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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

Mark O'Byrne
Executive Director

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 -- Published: Wednesday, 8 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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