Well here in Umbria the sun is starting to shine again, we’ve twice had lunch out in the garden last week, and I even read a few pages of a book, and snoozed for a minute or two.

You are I’m sure reading doom and gloom on every front page, and seeing it played back minute by minute on the TV screens, but how about the news of the imminent collapse of the US economy?

You’ve missed it, aah, you were watching the sport, or the news from Baghdad, Iran or Afghanistan perhaps.

Did you know that the publication of the US M3 money supply details, (how many billions of greenbacks are being printed each month); the fundamental support of the US economy in fact, which enables foreigners and Americans alike to gauge the value of the dollar in their pockets; is no longer going to be published, and in fact withheld? You didn’t know? Then look at www.safehaven.com, where all is revealed. Frightening isn’t the word. Remember the Weimar Republic?

And, while you’re there, read up on Iran’s proposal to launch the PetroEuro, which seriously would launch the cat amongst the dicky birds, or the whatnot against the fan. Countries have been known to invent wars on shakier pretexts.

Yes, you say, but gold is up, of course it is if everyone is leaving dollars. But perhaps you don’t remember that in the 1980’s gold was trading at over $800 an ounce! So, yes, it is up, from the bottom, but it’s still at only 5/8ths of ist value 25 years ago. Is it up, or what?!?

The Euro is also up and that’s why European property is a much better hedge than British houses with nineteen consecutive months of falling prices. And as for the US housing market and Fanny Mae’s involvement, helped by Freddie Mac, and the billions of dollars in “accounting” errors that have taken place. Fannie Mae, Freddie Mac I hear you ask? Huge US government agencies who buy up mortgages where the mortgagee defaults. Someone agrees to buy a house and can’t pay the repayments so the US government steps in to buy up the mortgage. It wouldn’t do to have too many houses flooding onto the market, it might just depress prices, so buy up the houses, keep up the property values and everyone is happy. Oh, and by the way, print more money for this and the two wars, but don’t tell anyone how much you’re printing by concealing the M3 supply. Don’t want to frighten them, do we? Have a look at the article “The United States of Real Estate” by Robert Blumen. www.lewrockwell.com.

Lead soldiers are a pretty good hedge, www.soldierssoldiers.com, and so are Italian postcards, www.cartolinetunstill.com, but only really for smallish amounts of money and only possible after a considerable period of investigation.

So, back to bricks and mortar, but where? England………..mmmmmmmmm!!! USA………mmmmm!!! Roumania, Croatia etc……prices seem to be increasing……as they did in Spain and Portugal for several years, where now they are building so cheaply, and so prettily, that the second-hand units of five and more years ago are becoming abandoned as their resale value falls.

So where then? Why……..Umbria,….. Italy. www.propertiesumbria.com, where prices have increased by fractionally under 10% year on year, on year, since we started selling properties 23 years ago. Have a look, it might just be the sort of tranquil haven that you need for your stressed out body, mind, dollar and pound. You can even buy shares in a portfolio of properties, and become an investor.

And to enable you to relax for a few days try www.lapreghiera.com, a country house set in the green heart of Umbria. Come and visit and we can talk things over.

Best wishes,

John Tunstill