Investing in bad times .
Company bonds are NOT necessarily safer in difficult times .
Extract source .
Bonds which never pay back principal, yield only 1%, and are converted
to equity if the issuer gets into trouble (that is, at exactly the time when
you don’t want to own their stock), are being enthusiastically snapped
up by Japanese investors. After similar instruments have already blown
up in Europe.
All paper is a short position on gold . “Gold is money. Everything else is credit.”
“If we don’t believe in freedom of expression for people we despise, we don’t believe in it at all.” ( Noam Chomsky )
‘you can judge a man’s spirit by the amount of truth he can tolerate.’ .... Nietzsche