As about 60 million Baby Boomers are set to retire, asset allocation of one’s savings is a key issue because one does not want run out of money at a time when one cannot easily replenish one’s savings. What to do? Wall Street is misleading people by not explaining that there is material risk that our legal tender irredeemable paper-ticket-electronic money will lose all of its value.
All over the world, it is now official policy to depreciate the purchasing power of money that exists as well as money that has been promised for future payment. The jargon for this is called “inflation targeting.” Mr. Kuroda, the head of the Bank of Japan has even more clever spin for the piece of dishonest. He calls it “price stability targeting.”
To protect oneself and one’s family a prudent allocation for the long-term should include gold, and should not include bonds of any genre.
More Information can be found from Larry Parks HR1098 Congressional Testimony 9-13-11
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