Poor America: 7 in 10 Americans have less than $1,000 in savings

http://planetfreewill.com/2016/10/10/poor-america-7-in-10-americans-have-less-than-1000-in-savings/

Nearly seven in 10 Americans (69%) had less than $1,000 in their savings account.

Breaking the survey data down a bit further, we find that 34% of Americans don’t have a dime in their savings account, while another 35% have less than $1,000.

If your country’s broke, don’t hold all of your savings there

https://www.sovereignman.com/trends/if-your-countrys-broke-dont-hold-all-of-your-savings-there-18922/
 

The Majority of Millennials Have $1,000 or Less in Savings

http://howmuch.net/articles/how-much-millennials-have-saved-up?preview=true

Protecting Your Savings In The Coming Bail-In Era

http://info.goldcore.com/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins

Blood in the Streets

As I've said since April, gold and silver have been the most hated asset classes, reaching all-time lows in sentiment indicators. Yet, since the June 27 intraday low of $18.20, silver is up over 18%. The mining shares have done even better. This is contrarian investing at work--buy when there's blood in the streets.

Remember:  Wall Street and the media told all of us that gold's bull market is over, advised us to sell and get out of precious metals.  I said to do the opposite.  The "pundits" missed the 12-year bull market in gold, and then all of a sudden (on price weakness) declared they were experts on gold being in a bubble.

In other words, they had no idea why precious metals prices appreciated for 12 consecutive years, and now we're expected to listen to them on why prices are declining.  I'm not saying they're all crooks--most mainstream financial advisers are well-intentioned.  They just don't get it, because economics textbooks preach that the USDollar is king, and precious metals--if mentioned at all, are barbarous relics.

As for the financial authorities in the media--they are crooks because they will do everything in their power to dissuade you from owning the very assets which protect you from currency debasement.   That's just financial reality, and the sooner you accept that, the better your investment returns.

To prove it to you--and older folks will relate to this better, but tuition, room and board at Yale University is $70,000 a year now.  A Physics textbook costs $350 today.  When I was in college 30 years ago, a bonehead Physics textbook probably cost $30.

My message to all of you:  buy more physical bullion if you have less than 5% of your savings in precious metals, or at least stay the course.  Buy methodically and layer in purchases by dollar-cost averaging--or buy the dips, because frankly, nobody knows what prices will do tomorrow.  But longer-term, as long as sovereign debt levels continue to rise, and as long as central banks continue to debase their currencies, by no means should you sell your physical holdings in a panic because the "experts" tell you to.

They will always be wrong in that aspect, because the government is mandated is to protect the reserve currency status of the USDollar at all costs.  Meanwhile, the rest of the world, including China, Russia and their trading partners, are trying to diversify away from the dollar.  Your mission is to do the same, and protect your savings with physical precious metals.

Good luck to us and happy hoarding!

New sign of tough economy: More 401(k) loans

http://www.cbsnews.com/stories/2011/06/09/earlyshow/living/money/main20070292.shtml

Federal budget savings

In an effort to curb federal spending, departments and agencies came up with $102 million in proposed savings. The problem is that this year's budget deficit approaches $2 trillion. It does indicate our government is bloated and highly inefficient.

http://online.wsj.com/article/SB124882436513388423.html