Monday, November 08, 2010

Just sayin’

A friend who usually knows what she’s talking about warned me this morning that the economy is going to crash and burn, thanks to the idiotic (or maybe diabolical) move the Fed made last week.

She recommends laying in a year’s worth of beans, rice and potatoes and shifting as much wealth as possible into silver. (It’s trading at $26.88/ounce at the moment.) She was heading to her dealer with about 3 ounces of gold to convert today.

The trigger, she believes, is when China announces it will no longer buy U.S. bonds. The next 14 days after that event, she worries, will see the complete collapse of the global economy.

Maybe so, maybe not, but what can it hurt to have some extra food in the house? After all, we’re also in the New Madrid fault zone.

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