I just stumbled across this little gem on Youtube -- it's positively chilling to watch. While America's problems (along with most of the rest of the world) are multitudinous, there's no doubt that this particular action was essentially the beginning of the end.
If you are unaware, the closing of the gold window in 1971 meant that the US dollar, ostensibly backed by gold prior to this action, became a pure fiat currency. A dollar was worth (and redeemable for) 1/35th of an ounce of gold at the time. Now worth only 1/1200th of an ounce of gold, simple arithmetic would indicate that we've already been wiped out over a mere 40 years. I predict that within five years time, the dollar will be worth only a fraction of what it's worth now (so please, if you HAVE money, buy some gold before you get wiped out too).
What is your preferred instrument for acquisition?
ReplyDeleteAcquisition of what?
ReplyDeleteGold.
ReplyDeleteAh, that. Right now I've been playing around with a forex account and am considering putting in some live funds. You can bet on XAU/USD along with the other currencies, and the nice thing vs. other markets is that there are a very limited number of options. It's extremely volatile, but if you take small positions with limited ends, you can make some cash. While I speculate short term on the currencies, I've got longer-term positions on gold. If I ever get some real money I'll buy some bullion and stick it in a safety deposit box in a local bank.
ReplyDelete