Here is a link to the Money News’ latest report on the collapse of the dollar:
James Dale Davidson, Jim Dines, The Weiss group and others have written about this event. In fact, I published an article by Davidson on this topic last fall. I think you should watch the above video, all of it, and think it through.
Look, everyone is involved in this to make a living and Money News is selling “advice,” but that doesn’t make their message any less valid. Silver (and gold) are the number one and two performing assets over the last 10 years, so owning, or buying gold stands on its own merit. But, you also get the best form of financial insurance possible, in addition to an investment that holds its own against all comers. Here is a chart published by Jim Dines that proves the point.
So, my suggestion for today is to watch the video – Jim Rickards is the real deal. He is one of Gerald Celente’s key contributors on the economy. Take him seriously. I do. You will be in good company – Jim Rickards, James Dale Davidson, James Dines, Martin Weiss, Jim Willie and Miles Franklin are all in agreement on this scenario. Truth be told, so is Jim Sinclair – or else, his “gold way above $3500” would never come to pass. You cannot afford to be wrong about this. You really need to be aware of the already-in-process attack on your dollar holdings!
One of our most in tune readers, and a long-time friend of Miles Franklin sent the following to us. His comments were, “About as direct and succinct a description of our economic folly as can be. BUY GOLD.” I am not trying to be “political” here, but the FACTS speak for themselves. Like Bill Holter often says, “It’s a mathematical impossibility!” It’s tragic our President, with the help of this Liberal Congress, can’t add one plus one and come up with two. We will ALL pay the price for this naiveté.
The Wages of Obama’s Sins – StansberryResearch.com
By Porter Stansberry
We begin 2013 in awe of what’s happened to our country…
Since 2008, when President Obama was elected, the official, net public debt of the U.S. federal government has increased by $5.5 trillion.
That’s more than double the size of the total net public debt of the U.S. in 2007, the year before Obama was elected ($5.03 trillion). These additional new debts have swollen the total net debt of the federal government to more than $11 trillion, or roughly 80% of GDP.
These overwhelming public financial obligations are completely unprecedented in the history of our country, outside of the two major global wars we fought in the 20th century.
But even these incredible figures don’t tell the real story. Or even half of it.
You see, these are merely the debts that we, federal taxpayers, are actively paying interest on right now. These don’t include any of the additional $4.8 trillion in debts held by various government agencies (but which still cost us interest every year). Nor do they include any of Fannie Mae’s or Freddie Mac’s obligations, two private companies that were taken over by the federal government during 2008 and whose total obligations stand at a little more than $5 trillion.
We’ve paid nearly $200 billion in interest for these obligations, though they remain completely off the federal balance sheet. Nor do these numbers include any of the trillions of dollars in additional Federal Reserve assets that have been created out of thin air to manipulate the market rate of interest lower during this period of rapidly growing demand for federal debt.
When you add these other, genuine, federal obligations that exist right now, today, you come up with a total debt figure that’s much more than $20 trillion. Far more than half of these debts were assumed under President Obama.
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