Marc Faber: Normally what is the safest investment? Treasury bills, cash deposits with banks and then government bonds, corporate bonds, equities are more volatile and more risky, but they also have a higher return. And the highest risk is in commodities because, they do not generate any cash flow. But in this situation, as we have it today, I think that holding cash and government bonds is a disaster in the long run. You may hold a US treasury today and it may rally for 10 days, 3 months, but over the next 10 years it will be a disaster as to have held greek bonds.
My advice is that every responsible individual has first of all, to diversify his assets because we don`t know exactly at what stage the rebooting of the global financial system will happen. Have some money in physical gold ideally outside of the US. You should have some money in equities because as you print money, equity markets tend to go up. Own some farmland, so at least you can live when the reset will happen.Jim Rogers: Greece is insolvent, Portugal has a liquidity problem, Spain has a liquidity problem, Belgium has been cooking the books for a long time, Italy has been cooking the books for a long time and the UK is totally insolvent.
http://www.thisismoney.co.uk/news/article.html?in_article_id=519495&in_page_id=2&ito=1565