With the price of silver dropping earlier this week, it was the perfect time to add a couple pieces of the shiny stuff to my collection. I would have liked to add several more pieces, but I am a little leery of something that Janet Yellen stated recently.
When discussing the chance of a financial crisis, the head of the Fed Reserve stated "...I hope it will not be in our lifetimes and I don't believe it will be." Huh? This screamed of an advance warning (to those in the know) similar to Helicopter Ben Bernake's claim that the real estate market "seemed to be" healthy. We all know what occurred a few weeks later. A similar bizarre statement was issued in 1929 about the stock market's stability...and we know how that turned out.
So rather than adding even more of shiny stuff, I will stand pat with my recent purchases and add to a few more stacks that might prove to be helpful in the event that the economy implodes. Things like food and other necessary household items that could be tough to find if the event of a bank holiday.
History often repeats itself and Yellen's statement screams of the S is about to hit the fan. And while my shiny is stuff looks good, there is no amount of bbq sauce in the world that will make it tasty.
Is anyone else worried that Yellen's comment is a warning to the elite?