This article from Peter Schiff’s Euro Pacific Capital Market Commentary suggests that the world is gearing up to reject the Dollar as the world reserve currency. This could be very significant for Americans. Dollars will quickly become worth much less if they are no longer desired around the world.
Suiting Up for a Post-Dollar World
By John Browne
The global financial crisis is playing out like a slow-moving, highly predicable stage play. In the current scene, Western governments are caught between the demands of entitled welfare beneficiaries and the anxiety of bondholders who fear they will be stuck with the bill. As the crisis reaches an apex, prime ministers and presidents are forced into a Sophie’s choice between social unrest and bankruptcy. But with the “Club Med” economies set to fall like dominoes, the US Treasury market is not yet acting the role we would have anticipated.
Our argument has always been that the US benefits from its reserve-currency status, allowing it to accumulate unsustainable debts for an unusually long period without the immediate repercussions of inflation or higher borrowing costs. But this false sense of security may be setting us up for a truly monumental crash.
He makes the point that because 70% of it is computer trades and because the banks can manipulate it, the stock market is unreliable and unpredictable. It no longer reflects the future strength of companies. I haven’t done much research on this. Anyone have any comments?
This is a good video. Peter Schiff responds to recent attacks on Ron Paul by the mainstream media. The media claims that Ron Paul is legislating for sound money, gold standard, ending the fed, etc simply because he owns gold, silver, and gold/silver stocks. The are trying to claim that the good doctor is looking out for his own interest. Watch.
Sorry for the subtitles : ) Not sure what language it is.
This 15 page report contains important information. Share it with everyone you know. Protect yourself from the coming inflation crisis!
Very interesting indeed. Several Gold Analysts Predict a Rise in Gold as High as $10,000 Per Ounce
This article from USA TODAY was particularly interesting to me, as I am a Gen Y baby. It provides some excellent insight and statistics on my generation as a whole. Most have been brought up very comfortably, enjoy spending, are in debt, have no savings, have trouble finding jobs, and (this part makes me smile) are very opinionated!
(article, photos, and captions from USA TODAY)
This is an excellent article by Bill Frezza. It was published April 12, 2010 at Real Clear Markets. I saw the article on Peter Schiff’s company’s website europac.net.
The article discusses why people are leaving the US and the effects it will have on the country. It is witty and thought-provoking.