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RE: The US Dollar Is Screwed Part 2 - How I'm Protecting Myself
If I'm understanding you correctly, the innate value of precious metals will (in theory) go up as the trust in the dollar goes down. Is that right?
It's scary to imagine what will happen if the dollar experiences a serious long-term decline in value - so many people in my family and friends are fully reliant on USD.
I've never quite described it in that way, but yes, that's more or less what I believe.
Yeah, it is scary. If you earn dollars, have savings in dollars, a pension, annuity, social security, bonds, or other dollar-denominated assets, I think you'll see a significant decline in your purchasing power. The groceries that cost you $100 today, could cost $200 in a few years.
The average person is already stretched to their last dollar, so one can imagine what that would do to them.
IT'S ALREADY LOST 96% OF IT'S VALUE SINCE IT'S INCEPTION IN 1908(OR 1913 I'M NOT SURE WHICH ,BUT IT WAS THE YEAR THAT THE EARLY VERSION OF THE US FEDERAL RESERVE BEGAN CONTROLLING IT
I'M NOT AN ECONOMIST NOR HAVE I SEEN A DOLLAR CHART RECENTLY; BUT I'D SPECULATE THE DOLLAR 'S DEMISE BEGAN WHEN IT WAS DEPEGGED FROM THE GOLD STANDARD BY PRES. NIXON IN 1971.
SOME SAY HE HAD TO DO IT IN ORDER TO PAY OFF FRANCE AND WHOEVER ELSE WE WERE INDEBTED TO AT THE TIME.