You might do a double take the next time you get hold of a $100 bill.
The new Benjamins debut on October 8 with striking features that are designed to thwart counterfeiters, including the Liberty Bell in an ink well and a blue 3-D security ribbon. Larry Felix, the director of the Bureau of Engraving and Printing says that this $100 bill is the most complex note the United States has ever produced. "The 3-D security ribbon is magic. It is made up of hundreds of thousands of micro-lenses in each note," he says. (AP, October 7)
Tuck away all the new $100 bills or U.S. currency in any denomination that you can rightfully get your hands on. Elliott Wave International believes cash will soon be king.
Cash is the only asset that assuredly rises in value during deflation. One safe "parking place" for capital during a deflationary crash is cash notes - for example, $100 bills, £50 notes or the equivalent in your home currency - in a safe depository that you can always access. That way, you will have money if the bank fails, you will have money if credit collapses, and you will have money if the government defaults on its debt. I suggest that you have at least some currency on hand if you expect a deflationary crash. -- Conquer the Crash, second edition, p. 164
The prices of most assets decline during deflation, so cash will buy more. Cash will be in demand; credit will be shunned. Indeed, U.S. consumers have already cut back on purchases with plastic.
Americans' credit-card debt declined in July, a sign that cautious consumers might give the economy a smaller lift in coming months. Consumers' revolving credit, which primarily reflects money owed on credit cards, fell by $1.84 billion, or at a 2.6% annual rate, in July from a month earlier. That came after a 5.2% drop in revolving credit in June. -- The Wall Street Journal, September 9
Expect the trend toward credit contraction to intensify. Make sure you have plenty of cash on hand before deflation becomes obvious.
The question naturally arises: Where can I safely store cash so I can scoop up once-in-a-lifetime bargains at the bottom of a deflationary crash?
Answer: The SafeWealth Group of Elliott Wave International tells you how you can access some of the world's safest storage facilities in their manual, Wealth Preservation in Very High-Risk Financial Times.
The window of opportunity is now open. You may not want to wait until financial fear drives throngs of people to the doors of the SafeWealth Group. Learn how to get your copy of Wealth Preservation in Very High-Risk Financial Times by following this link>>>
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