Martin here with a few words from my father, J. Irving Weiss, about the Great Depression. Before he passed away, he wrote:
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“In just three short years between the peak of the stock market boom in 1929 and the bottom in 1932, it felt like the entire world was falling apart.
“The financial bubble burst.
“Giant companies failed.
“America lost 13 million jobs as unemployment surged to 25 percent.
“Industry cut its production nearly in half, and home construction plunged by more than four-fifths.
“Over 5,000 banks failed.
“And yet, despite it all, there was one all-important investment vehicle that not only survived, but actually thrived: The United States dollar.
“Why? Because of deflation and fear.
“Thanks to deflation, prices fell on virtually everything — commodities, farm land, homes, automobiles, consumer goods, even labor. And because of fear, investors shunned risk and sought the safety of cash in greenbacks. Result: The dollar’s purchasing power and value surged.”
That’s What’s Happening Today!
Today, like in the early 1930s, unemployment is surging, with over a half million jobs lost in the month of November alone.
As in the 1930s, America’s largest financial institutions — Fannie Mae and Freddie Mac, Washington Mutual and Wachovia, Bear Stearns, Lehman Brothers, and Merrill Lynch … even giants like AIG and Citigroup — have gone under, been bailed out or forced into shotgun mergers.
Most important, as in the 1930s, prices are falling, with fear driving millions to the safety of hard cash.
The net result: The U.S. dollar — virtually given up for dead not long ago — is now gaining steadily and rapidly in value.
In this midst of all the bad news, this is the one, outstanding ray of hope — for two reasons:
First, it indicates that, despite all the economic pain still ahead, the United States dollar will survive and thrive.
Second, it means you are now witnessing the first phase of a dollar rise that opens up some of the largest and steadiest profit opportunities of our lifetime.
To learn exactly how, Click here for Jack Crook’s latest report.
Good luck and God Bless!
Martin
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Money and Markets (MaM) is published by Weiss Research, Inc. and written by Martin D. Weiss along with Tony Sagami, Nilus Mattive, Sean Brodrick, Larry Edelson, Michael Larson and Jack Crooks. To avoid conflicts of interest, Weiss Research and its staff do not hold positions in companies recommended in MaM, nor do we accept any compensation for such recommendations. The comments, graphs, forecasts, and indices published in MaM are based upon data whose accuracy is deemed reliable but not guaranteed. Performance returns cited are derived from our best estimates but must be considered hypothetical in as much as we do not track the actual prices investors pay or receive. Regular contributors and staff include Kristen Adams, Andrea Baumwald, John Burke, Amber Dakar, Michelle Johncke, Dinesh Kalera, Red Morgan, Maryellen Murphy, Jennifer Newman-Amos, Adam Shafer, Julie Trudeau and Leslie Underwood.
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