Pensions Timebomb in “Slow Motion Detonation” In U.S., EU and Internationally
-- Published: Wednesday, 8 June 2016 | Print | Disqus
By: Mark O'Byrne
The ‘pensions timebomb’ is in “slow motion detonation” in the U.S, EU and internationally as pension funds around the world begin to go bankrupt.
Max Keiser and Stacy Herbert discuss the end of retirement which many Americans, Britons, Europeans and others will suffer as their pensions are decimated in the coming years due to zero percent interest rates and ultra loose monetary policies pursued for the benefit of banks and corporations.
Governments and central banks bailed out banks at the expense of pensioners and the pensions of workers who have been “thrown under the bus”.
In the second half, Max interviews Constantin Gurdgiev, Professor of Finance at Middlebury Institute of International Studies, about the debt situation in Europe and the NAMA and Irish water debacles.
Constantin points out how Ireland’s economic recovery, the EU’s ‘poster boy’ of recovery is tentative at best and based on less than sounds fundamentals.
Diversification remains the key to weathering the impact of the ‘pensions time bomb’. The traditional and typical retirement or pension fund of simply owning a balanced portfolio of just paper assets – equities, bonds and a small allocation to cash – is now a recipe for financial disaster. This is especially the case given the rich valuations seen in stock indices globally but also the fact that global bond markets are at all time record highs due to QE and central bank’s ultra loose monetary policies.
Having a pension without an allocation to gold today is high risk in the extreme and gold has never been more important as a hedging instrument, safe haven asset and pension portfolio insurance.
Gold Prices (LBMA AM) 08 June: USD 1,241.10, EUR 1,091.42 and GBP 851.02 per ounce 07 June: USD 1,241.10, EUR 1,091.42 and GBP 851.02 per ounce 06 June: USD 1,240.55, EUR 1,092.67 and GBP 859.08 per ounce 03 June: USD 1,211.00, EUR 1,086.63 and GBP 839.34 per ounce 02 June: USD 1,215.50, EUR 1,085.32 and GBP 842.10 per ounce
Silver Prices (LBMA) 08 June: USD 16.31, EUR 14.36 and GBP 11.18 per ounce 07 June: USD 16.31, EUR 14.36 and GBP 11.18 per ounce 06 June: USD 16.40, EUR 14.46 and GBP 11.39 per ounce 03 June: USD 16.10, EUR 14.45 and GBP 11.17 per ounce 02 June: USD 15.98, EUR 14.27 and GBP 11.07 per ounce
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
