Tags: Marotta | food | guns | ammo

Financial Adviser Marotta: Have Food, Guns, Ammo Ready for Financial Meltdown

By    |   Saturday, 28 Dec 2013 02:05 PM

David John Marotta, president of Marotta Wealth Management in Charlottesville, Va., recommends that clients have a "bug-out bag," including a gun, ammunition and food, in case of a financial meltdown.

To be sure, a "long and drawn out malaise is much more likely" than a "financial apocalypse," he said, according to the Washington Examiner.

But people should be prepared if a crisis does occur, Marotta says.

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As for guns, "firearms are the last item on the list, but they are on the list. There are some terrible people in this world. And you are safer when your trusted neighbors have firearms," he wrote in a note to clients obtained by the Examiner.

Marotta is concerned about several major issues. "The growing debt and deficit spending is a tax on those holding dollars," he said.

"The devaluation in the U.S. dollar risks the dollar's status as the reserve currency of the world. Obamacare was the worst legislation in the past 75 years. Socialism is on the rise, and the NSA [National Security Agency] really is abrogating vast portions of the Constitution."

Meanwhile, James Rickards, portfolio manager for the West Shore Real Asset Income Fund, maintains that another downturn likely awaits the economy.

"There is good reason to believe that the economy is heading for another recession soon, rather than the more robust growth economists keep predicting," he wrote in the Darien (Connecticut) Times.

"More than 50 million Americans are on food stamps, 26 million Americans are either unemployed, underemployed or have given up looking for work."

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David John Marotta, president of Marotta Wealth Management in Charlottesville, Va., recommends that clients have a bug-out bag, including a gun, ammunition and food, in case of a financial meltdown.
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2013-05-28
Saturday, 28 Dec 2013 02:05 PM
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