Thursday, June 25, 2009

U.S. Embassies Stock Piling Cash?

I have no idea what to make of this. If the rumor came out of any newsletter, other than the Harry Schulz Letter, it is unlikely I would run it. But, HSL essentially started the investment newsletter business, decades ago, and Harry Schultz has been operating in Europe for just as long, and sometimes he does hear things. So here goes. From a recent HSL:

Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments,
quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days.
Schultz over the decades has been way off base on some of his reports, and at other times has been spot on. Where on the spectrum this doozie of a report falls, only time will tell.


  1. This idea would line up with this article.

  2. Hm. In association with InfoWars? Great.

  3. ahhh.. Yeah I didn't see that

  4. @ James Rothfeld

    In association with InfoWars?

    Well that's a very big stretch. I picked up the story from HSL, and it appears that InfoWars picked up the same story. How is that an association? On a typical day, my stories are linked to by dozens of bloggers is absurd. If I link to NYT and infowars links to NYT, does that also mean I am in association with Infowars?

    You may not know Harry Schultz, I do. He started the investment newslettr business. I also note in my post that he has been dead on accurate and sometimes way off. But with the nature of the story and Schultz's strongest contacts in Europe i am not going to ignore his comment.

  5. Robert,

    thanks for clarifying. I am simply highly allergic to anything from the InfoWars types - and there are a great many.

    If the origin of the story is Harry Schultz - whom I do not know, but I take your word for it that he ain't no nut - I'll reconsider it.

    I'm just frustrated that many of the points made by pure economics are taken up by a whole array of nuts.

    Every time I talk to people about economics, many start referring to the Zeitgeist weirdo video, and I have to engage in some very rapid and hasty damage control.