Boston
University
economics
professor
and
author
of
the
new
bestsellerThe
Clash
of
Generations,
Dr.
Kotlikoff
says
that
every
investor
must
own
precious
metals,
given
his
finding
that
the
official
$17.6
trillion
dollar
national
debt
figure
is
laughable,
merely
a
rounding
error
of
the
true
figure.
In
fact,
the
actual
national
debt
is
nearly
13
times
bigger,
$225
trillion
when
unfunded
liabilities
are
included.
A
few
brave
members
of
Congress
have
addressed
the
domestic
Ponzi
scheme
(like
Dr.
Ron
Paul)
but
subsequently
watched
their
financial
support
evaporate
making
reelection
prospects
challenging.
America
is
facing
an
employment
crisis
as
well;
underemployment
remains
a
key
stumbling
block
to
prosperity
and
the
American
Dream.
Dr.
Kotlikoff
insists
that
our
officials
can
solve
the
dilemma
by
getting
the
fiscal
house
in
order
and
by
fixing
the
education
system
via
reduction
of
class
sizes
to
facilitate
teaching
through
individualized
learning.
Due
to
malfeasance
within
the
SIPC
insurance
program,
no
brokerage
account
is
safe.
Dr.
Kotlikoff
won't
open
a
brokerage
account
because
any
funds
withdrawn
over
the
past
six
years
are
now
liable
to
confiscation,
putting
every
American
investor
at
risk.
Put
simply,
due
in
no
small
part
to
the
Madoff
scandal,
any
funds
an
investor
unwittingly
spends
from
a
personal
brokerage
account
is
exposed
to
SIPC
law
suits
for
the
next
six
years.
Other
than
precious
metals,
the
professor
shares
several
ideal
alternatives
to
domestic
securities,
for
avoiding
the
duel
threats
of
fiscal
irresponsibility
and
confiscation.
The
Chief
Investment
Strategist
at
Sprott
Asset
Management
for
over
a
decade,
John
Embry
sees
important
signs
that
the
precious
metals
market
has
bottomed,
including
the
accelerating
gold
shortage,
which
will
ultimately
culminate
with
a
disconnect
between
the
paper
and
physical
markets.
The
rumors
are
true,
there's
little
to
no
available
bullion
available
in
sovereign
vaults
(unencumbered,
not
leased
/
swapped),
the
gold
has
been
rehypothecated,
as
evidenced
by
the
inability
for
the
Bundesbank
to
repatriate
even
a
tiny
fraction
of
their
reserves
from
Fort
Knox.
Canada's
banking
system
is
the
envy
of
much
of
the
Western
world,
nevertheless
he
draws
the
starling
inference
that
the
recent
legislation
putting
savers
at
risk
for
financial
shortfalls
suggests
that
officials
are
bracing
for
a
Noah's
flood
sized
financial
deluge.
The
preponderance
of
evidence
/
data
suggest
that
the
greatest
risk
facing
North
America
is
a
currency
crisis,
where
the
US
dollar
suddenly
loses
it's
reserve
status
and
plunges
below
long-term
support,
further
eroding
purchasing
power
just
when
household
budgets
are
already
stretched
beyond
the
breaking
point,
held
together
by
credit
card
liquidity.
He
throws
listeners
a
life
preserver
in
the
form
of
two
of
his
favorite
precious
metals
stock
ticker
symbols,
including
Lake
Shore
Gold:
LSG
(Disclosure:
goldseek.com
employees
may
own
shares)
with
phenomenal
prospects.
But
the
exciting
news
is
for
silver
investors
-
bears
have
shorted
an
entire
year
of
silver
mining
output,
a
fact
that
could
propel
the
price
far
beyond
the
2011
peak
of
$50
and
into
the
stratosphere,
perhaps
as
high
as
the
inflation
adjusted
price
of
$150
as
billions
of
investors
cogitate
the
ramifications
of
the
imminent
global
currency
reset.
So
how
much
gold
/
silver
/
shares
is
enough
for
the
typical
investor?
Portfolios
require
a
precious
metals
allocation
of
at
least
20-25%.
Right
Click
Above
and
"Save
Target
As..."
to
download.
To
learn
more
about
software
needed
to
play
the
above
formats,
please
visit
the
FAQ.
Toll
Free
Hotline
-
Q&A:
1-800-507-6531
Professor
Laurence
J.
Kotlikoff
Boston
University
Laurence
J.
Kotlikoff
is
a
William
Fairfield
Warren
Professor
at
Boston
University,
a
Professor
of
Economics
at
Boston
University,
a
Fellow
of
the
American
Academy
of
Arts
and
Sciences,
a
Fellow
of
the
Econometric
Society,
a
Research
Associate
of
the
National
Bureau
of
Economic
Research,
and
President
of
Economic
Security
Planning,
Inc.,
a
company
specializing
in
financial
planning
software.
An
active
columnist,
Professor
Kotlikoff's
columns
and
blogs
appear
in
the
Financial
Times,
Bloomberg,
Forbes,
Vox,
the
Economist,
Yahoo.com,
and
the
Huffington
Post.
Professor
Kotlikoff
received
his
B.A.
in
Economics
from
the
University
of
Pennsylvania
in
1973
and
his
Ph.D.
in
Economics
from
Harvard
University
in
1977.
From
1977
through
1983
he
served
on
the
faculties
of
economics
of
the
University
of
California,
Los
Angeles
and
Yale
University.
In
1981-82
Professor
Kotlikoff
was
a
Senior
Economist
with
the
President's
Council
of
Economic
Advisers.
Professor
Kotlikoff
is
author
or
co-author
of
16
books
and
hundreds
of
professional
journal
articles.
His
most
recent
books
are
The
Clash
of
Generations
(co-authored
with
Scott
Burns,
MIT
Press),
The
Economic
Consequences
of
the
Vickers
Commission
(Civitas),
Jimmy
Stewart
Is
Dead
(John
Wiley
&
Sons),
Spend
Til
the
End,
(co-authored
with
Scott
Burns,
Simon
&
Schuster),
The
Healthcare
Fix
(MIT
Press),
and
The
Coming
Generational
Storm
(co-authored
with
Scott
Burns,
MIT
Press)
and
Generational
Policy
(MIT
Press).
Professor
Kotlikoff's
writings
and
research
address
financial
reform,
personal
finance,
taxes,
Social
Security,
healthcare,
deficits,
generational
accounting,
pensions,
saving,
and
insurance.
Professor
Kotlikoff
has
served
as
a
consultant
to
the
International
Monetary
Fund,
the
World
Bank,
the
Harvard
Institute
for
International
Development,
the
Organization
for
Economic
Cooperation
and
Development,
the
Swedish
Ministry
of
Finance,
the
Norwegian
Ministry
of
Finance,
the
Bank
of
Italy,
the
Bank
of
Japan,
the
Bank
of
England,
the
Government
of
Russia,
the
Government
of
Ukraine,
the
Government
of
Bolivia,
the
Government
of
Bulgaria,
the
Treasury
of
New
Zealand,
the
Office
of
Management
and
Budget,
the
U.S.
Department
of
Education,
the
U.S.
Department
of
Labor,
the
Joint
Committee
on
Taxation,
The
Commonwealth
of
Massachusetts,
The
American
Council
of
Life
Insurance,
Merrill
Lynch,
Fidelity
Investments,
AT&T,
AON
Corp.,
and
other
major
U.S.
corporations.
He
has
provided
expert
testimony
on
numerous
occasions
to
committees
of
Congress
including
the
Senate
Finance
Committee,
the
House
Ways
and
Means
Committee,
and
the
Joint
Economic
Committee.
John
Embry
joined
SAM
as
Chief
Investment
Strategist
in
March
2003,
with
a
focus
on
the
Sprott
Gold
and
Precious
Minerals
Fund.
He
plays
an
instrumental
role
in
the
corporate
and
investment
policy
of
the
firm.
Mr.
Embry,
an
industry
expert
in
precious
metals,
has
researched
the
gold
sector
for
over
thirty
years
and
has
accumulated
industry
experience
as
a
portfolio
management
specialist
since
1963.
After
graduating
from
the
University
of
Manitoba
with
a
Bachelor
of
Commerce
degree,
John
Embry
began
his
investment
career
as
a
stock
selection
analyst
and
Portfolio
Manager
at
Great
West
Life.
He
then
became
Vice
President
of
Pension
Investments
for
the
entire
firm.
After
23
years
with
the
company,
John
became
partner
with
United
Bond
and
Share,
the
investment
counseling
firm
acquired
by
Royal
Bank
in
1987.
John
was
named
Vice-President,
Equities
and
Portfolio
Manager
at
RBC
Global
Investment
Management,
a
$33
billion
organization
where
he
oversaw
$5
billion
in
assets,
including
the
flagship
$2.9
billion
Royal
Canadian
Equity
Fund
and
the
$250
million
Royal
Precious
Metals
Fund,
the
#1
ranked
fund
across
the
country
for
its
2002
net
performance
of
153%.
For
more
information
about
Sprott's
award-winning
investment
professionals
and
their
market
insights,
please
visit
us
at
www.sprott.com
or
contact
us
at
invest@sprott.com.