are providing that conduit. Thank you for serving and God Bless you!
Dianne
These democratic lawmakers and judges and politicians are ruining this country. They have completely turned from God and are living in the now. What will they do at their appointed time when they have to answer to the Almighty for their deeds and for the good they could have done when they had the opportunity to do so? It’s sad for our country but it’s even sadder for those who put our country in this position and have opposed God and tried to turn us from Him also. They need our prayers and tomorrow is national prayer day and a good time to pray for those who hate God and hate us also. May God bless you and yours.
Martin – I very much appreciate your insight on our economy and what to expect in the coming days. I’ve been following the Mr Speculator funds you have recommended. I don’t understand why they are going down with the continuing bad news. When would be a good time to buy these funds? Thanks, John
Dr. Weiss,
First of all I agree with Allen. I wish Ken would shre with us the particular service.
Second, I would like to thank you Dr. for giving me the insight on protecting the few dollars I have left. I study and follow the markets using a variety of techniques and am still learning. I am currently trading options and have been up for the year, however with this rally and my ignorance I gave back 65% of my trading funds. I was foolish and leaned from my mistakes. I decided to make some extra monies in the market b/c I lost everything in a business venture and strapped with a school loan. I will be ordering your book. If you can provide a class on how to trade or do market analysis I am interested and willing to learn. I just want to say I am very thankful and blessed during these bad times to have a wonderful Wife, children and family.
God Bless All of you……
What’s with the sharp, sustained rally in real estate stocks and ETFs? With the thin ice those companies are on these days, I would not have expected them to participate in the ongoing irrational stock rally.
Mike
Dear Dr. Weiss,
I finished your latest book 2 weeks ago and can’t help but believe that you are 100% on target with your predictions of what will happen to the u.s economy in the coming months.
My own father told me stories of his experiences during the depression. Of how there was no money circulating to buy goods or services, how lots of people lost all their savings when the banks failed or because they had purchased stocks on margin. I can still hear his advice of, “Don’t get in debt.” .
The news media is still full of stories of how the economy is recovering, jobless numbers are improving, housing starts and sales of & and existing homes are all up, blah, blah, blah. The stock market is up and the news media is telling us all to believe that the economy is well on the road to recovery.
Yet the government’s TARP and assistance programs have essentially turned into a corrupt money-grab by the very people and institutions that were counted on to help dig the economy out of this mess. I fear that the ultimate end game is going to be a lot worse than we can even imagine.
Dr. Weiss,
Thank you for all of the insight that you have in this crisis. It has been very helpful.
One thing that puzzles me is the action of the inverse financials ETF’s SKF and FAZ. They have nosedived over the last month and even with the news of the ’stress tests’ have continued to decline. Do you think they are coming back? If so, do you have any idea of the timeframe? Also, what will be the indicators that they are rebounding?
Dear Dr. Weiss – I’m hearing all about Gold, lately. But, what about Platinum? I hold American 1-oz platinum bullion coins in an IRA … for both safety and potential growth. I know they took a big hit during the crash, but they’ve been going up since then. Why do we never hear about platinum?
Hi Martin,
I find the information you give very informative although i am an european (Irish). Can you offer any advise to Europeans or if not can you recommend where to find information such as that you are giving relevant to our economies here in Europe particularly Ireland please?
Hello Martin,
I know not to perhaps trust most banks, but my largest amnt. of stock is in Westbanco wsbc
and THINK they are still OK…..let me know your thoughts on that , and, the rest of the little I have is all oil co’s. Everything I own pays dividends. Please comment on WSBC and future of Oil.
Thank you, Maggie
Dr. Weiss
I would welcome your advise on how to protect approximately $100,000 I will be receiving at closing on a real estate sale next week. Thanks and God bless you for sharing your knowledge with us.
Gerald D. Lyon
Provide good sound advice as to what to buy and sell and when to do it.
Mr. Weiss
I have an account at Fidelity, unfortunately I can’t trade the ETF”S. I can do stocks but I am not that skilled yet to know exactly what I’m doing. I have $65,000 in cash reserve the rest in FSAGX , FSENX, FSNGX, FSPTX, FWRLX, RYJUX, RYURX.
Which totals to a little over what I have in my cash reserve.
Since I couldn’t trade I left my Rydex funds alone. So I’m just sitting for now.
I also have a $1000 in a safe deposit box.
I am a GM retiree and I am in fear of having my pension reduced or terminated.
I don’t know how I can recover my loses from the recent market flop.
I purchased a house that is way too large in Hilton Head Island hopeing to use that equity and increased value as my retirement. Big mistake. While I still have an excellent income from a niche market, I am concerned about the huge mortgage payments and how long that can be maintained. While I bought the house at an unbelievable price, I now have it on the market and have absolutely no lookers. Only forclosures are being bought. I’ve pulled all but about 20% of the value out of the stock market about 8 months ago and just have that sitting in T-bills. I have accumulated about $200,000 in cash and have some gold/silver. I’m considering the purchase of a very small home on about 40 acres in Virginia. I don’t know a thing about inverse stocks but agree that that is the way to go. I’m fully in agreement that this current market is a blip that will allow us to get the remainder of our money out of the market and invested in something that will benefit from the additional downturn. Whether it is a skyrocketing interest rate or massive devaluation, there is no doubt that we can’t sustain the bailouts that are currently going on. Where is the best place to move the money invested in t-bills? I’m thinking inverse equities but just don’t know a thing about them. Thanks for your help.
Mr. Weiss, I have just started to make good money, I have a home (which I am getting ready to do a interest rate reduction) I just bought a new car. I have vary little saved. I am getting my money from Air Force retirement, VA disability and Government contractor work. What should I do to save what I have?
Dr. Weiss: I read the book and started to make changes in my portfolio. Bought some
gold, inverse ETF’s, sold financials, but the market continues to advance while my
investments go down or sideways. Every channel on TV says the recession has started
to turn and things are improving. On a Scale of 1-10 how strong do you believe you
are right? If you are wrong, I am fearful that your reputation will be tarnished.
Carroll Bostic, Ed.D.
I am in Australia and am wondering if the same strategies apply here We are not experiencing the same dislocation as in the Srates Recently we were distressed to see brand new houses bulldozed in California ??What are your predictions and how can we in Australia help our families and friends to survive the crisis. I have one son who we are helping as he is finding it hard as the jobs pay less and less and he is floundering with a small family We have the utmost sympathy for what Anericans are going through especially those who have lost jobs Do we follow your advice here? I greatly appreciate you comments
Molly Rohan Australia
Dr. Weiss,
Your book is extremely instructive, as are the Safe Money Reports that I’ve read for several years. I know you’re correct in advising us to avoid Treasury bonds and stick with 3-month T-bills or short-term Treasury only money market accounts. What about TIPS, and where should 401(k) funds go when they can’t be in a money-market account? Your answers will bw much appreciated.
Thank you and God bless you,
Bob Maxwell
Martin: Yes, You & your team are right. I somehow can’t buy into this recovery I keep hearing on t.v.. Without all the supporting numbers, it’s just another “dead cat” bounce.. Everett
I am a senior citizen, age 65, and have ordered two of your books (one to share) and can’t wait to get them. I am disabled with Rheumatoid Arthritus and drawing disability. My husband is also on Social Security. SS is our only source of income, which demands a strict budget. We own our home (no mortgage), have no outstanding credit, and no debts… so far. I don’t seem to hear much regarding senior citizens who depend on Social Security, and whether or not this could be taken from us or taxed. No one seems to be addressing how we should prepare for this depression other than to protect our small savings.
Which ETF’s should we be buying now for the downside?
Martin, one of the best indicators I have seen about Gold/Silver in this current situation is the many, many, ads to buy your Gold/Silver, etc. I saw this in the 70’s when the prices were going up,up. I’m just waiting to see the $ start to fall to go headlong into the metals. PS: other currencies are also worthless too!
Hi;
I have been buying double inverse ETFs and gold. Hope you are right, but it makes sense, because there is not enough government money to finances the mess – they are now over a year’s GDP. I am about to start dumping my portfolio, except gold and some energy (minimul)
Ouch !! But the public is still buying Chinese…….
JSF
Dear Martin,
First, my credentials. I have an BS in Economometrics from UCLA, an MBA in corporate finance from UCLA, worked on Wall Street, and have successfully traded commodities, stocks, and foreign exchange, and at 70 am successful in the market. In foreign exchange I was a the International Treasurer for a Fortune 100 company and was well known by both the banks and other major U.S. corporations. In over two years I traded hundreds of contracts and never had a loss. (I invented words like transaction or cash and translation or paper gains and losses and pre- and after-tax exposure.)
My purpose is not to impress you with my credentials, but raise what I haven’t seen much about on your website. You’ve been right about the market declining, but you have not (in my opinion) highlighted the major reason for the decline. And, unless you strongly start to highlight Washington’s major problem, you aren’t going to be part of the solution.
In my opinion, the overriding reason for our nation’s current problems has been that by using false satistics our Government has been lying about the inflation rate.
1. Had the Government reported the actual rate of inflation, Greenspan and the Federal Reserve would not have been able to lower interest rates to the extent that they did, and the public and private debt problems we have today would not exist. It’s because Washington lied about the inflation rate that we had negative interest rates which led to speculation in housing, auto, and consumer credit markets.
2. The Government’s lying about the actual rate of inflation also led to reduced transfer payments to Social Security recipients, Veterans, and others as well as bond holders. As a result, speculators bid up prices to a level where incomes could not support them.
Why is it important to emphasize that Washington has manipulated the inflation rate statistics? Because, until we raise incomes, the only way that the economy can attempt to recover is by a downward spiral in asset prices. If you want to lead the way to economic recovery, I think the only way is to correct prior lies about the inflation rate.
Sincerely,
Roger
Dear Dr. Weiss: After reading your book I am concerned re my reverse mortgage. I have $85,000 K available for future monthly payments. I am considering using $60,000 of this to purchase gold, silver shares & ETF. If I knew my date of death it would be an easy calculation; I have about 8 years left for monthly payments, but with coming inflation my monthly income would be stressed. What say you?
What is the bank rating on the U.S. Bank that just took over Downey Saivings ? They claim its triple A, but I am not inclined to believe it. I can’t find the rating listed on your rating list of banks. Jean.
I read your book but it still seems over my understanding. All or most of our retirement is in bonds and 25% in mutual funds. I don’t know what the next step for us to do. I don’t know when to buy an Inverse ETF and when to sell or what kind. Please help. PSA
Should holders of whole life policy’s take a loan against the cash they have available – or take the cash ?? Is it taxable ????? Can’t find prudential ins of Newark, nj on your lists.
Positioning my portfolio for the downturn but holding off since the market has been going up these last 5 weeks………i
Martin,
I read every one of your newsletters. I am not currently an investor as I moved the remains of my Ameriprise Financial investment account to a fixed account in mid February 2009. I was not quick enough to catch on that this was no ordinary recession and thus lost approximately 50% of my retirement savings.
My questions are:
1. How safe is my remaining $50K in a fixed 3% interest account at Ameriprise Financial?
2. What is the health status of HSBC USA N.A bank where I have a $20K savings and $5K checking account? I am considering moving these accounts to Canandaigua National Bank, a bank that I’ve known to be very conservative with their investment strategies. They were offered the bank bailout and turned it down.
Thank you,
Holly DeFrancisco
hdefranc@rochester.rr.com
Pittsford, NY 14534
Hi Martin,
I’m planning to retire in the near term. I’ve been contemplating the purchase of an Immediate Annuity for Life Only from the New York Life Insurance Company. I’m planning to pay NYL a sizeable amount of money for the annuity.
I understand from reading your material that, like banks, insurance companies will be exposed for financial weakness. My question is whether New York Life is a solid and safe company with whom to invest in a sizeable annuity?
I’ve read their financial statements and they appear to be very profitable. Moreover, NYL is a mutual company owned by its policy holders and not influenced by Wall Street.
What can you tell me?
Re: Pepsico Share Power Stock options
I own several annual options for Pepsico stock that I can take a $10-15 per share gain at present market.
Should I take what I can and run? It’s been running flat YTD around $50.
Thanks,
Rob Massey
Martin
No one yet has answered my question on why the Treasury had to bail out investors who were in Primary Reserves “U.S. Treasury Only Money Market” fund.
I know you claim U.S. Treasury only funds were the safest thing on the planet.
Also I thought all funds were required to keep “separate custodial accounts” for their various money market accounts under the family banner (in this case Reserve). If this were so then the holders of the Reserve’s US Treasury only MM fund should not of been subject to the same risks as those in the Primary Reserve MM fund with the higher yield, and Treasury should not of had to make them whole and they should not of had their moneys placed on hold for withdrawal rights. Correct? But it happened that they were in the same boat as those MM holder’s in the riskier Primary MM fund. It comes down to, “How did the early institutional withdrawals breach the US Treasury holders accounts?
I have a file I have kept on this saga, but have yet to find anyone who can answer the question of how this happened?
The point being if it happened at Reserve, then how do I know it won’t happen again at Weiss’ US Treasury only money market account or American Century which you also reco.
I just placed my mother’s money in Weiss’ U.S. Treasury Only MM Fund. She is a widow who deserves safety but the question was still raised that it may not be as safe as in Treasury Direct.
She exceeded the $100,000 amount on her US Treasury Direct and did not want to pay the annual account fee with Legacy Direct.
Thanks for the input or answer to this million dollar question.
Tom
Hi, Dr. Weiss. I’m seriously considering joining your new club (Contrarian Investments), which would be my first venture into investing. I’ve read your Depression Survival Guide, thought it was great, moved what’s left of my retirement accounts to a treasury only money market account, and I’m ready to follow your investing advice. I have one important question: How does one choose a broker? I’ve found references to your lists of the safest banks and brokers, found the bank list in your book, but I haven’t been able to find the list of brokers, nor any guidelines about finding one. I have no idea how to choose. Please help!
Thanks,
Debra
Martin,
I very much appreciated the survival guide, especially the Bank ratings sections. However, I’ve noticed something since early May 09. Apparently TheStreet.com has pulled back all of their 1Q 2009 ratings on banks. The latest you now find on their site is 4Q 2008. I know the 1Q 09 ratings were there because I have copies that I saved to forward to friends and family. However they have been withdrawn without explanation. I hate to be suspicious, but is this more of the “keep them in the dark” pressure being brought to bear by the Treasury/Federal Reserve powers that be, or is TheStreet.com now afraid to publish their current ratings?
I recently droped my Broker, self-serving!
Can you give me a good place to open a new account to play ETF’s?
On liine or otherwise.
THANKS,
JP
Hi, Dr. Weiss, As of today I have lost about a 1/2 of my 401+ 403 accounts. I was wondering should I withdraw the rest of my money and purchase gold? Retirement is about 10 years away. I have moved my accounts into Vanguard Prime Money Mkt Funds. Is this safe? I’m very concerned.=) Kay
Hello Mr. Weiss,
I have read your recent book and read what your experts write about on your newsletters but honestly, I do not have have a clue as to where to begin with investing or how. Currently I have 101,000 with American Funds which has not lost a penny, 12,000 (use to be twice the amount) with a previous employer and about 8,000 with Vanguard. How do you find a broker to help with investments that you reccomend? I have thought about your contarian portfolio program but would not know where to begin to move money from one of these funds and follow your investment strategy. I am an artist and can paint a lovely landscape on canvas. But, as before, I don’t know where to begin especially in these times.
Thanks for listening and take care.
Rosemarie B.
I mentioned on 5/5/09 that the S&P 500 had been putting the the pieces together for a nice rally that could hit 950. we have recently hit 950. Of the short ETF’s that were TOUTED to be bought under headlines that could scare the most astute of investors like SRS down over 80%, FAZ down over 95%, SKF down about 80%. I mentioned and still believe that “maybe” Global disaster 2″ is coming, but predicting based on the 1930’s depression is a slippery slope. The credit crisis looks closer to being over than falling back into a crisis, this is a fact. Much of the losses in credit have been regained, such as in the case of Lincoln Financial. the news is still plenty bad like 9.4% unemployment and what that could bring with it. But the Dow is only 8800 as we speak. this is still down a huge % from the top. Now you claim to be answering the people who “now want” to profit from 40% rallies in the stock market, just in case they happen. the rally that couldnt happen in March. the profits you speak of making on a collapse are undeniable, but we are not there yet. The short ETF’s are decimated and look exactly like their “long” bretheren a couple weeks before they were smashed for the last time before the rally. Maybe thats our queue. We’ll see.
I believe we are there now. Several signals now point that the rally to 950 is exhausted. we’ll likely see the pieces come apart one at a time from the puzzle. For the Dow theory buffs, a new low may be in order. we’ll see. “pennies on the dollar” inverse ETF’s look good.
I would imagine your new “timing mechanism” is guiding you to safety/ and or inverse profits.
Good Luck