Thursday, November 17, 2011

Mobius: The next financial crisis will be "Hellish"

QUOTE: "There is definitely going to be another financial crisis around the corner," says hedge fund legend Mark Mobius, "because we haven't solved any of the things that caused the previous crisis."  Speaking in Tokyo, he pointed to derivatives, the financial hairball of futures, options, and swaps in which nearly all the world's major banks are tangled up.

Interesting to hear the rhetoric being ramped up, isn't it.  And if this is what's being said in public imagine what things look like behind the scene.  Now would be a good time to look at your financial portfolio and make some decisions about the amount of risk you're exposed to if things start to cascade down.  I'm no financial guru but can say this for certain: If you have an asset you can hold in your hand it's yours (physical gold, tangibles, etc.), otherwise as Gerald Celente just found out you're just holding paper

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