[Money-matters] FW: [Money Matters Newsletter] Ireland follow Greece in potential default. Summary of all holdings. Update Nov. 26, 2010

Sun Nov 28 00:15:09 UTC 2010

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From: Money Management Radio [mailto:marc at moneymanagementradio.com] 
Sent: Saturday, November 27, 2010 2:16 PM
To: bayareaprocess at att.net
Subject: [Money Matters Newsletter] Ireland follows Greece in potential
default. Summary of all holdings. Update Nov. 26, 2010

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Money Matters Newsletter: Ireland follow Greece in potential default.
Summary of all holdings. Update Nov. 26, 2010

BERLIN-The euro zone's sovereign debt crisis escalated Friday as the market
homed in on Spain as another potential weak spot, leaving officials
scrambling to quell investors' fears. Spanish Prime Minister Jose Luis
Rodriguez Zapatero moved to dispel the growing anxiety surrounding the
country's fiscal position Friday, saying there was "absolutely" no chance
the euro zone's fourth-largest economy would seek a bailout from the
European Union. But his attempt to calm the markets had little effect, with
the euro tumbling and the selloff in Spanish and Portuguese sovereign bonds
continuing. "If we continue to see the recent trend in Spanish bond yields
then the crisis is going to be taken to a completely new level, as Spain
accounts for approximately 11.7% of euro-zone [gross domestic product] which
is pretty much double the figure of Ireland, Portugal and Greece
[combined]," said Gary Jenkins, head of fixed-income research at Evolution
Securities. 

Marc's Notes:
Reread the article above. The old saying goes as soon as a government denies
something; you can be sure it's true. First Greece, then Ireland, with Spain
soon to follow. Much like what I detailed would happen almost 2 years ago
when we sold our Euro position; this flawed currency is again in the meat
grinder. Greece and Ireland were relatively small fish in the grand scheme
of things; (as if a few hundred billion is anything to be sneezed at). Spain
on the other hand represents 11.7% of Euro area production and is almost
twice the bailout potential size of Ireland. Portugal meanwhile is gasping
for liquidity and the disease keeps spreading. Actually its already spread,
its just that the truth is surfacing now.
With the official denial of the European bank now complete, you can be sure
they are scrambling to do damage control on a dire situation. The lesson
here is many faceted. The US screwed all these countries by offering up
toxic mortgage sandwiches which helped increase the bleeding on all fronts.
Couple that with out of control social spending by money happy politicians
to garner votes, amplified by the economic crisis and you have the recipe
for entire country defaults, and even worse, the potential collapse of the
Euro itself, or at least severe devaluation. The even bigger lesson here is
that paper (fiat) currencies never survive over printing caused by
overspending and the world is waking to the fact there is no safe paper
currency to hide in bar at least some safety in the Swiss Franc and possibly
a few others. The final currency rises again and that is the currency of
kings, Gold, Silver and "real" stuff". Investors world wide and even central
banks of entire countries are flocking to gold as the final currency, the
one that can't be printed. (See my Union Article here:
GOLD-http://www.theunion.com/article/20101108/NEWS/101109768
<http://www.theunion.com/article/20101108/NEWS/101109768&parentprofile=searc
h> &parentprofile=search). As I write this, Euro countries are infighting,
protesting against putting up more money for their deadbeat neighbors.
Germany who has run lean and mean and not overspent is tiring of spending
its hard earned dollars over and over again as new bankrupt countries belly
up to the public trough. A familiar theme in this bailout gone mad world.
I don't know how bad this Euro thing will get but I suspect as I have been
for months, REAL BAD. This WILL have ramifications worldwide including on
your finances and we must face the music and take steps to protect
ourselves. (See Dream Portfolio on the site, left side menu). As I write
this Irelands citizens are protesting any cutbacks in spending. You have to
wonder what they are thinking. No one wants their check reduced but its
either that or the country goes broke. We saw the same protests in Greece by
their citizens. The average Joe just doesn't get it I guess.

The sole answer however is NOT just holding a bunch of gold and silver
coins. You must diversify over an entire spectrum of assets. Remember, gold
is the thermometer of economic health, and government's world wide need the
power and illusion of the printing press to maintain order and control.
Since Gold sheds a light on this illusion and its toxicity, they will
attempt to first control its rise then possibly even take it from you. They
will at minimum downplay its importance as they buy it behind the scenes to
protect themselves.
It's the reason gold and silver have skyrocketed over the past decade, up
from a price of $250.00/ Gold/Oz to close to $1400.00. That's over a 600 %
increase. 
Since the US DOLLAR is measured not against gold (at least officially) but
measured against a basket of foreign currencies, these have risen as well.
Our holdings of Swiss Francs, the Canadian Dollar and the Aussie Dollar are
just off new highs which is why we have held them. Those that chose Swiss
Annuities as their foreign currency vehicle are doing even better. You will
LOVE your January statements if it keeps up. Look for number of Francs you
have on your statements and multiply that by the exchange rates at the time
you get you statements. You probably got a dividend AND interest on TOP of
the currency appreciation!
Other holdings:
US bank accounts are still preferred for most of your money as well at US
GOVT securities (short term only) such as Treasuries, Treasury funds and
similar holdings. You should HEDGE these (protect against inflation) by
using our other holdings. Don't hold everything you have in US DOLLARS!
Real Estate: Figures are dismal with sales faltering and winter now
approaching. Foreclosures are at record levels and getting worse by the day.
Commercial real estate is crashing, just look around your local town to
verify locally the national figures we are seeing. Even with record low
interest rates, no one is buying, refinancing is slowing, new home sales and
housing starts are anemic. Prepare for round 2 of the real estate crash. The
slow painful grind down I wrote about over a year and a half ago after the
initial crash.

Inflation: "There's no inflation" says Uncle Sam. LOL!  I try and ask every
shopper I can and every checker I use. The answer is the same. They laugh
when I tell them the government insists there is no inflation. LAUGH!  All
of us know what they fail to admit. Inflation LIVES and is growing worse.
Food, energy, medical, metal- you name it, up it goes. (Except housing of
course) You are now routinely paying a record 3 dollars plus for gas. With
cold weather coming early this year across the nation, energy costs are set
to soar even higher. Peak oil is real and supplies are dwindling slowly
while 3rd world countries use more every day. A two sided squeeze on energy.
Couple that with a declining dollar (inflation) and we will see higher
prices is in everyone's future. And as goes oil, so goes everything you buy,
from the raw materials, to the heat and energy source right down to the
transportation side of the equation. 
Meanwhile retailer I suspect will report lousy earnings this holiday season.
Why? Outside of just a hunch due to poor economic conditions, my small
survey of local shopping centers and TV news about black Friday crowds leads
me to believe this season will be terrible. Because they allow very little
adjustment for inflation, store sales wont look AS BAD as they are, but
trust me, you will see the REAL figures come first quarter profit figures by
retailers in the spring. THOSE PROFIT NUMBERS will reflect my
prognostication. We will revisit my prediction then.
Holdings: Nothing really much different except updates on our continually
moving gamblers plays. First off I am buying 2 dividend paying funds Monday
for a long term hold and they are IAE (Asia Pacific High Dividend) and CH
(Aberdeen Chile Fund). These 2 funds were added to the Super Dividend Payers
List last month. I intend to hold these in my IRA and am doing so as a long
term dividend play as well as an overseas foreign markets position. These
will fall in a severe market turndown as all stock most likely will but I
love dividends and like the ability to invest in foreign markets AND get
paid to do so.
Natural Gas is inching up and I hope this is the real deal. To date, this
energy source has lagged everything energy, and much like our oil play, it
will play catch up eventually. You should have sold 25 % of  your position
at a loss when UNG hit 5.25.
Oil ran after we said to add USO at around 32 and I put out a sell on it
over 36. It actually ran to 38. I sold all my short term oil then and am
waiting for another pull back. 
Interest Rate fund TBT. Another play for gamblers mentioned about 2 months
ago although long term holders should hold TBT at much higher prices. The
short term trade bought us in around 32 and sold us at around 36. Long term
holders should do just that. Hold. You may also consider RRPIX for long term
plays. TBT is leveraged. RRPIX is not.
Gold and Silver. I mentioned players who hold a ton should have sold some of
your excess when gold hit $1300.00 to 1400.00/Oz. All others hold or add
until you get up to at least 10 % of your net assets.Now we wait to see if
it continues its pullback and then gamblers should add gold stocks again
when gold hits 1200/ oz and lower. Not yet. More pullback could be coming.

Foreign currency funds. Gamblers or heavy holders of FXF,  FXC and FXA
should have sold up to 50 % of your funds 2 months back when FXF hit 104 or
so as we expected a pullback because of the fast run. The correction took
place right on time so we look to reestablish positions on further weakness,
giving us 10 % more funds for free on the correction. Nice call if I say so
myself.

Uranium: Long term play only on rising energy costs. URPT, NLR or CCJ are
some ways to play this. I added URPTF last month and plan to hold for at
least a double with a 4 year time frame. Those who bought a few years back
are still in the red. (we did put out a partial sell on it after it ran so
profits were there for a short time).

Our "short" the Euro play when it hit over 140 also was right on the money
and those who bought EUO then should now be out with a small profit. If you
still have it, it is up even more and I suggest you get out of it. A Euro
rally may be due.

UNWPX, TGLDX, USERX and other gold funds. We are reaching toward a double
here and still have about another 20 % to go at which time I will advise
unloading 30% or so. This "double" goal was initiated about a year and a
half ago and looks to fill within 6 months in my opinion. Not bad.

New readers take note! Funds and stocks listed above are NOT RECOMMENDATIONS
TO BUY NOW. These were recommendations to readers back then and new
positions should not be added in any of these mentions unless you read
"ADD" in the suggestion.
For new readers, if I have met with you, then consider adding per our
consult the following if I suggested it specifically to you.
(If I have not met with you, then continue to read this newsletter and take
action as you see fit. Order up all prospectus of anything you plan to
invest in and read my disclaimer. The suggestions listed are only
suggestions and do not constitute a recommendation for you or your
situation).

US BANK ACCOUNTS.   FDIC INSURED AND US GOVT INSURED SHORT TERM DEBT (LESS
THEN A 2 YEARS).
SWISS ANNUITIES DENOMINATED IN SWISS FRANCS.
PHYSICAL GOLD AND SILVER IF YOU FULLY UNDERSTAND IT IS INSURANCE AND COULD
GO DOWN IN PRICE. WE LOOK FOR AT LEAST A 10% HOLDING OF YOUR ASSETS.
ANY LONG TERM PLAYS SO NAMED.
ANY NO RISK CDS OR ACCOUNTS I MAY MENTION FROM TIME TO TIME IN THIS
NEWSLETTER.
DIVIDEND PAYERS I LIST ON MY SUPER DIVIDEND PAYERS LIST AND ONLY GRADUALLY
OVER A PERIOD OF MONTHS IF NOT YEARS.
CONTRARY FUND HOLDERS HEDGING DIVIDEND PAYERS OR OTHER REGULAR STOCK
POSITIONS SHOULD USE A BEAR FUND SUCH AS DOG WHICH WILL RISE IN A MARKET
FALL AND FALL IN A MARKET RALLY. THIS MAY HELP PROTECT YOU AGAINST MARKET
CRASHES.
In conclusion, consider company insiders dumping stock by the droves, the US
DOLLAR is getting weaker by the day and world finances are questionable
(Euro problems). This market is a very dangerous place. Proceed at your
peril and hedge, hedge, hedge above all. Do not risk any more then you can
afford to lose and most of your money should be in NO RISK or MINIMAL RISK
assets. 
Hope all of you had a great Thanksgiving and thanks again for all the
supporters of Turkey Matters. My dinner tasted great knowing we helped feed
literally thousands with our turkeys.
All for now, be safe.
Marc 

Upcoming Show this Thursday December 2, 2010. Noon PST."Understanding the
Problem". 
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Where I buy some of my gold: What I call "Possession Gold". 
Blanchard and Company, Inc.
P.O. Box 61740
New Orleans, La 70161-1740
Direct toll free number: (888) 727-7537
Rick Baugnon

I have probably purchased the most ounces of gold and silver from Blanchard.
Not only do they sell regular coins and bars, they are the only contact on
this e-letter that also can provide you with graded coins and collectible
coins. Although I usually recommend only standard coins, I do own
collectibles as they may help against a confiscation scenario and we need to
be prepared for everything. Please call Rick Baugnon and tell them you are a
Money Matters Listener and he will give you special consideration and he
knows my preferences. Use his direct line above. Rick and I have discussed
Money Matters needs and he knows what to provide.

Monex Deposit David Feldberg x 2216
4910 Birch St., Newport Beach Ca 92660
1 (800) 949 4653 (GOLD) ext 2216 You may refer to Marc Cuniberti and Money
Matters and David will know what Marc recommends. 
Take delivery and store in a safe place. You may have 25 % of this amount in
silver and the remaining 75% in gold. I usually buy only generic 1 ounce
rounds or ounce bars, no collectibles. You may buy any 99 % pure gold or
silver assets but pay no more then a few percentage points over spot. Again,
buy NO Collectibles, No Margin account, No Commodity accounts. Take delivery
of standard coins only. 

JH MINT
13241 Grass Valley Ave. 
Grass Valley, Ca 95945 (530)273-8175

(Near the Grass Valley Airport off Loma Rica Road)

Tell the salesperson you are a Money Matters Listener and you will get
special discounts,(market conditions permitting). Normal Gold prices are
anywhere from 6 to 11% over New York Spot price. If you are selling, you
should get close to spot when you sell. Buy only standard, or popular gold
or silver coins. I do NOT prefer the generics but would rather have you buy
Silver Eagles or bars. When buying silver, the mark up will be a bit higher
than gold. JH Mint posts prices on its board over the sales counter so you
can see spot at any time. I have dealt with JH MINT myself and found them to
be easy to work with.  You can pay in cash and you will remain anonymous.
I usually buy Gold Eagles, Buffalos, Kruggerands, Silver Maples. Gold Pandas
Generic Rounds. Peace Dollars or Morgans. You may also use my web contact: 

Follow Marc and Money Matters on Facebook
<http://www.facebook.com/topic.php?uid=225256048565&topic=11908#/pages/Money
-Matters/225256048565> . 

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