Economist Jim Sinclair noted in a recent e-newsletter: “November 15th is approaching quickly. It is this date where supposed real valuations, according to accounting standards, have to be made on value-less class 3 assets.” I think Jim Sinclair is right. Thursday (November 15th) may go down in history as a financial reckoning day. Given the presently very shaky US markets, these revelations could very well precipitate a stock market drop–if not a stock market crash–led by the financial sector stocks. I pray that the readers of SurvivalBlog have all taken my advice and have minimized their exposure to stocks and other US Dollar-denominated investments. We are approaching some very turbulent times!
Our first article today is from “SurvivalistSam”, the SurvivalBlog’s correspondent in New Zealand. He is a 15 year-old homeschooler that lives on New Zealand’s South Island.