September 16, 2008


My advice to those of you who failed to heed my earlier warnings is simple: Get out of the markets right now. Don't wait. There is no hope for the markets. They will not be coming back.

Yes, you're going to take a big loss but at least you'll have something left after the dust settles.

As of today, out of the top five U.S. Brokerage houses, only two remain: Goldman Sachs and Morgan Stanley.

Over one thousand U.S. Banks are going to fail including, I am told, UBS and Citibank.

The FDIC is already scrapping into reserves long thought sufficient, to bolster depositors for the eleven Banks that have failed so far this year. What are they going to do when 1,000 Banks fail? Where will they get the money from? The short answer: they won't.

Buy small denominations of gold and silver. Take physical delivery of the metal and hold on to it.

We are in for a financial collapse far worse than "the great depression" and there is no way at all to avoid it.