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" "I do not believe in diversification. Take a close look at
some of the greatest entrepreneurs in U.S. history. Henry Ford never
diversified; Bill Gates didn’t diversify. I strongly believe that the best
way to create real wealth is to put one’s eggs in one basket and watch
that basket (the right one) very carefully. In fact, one can go broke
diversifying.
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Almost every Fed chairman in the past 60 years has manipulated
interest rates to brighten the economic outlook for incumbent presidents
or newly elected presidents who won by large margins. The
purchasing power of the U.S. dollar has fallen 94 percent in the past
100 years. The only way you can create inflation is by creating more
money that is backed by the same reserve assets; the Fed is the only
entity that can create more money. Ben Bernanke’s quantitative easing
(QE) programs have pumped billions of unfunded dollars into the
economy, thereby setting us up for massive inflation in the very near
future. If this isn’t a form of financial terrorism, it is incompetence of the highest order.
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