Learning vs Unlearning Financial History.....................from Rico

If you REALLY think that the same 40# brains that created our financial crisis in the first place are somehow going to 'fix' or 'solve' it, remember the delete button is your friend.

- Use it NOW.

Otherwise, let's celebrate an anniversary of sorts while looking at the macro picture and ignoring the micro picture.

- Let's 'learn' from financial history, instead of willfully choosing to ignore it....or even 'unlearn it.'

On 15 Sep 2008, Lehman filed bankruptcy.

- This Sunday marks five years since that event. You know perfectly well what has been happening since then.

Since the collapse, nothing has 'changed' (well, except maybe you're poorer and the TBTF banks are bigger) and nothing appears to have been 'learned'....the 'same' policies, and 'more of the same' policies remain with us.

- Oh, yay.

Equities are not only risk assets, they are now VERY risky assets, yet the conventional wisdom is to be LONG equities and SHORT commodities (especially bullion).

- A 5-10-20% 'correction' when the FED takes away the spiked punch bowl is gonna leave a permanent dent in many portfolios.

The financial media still disparages and 'talks down' the importance of having some physical bullion, especially this past week in the wake of the FED and BIS 'drive by hit' on the precious metals.

- But back to Lehman. Physical bullion is an important safe haven asset and financial insurance against the very real risk of systemic, financial, and economic crises. In Dollar terms, Gold has risen 73% and Silver 100% since the Lehman collapse.