NFTRH61 was sent out to subscribers this morning. Here is a short excerpt:If you have not yet done so, it is time to pay attention to the implications of this chart because all the while the financial media and Wall Street focused the public’s attention on the stock rally and economic recovery out of 2003, the Dow crashed as measured in gold.
Dismissing this dynamic has two major implications:
1) If the financial system is somehow held together, conventional investors will reap vastly underperforming nominal vs. real returns, and 2) if the thing falls apart, they will be left with paper stock certificates instead of historic insurance against the type of systemic excess now in force compliments of myopic policy makers who would have naive investors believe they can actually control financial forces in an orderly manner.
Why do Wall Street and the major financial media not show this simple chart to investors? Could it be because it is more important for the financial establishment to have people in their chosen assets, which can be marked up and distributed (with all applicable fees attached, of course) far and wide? Nah, our fine bullish troubadours in New York are surely not that cynically institutionalized, are they? Duh.
