Tick tock, tick tock, tick...

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We may be headed for some interesting times - a two-fer

First - from the UK Telegraph:

'It's time to hold physical cash,' says one of Britain's most senior fund managers
The manager of one of Britain’s biggest bond funds has urged investors to keep cash under the mattress.

Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund, is concerned that a “systemic event” could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock.

“Systemic risk is in the system and as an investor you have to be aware of that,” he told Telegraph Money.

The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some “physical cash”, an unusual suggestion from a mainstream fund manager.

His concern is that global debt – particularly mortgage debt – has been pumped up to record levels, made possible by exceptionally low interest rates that could soon end, and he is unsure how well banks could cope with the shocks that may await.

He pointed out that a saver was covered only up to £85,000 per bank under the Financial Services Compensation Scheme – which is effectively unfunded – and that the Government has said it will not rescue banks in future, hence his suggestion that some money should be held in physical cash.

He declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10. The current woes of Greece, which may crash out of the euro, already has many market watchers concerned.

Second, this little collection of comfort and joy from Tyler Durden writing at Zero Hedge:

7 Key Events That Are Going To Happen By The End Of September
Is something really big about to happen?  For months, people have been pointing to the second half of this year for various reasons.  For some, the major concern is Jade Helm and the unprecedented movement of military vehicles and equipment that we have been witnessing all over the nation.  For others, the upcoming fourth blood moon and the end of the Shemitah cycle are extremely significant events.  Yet others are most concerned about political developments in Washington D.C. and at the United Nations. 

To me, it does seem rather remarkable that we are seeing such a confluence of economic, political and spiritual events coming together during the second half of 2015.  So is all of this leading up to something?  Is our world about to change in a fundamental way?  Only time will tell.  The following are 7 key events that are going to happen by the end of September…

Late June/Early July – It is expected that this is when the U.S. Supreme Court will reveal their gay marriage decision.  Most believe that the court will rule that gay marriage is a constitutional right in all 50 states.  There are some that believe that this will be a major turning point for our nation.

July 15th to September 15th – A “realistic military training exercise” known as “Jade Helm” will be conducted by the U.S. Army.  More than 1,000 members of the U.S. military will take part in this exercise.  The list of states slated to be involved in these drills includes Texas, Colorado, New Mexico, Arizona, Nevada, Utah, California, Mississippi and Florida.

July 28th – On May 28th, Reuters reported that countries in the European Union were being given a two month deadline to enact “bail-in” legislation.  Any nation that does not have “bail-in” legislation in place by that time will face legal action from the European Commission.  So why is the European Union in such a rush to get this done?  Are the top dogs in the EU anticipating that another great financial crisis is about to erupt?

Much more at the site - some interesting thoughts and it does not hurt you if you do prepare for these events and you will be a lot better off if they transpire and you are prepared...

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This page contains a single entry by DaveH published on June 20, 2015 12:54 PM.

Rules for thee but not for me - California swimming pools was the previous entry in this blog.

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