Pensions

In my Guaranteed Predictions piece (see: archives here) I said pensions will become worthless. Two years ago I told the people I teach and those that read my writings, sell real estate, shares, and any easy-to-cash assets, extra cars, paintings, the snow mobile etc and buy gold.

Many, many people have told me that they followed those suggestions and avoided huge losses in 2008 as shares and houses fell and gold rose from $640 to a high of $1240 recently. House prices in the US have fallen a total 23% in the last ninety days the biggest fall was last month January 2010, they fell 11%.

Pensions will become worthless as companies have not funded their schemes properly and they fell even further behind during the credit crunch when the sub-prime lending market collapsed. Readers Digest just went under because their pension scheme was short $125 million.

You still have time to cash out your pension but you have to act super fast, like today! The natural disasters (Gaia hits) that take out the US and the global economy and reduce world consumption (GDP) by 10% or more are very close, we can see them in the Aluna worlds; I watch them hour by hour, minute by minute during the waking day. (sw)

Readers Digest link: http://news.bbc.co.uk/1/hi/business/8539465.stm

p.s. A number of banks have posted huge profits recently Barclays (£11.billion +) but the figures are concocted as many bank hived off their toxic loans into off-shore companies so their loss are shuffled under the carpet.

The very eminent Mr. Jubak’s explains some of the banks accounting tricks in a very interesting video (see link below).

http://video.msn.com/?mkt=en-us&brand=money&vid=27398d7a-348b-4276-ac6d-b929b65ab100&playlist=videoByTag:tag:money_top_investing:ns:MSNmoney_Gallery:mk:us:vs:1&from=MSNmoney_ticker&tab=s216