Goldman Sachs is now warning their customers that the stock market is going to get even more insecure with potential earnings likely to hit the floor within the next 3 months. They have currently downgraded US stocks to "underweight" for the next 90 days.
The Investment Bank's direct statement is:
"Until the growth situation improves, we are not constructive on Equities...", the strategists recommend going to Cash.
Dating all the way back to the WWII era, the period between August through September has always been typically the worst of all for the S&P 500, and even the sluggish GDP numbers seem to keep building on this concern.
While Goldman recommends their clients to go to cash, GSI Exchange is advising their clients to convert their IRA's, 401k's and Investment accounts to Physical Gold & Silver outside of the banking system. You can learn how to protect yourself from the next financial meltdown before it's too late! Request GSI's Investors Power Guide & US Bank Expose today! All of your termed assets such as; CD’s, money-market accounts, annuities, IRA's and savings accounts are potentially at risk!
Goldman's '90 days in cash' proposal brings up the controversial "War on Cash" that is currently being waged in America. In a recently published Wall Street Journal article entitled "Preparing for a World without Cash," they attempt to highlight the benefits of a cashless society. The author claims that the government could save $1 billion annually by not printing, storing and transporting physical currency. Also, tax evasion would become immensely prohibitive, and the government could get out of the bank deposit insurance business.
However, a completely digital currency means the government could view any financial transactions. They could obtain a flow of information about your personal spending that could be used against you in a host of situations.
Clearly, this is what they want as cash is becoming harder to lay hands on these days. We always suggest our clients to try and attempt to withdraw $9,000 from their own bank account just to see how difficult it is. While the average American citizen is being stripped off physical cash, POTUS Obama just sent $400 million in an unmarked plane, in cash, to Iran...
I wonder why Iran wanted cash?
Why not a traceable bank wire?
It almost seems as if we want to track our citizens more than the terrorists.
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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.