Recently Listened: Frisby’s Bulls and Bears – Robert Prechter

+ Interview with Robert Prechter of Elliot Wave International in London.
+ We are at the end of a market run which started in 1932.
+ RECOMMENDATION: GO TO MAXIMUM SAFETY
+ Time has surprised him, things have gone on longer than he thought possible.
    – Bottom could come as late as 2014-2016.
+ Bubbles aka Manias are historically fully retraced.
+ 40-50 Trillion dollars worth of loans that will not be repaid.
    – DEFLATIONARY
+ Host argues we will see both deflation and inflation, he is convinced by both arguments.
+ 50-500 times more base credit than actual money.
+ Very few things are safe to buy.
    – Nothing truly safe, plain cash, or short term U.S. Treasury Bills.
+ Robert is bullish on the $.
+ Foreign Currencies
    – Headed lower relative to the $.
+ Gold – Very vulnerable.
+ Big fan of goldmoney.
    – Administrative burden of getting an account is hefty.

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