By Tom Dyson in a 12% Letter update:

[On a recent trip to] Argentina, I attended a small, private investment conference. The only speakers were Rick Rule, Doug Casey, Bill Bonner, and Porter Stansberry.

Porter gave the best speech. He presented a compelling argument General Electric is bankrupt and its stock will go to zero by 2011.

Rick's speech had the best macro-economic advice. He advised the audience to gather as much cash as they could and told them not to worry about the government's debasement of the currency. "I'm much happier to lose 3% or 4% a year than 30% or 40%," he said.

Rick is a mining and natural resource investment expert. He does not advise buying mining and natural resource stocks right now. He says there'll be another fantastic buying opportunity soon. Geothermal and hydroelectric are among his favorite stocks right now.

Bill Bonner suggested cash is also the best investment. He's not selling his gold, but he wouldn't buy it at current levels either.

Doug Casey is wildly bullish on gold and agriculture and thinks interest rates are going "through the roof."

Crux Note: Tom Dyson is the editor of The 12% Letter, a monthly advisory dedicated to bringing you the best income opportunities in the world. To learn more, click here...

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