Eric King on King World News talked to Rick Rule who had this to say as to what he is doing with his money:
"If you think a roughly $70 billion bankruptcy at Lehman Brothers was a shock, think about a $300 billion bankruptcy in Europe. So there is going to be extraordinary volatility. And the most important thing your readers can do is to prepare themselves fiscally and mentally for this kind of wild volatility.
"How to prepare? To begin with you are going to need to maintain liquidity, even though maintaining liquidity, in current terms, is going to cost you some money. Does that mean you maintain all of your liquidity in US dollars? Personally I am not doing that. Personally I am trying to maintain about 1/3 of my liquidity in physical metals or proxies for physical metals.
"For the funds I oversee, I am diversifying the cash portions to about 1/3 into physical gold and silver trusts, platinum and palladium ETF’s and a uranium trust. These will be much more volatile than having cash in a money market account. People looking at the cash portions of their statements will be, at various times, elated and distressed because the value of these will be all over the place."