Bert Dohmen: Take Your "Safe Money" Out of the Banks, We're Facing Crisis Greater Than 1930s
Stansberry Research, Released on 5/3/23
"The economy is going to come to a standstill and worse because everything starts imploding," says Bert Dohmen, founder and president of the Dohmen Capital Research Group. He explains that in the wake of the banking crisis, it becomes challenging to get a loan from the bank "no matter how trustworthy" a borrower is. "There's no lending going on," claims Bert. Additionally, he continues that President Joe Biden's current spending plan, which aims to double the capital gains tax on corporations and wealthy Americans, is a "killer for the economy." Bert asserts that "investors create businesses, and businesses create jobs. If nobody creates businesses, you have no job creation." Given the current uncertain environment, he concludes that investors should seek safety in U.S. treasury bills. However, he predicts that gold price will experience an up and down in the future and that its recording high indicates a sell signal.
00:00 Credit crisis2:37 what is the smart money doing today3:31 How should we protect ourselves?4:23 Banking system7:44 Move away from the US8:29 Fed's May meeting9:38 Market condition10:22 De-dollarization11:47 Debt situation12:25 CBDC13:49 Investment tips14:10 Gold
Bert Dohmen is the founder of Dohmen Capital Research and an author. He is also a renowned technical analyst, having called most market turns within days for 43 years. Bert's "Theory of Liquidity & Credit" has allowed him to predict stock market crashes such as the Crash of 1987, the NASDAQ in 2000-2003, and the near-meltdown in 2008. In 2007, he predicted the coming crisis in his book, "Prelude To Meltdown."
Bert Dohmen: Take Your "Safe Money" Out of the Banks, We're Facing Crisis Greater Than 1930s added by Herman James on 05/02/2023View all posts by Herman James ?+'