World’s Highest-Paid Investment Adviser Suspects Coming Bank Holiday
Yesterday, MarketWatch’s Peter Brimelow talked about the latest from Harry Schultz, the highest paid investment consultant in the world and publisher of the International Harry Schultz Letter.
What Brimelow wrote was, well, quite disturbing.
From the piece:
In its current issue, HSL reports rumors that “Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that ’something’ is about to happen … within 180 days, but could be 120-150 days.”
Yes, yes, it’s paranoid. But paranoids have enemies — and the Crash of 2008 really did happen.
HSL’s suspicion: “Another FDR-style ‘bank holiday’ of indefinite length, perhaps soon, to let the insiders sort out the bank mess, which (despite their rosy propaganda campaign) is getting more out of their control every day. Insiders want to impose new bank rules. Widespread nationalization could result, already underway. It could also lead to a formal U.S. dollar devaluation, as FDR did by revaluing gold (and then confiscating it).”
Gulp.
Brimelow noted that Schultz’s investment letter was up 81.7% year-to-date through May, compared to 4.1% for the dividend-reinvested Wilshire 5000 Total Stock Market Index.
Source:
“Latest Schultz Shock: a ‘bank holiday’”
Peter Brimelow
MarketWatch, June 24, 2009
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