Larry's take on the future.

Larry Edelson has issued his latest "Real Wealth Report." It is scary reading. Here are his two bulleted subheadings on the front page:

1. Why Obama's policy of class warfare will escalate and tear our country apart at the seams...

2. How it will deepen the looming sovereign debt crisis and eventually destroy the U.S. dollar...

His messege: we have till the middle of next year to get out of bonds and prepare for the disaster. By the middle of next year the disinflation will end and inflation will begin along with the debt crisis coming to the US shores. And the long-awaited rally in gold, past 1,900, should take off.

I still disagree with Larry that gold will drop below 1,500, but we will see. It depends on whether the ECB defends the Euro.