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Why You Must Preserve the Money You Have
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By Susan C. Walker
Fri, 27 Feb 2009 16:45:00 ET |
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Safety is the key when it comes to where to put your money now. So says Bob Prechter, whether he's being interviewed on CNBC or Bloomberg TV, as he was this past week, or whether he's writing in his Elliott Wave Theorist. To find out where he thinks is the safest place for money today, you would have to be a subscriber to the Theorist, but here is some of his latest thinking on why you need to preserve the money you have -- especially during a deflationary period such as we have just begun to experience.
Where Should You Put Your Money Now? Bob Prechter has an excellent piece of advice on this topic. In fact, in his most recent Elliott Wave Theorist, he recommends an account that he says
"every subscriber to EWI's services should have." Read Bob's suggestion by becoming a subscriber today.
Here's how.
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Making Our Money Even Safer
Some people complain about the current low interest income from safe investments. But you must keep something in mind: virtually everyone loses in a deflation. It’s a tricky environment, and most people are completely unsuited to negotiating it. It is nice to make money on the short side now and then, but the first key to success is to make sure you maintain as much of your wealth as possible. The money you preserve goes up in value the whole time, so you need to preserve as much as you can.
I have run into many people who think their money is safe because it is in bank CDs, corporate bonds, municipal bonds, short funds, etc. But most of these investments depend upon the solvency of some creditor institution that will probably not survive. All our readers should continue to hold most of their liquid wealth in…. [Editor's note: We have held the rest of this paragraph out, since it is meant for subscribers' eyes only.]
Now I want to recommend another account that every subscriber to EWI’s services should have. There are two reasons why you should open this account:
The first reason is that we understand the difference between money and credit, and we want to be among the advance guard of the new monetary era by owning accounts denominated in money, not the “IOU nothings” offered by banks worldwide under the fiat-enforced, money-substitute system, which is imploding. You don’t want to be one of the suckers who goes broke as a result. Remember, a bank is a loan-brokering institution that in most cases has handed out, in exchange for promises to pay interest, your money to home buyers, car buyers, property developers, credit card borrowers and other such debtors. If you have all your money in a bank and it goes under because the debtors can’t pay, you won’t have the money to buy food, pay for heat or fill up your car’s gas tank. But if you have real money in a vault, you will always have purchasing power.
The second reason, quite frankly, is totally selfish: If a banking crisis occurs, I want you to have the means to continue subscribing to the only services in the world that have prepared you for what is happening today and, we hope, will continue to steer you through the rest of the global financial crisis: The Elliott Wave Theorist, The Elliott Wave Financial Forecast, and the other forecasting services of Elliott Wave International. It’s good to have subscribers who are solvent!
[Editor's note: To be able to read this whole section, which describes in detail where EWI readers should hold their liquid wealth, please sign up to subscribe to the
Theorist.]
Where Should You Put Your Money Now? Bob Prechter has an excellent piece of advice on this topic. In fact, in his most recent Elliott Wave Theorist, he recommends an account that he says
"every subscriber to EWI's services should have." Read Bob's suggestion by becoming a subscriber today.
Here's how.
Tags: deflation