Do you see what you’ve termed the “fake recovery” as a serious threat to investors and how can they protect their wealth?
You know it's interesting, when I talk to people these days, I find that so many people kind of understand in their heart of hearts that some how this isn't going to work. That you can't just print your way, and borrow your way out of a problem, and that it's not fundamentally the way that you grow an economy. Even if you could, theoretically, just temporarily print your way out of a problem, it's certainly not the basis for a long-term economic growth. People know that and that does worry them. They hope they're wrong. They're hoping that the Fed or somebody will figure a way out of this, but they really in their heart of hearts don't think it will happen.
Of course, for people personally, they're probably going to make two choices. The vast majority of people are going to say, "Well, I hope it works and that's it. I'm just going to stay with my current stock/bond portfolio and let it go 100% and I hope for the best. It worked out for decades. So hopefully it will continue to work in the future." There's going to be a few people who decide to protect themselves--that's a very few--some by luck, some by conviction, some because in Asia or the Middle East that's their backgrounds, but they will instead put some in precious metals. They're going to do extremely well. So there's a personal decision to be made there that's different from what's going to be forced on you by various governments around the world, by various economic circumstances. They'll make the choice. Literally, most people will go the comfortable, easy, or fun route. Somebody told me that I was no fun and they're going to take the fun route, which is fun for a while until it isn't. They're going to find that it’s really not very fun to take the fun route of what was "easy" money. Instead of making the hard decision to do something much more difficult and more uncomfortable and that would be to have some money in precious metals.