17 March 2011

Bye Bye U.S. Dollar


What is Going to Happen to America's Currency?

US backing for world currency stuns markets. US Treasury Secretary Tim Geithner shocked global markets by revealing that Washington is "quite open" to Chinese proposals for the gradual development of a global reserve currency run by the International Monetary Fund.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance. Read more at The Telegraph

The following is from an e-vertisement on how to protect your money/savings. Of course at the end of the shpiel is something to buy, however some of what is written is worth noting:

Barton Biggs reports in his book, Wealth, War, and Wisdom:

"By the end of 1935, 100,000 Jews had left Germany, but 450,000 still [remained]. Wealthy Jewish families... kept thinking and hoping that the worst was over...

Many of the German Jews, brilliant, cultured, and cosmopolitan as they were, were too complacent. They had been in Germany so long and were so well established, they simply couldn't believe there was going to be a crisis that would endanger them. They were too comfortable. They believed the Nazi's anti-Semitism was an episodic event and that Hitler's bark was worse than his bite. [They] reacted sluggishly to the rise of Hitler for completely understandable but tragically erroneous reasons. Events moved much faster than they could imagine."


The Normalcy Bias

We simply refuse to see the evidence that's right in front of our face, because it is unlike anything we have experienced before. The normalcy bias kicks in... and we continue to go about our lives as if nothing is unusual or out of the ordinary.

Well, we're seeing the same thing happen in the United States right now. We have been the world's most powerful country for nearly 100 years. The U.S. dollar has reigned supreme as the world's reserve currency for more than 50 years.

Most of us in America simply cannot fathom these things changing. But I promise you this: Things are changing... and faster than most people realize.

13% OF POPULATION ON FOODSTAMPS

Did you know that there are now nearly 42 million Americans on food stamps? That's nearly 13% of the entire population. Those numbers are up 17.5% from last year... and the number of Americans on food stamps has gone up every month for 19 months.

Can a country really be in good shape when 13% of the population can't even afford to buy food?

SHANTY TOWNS COMING TO YOUR NEIGHBORHOOD

Although it's gone almost completely unreported in the mainstream press, in a dozen or so cities across the nation (like Fresno, Sacramento, and Nashville), there are hundreds of people living in modern-day, Depression-era shanty towns.

The Fresno shanty town has received the most publicity, after a visit by Oprah Winfrey. There, about 2,000 residents are homeless. They even have a security desk at the shelter, because the encampment has gotten so large. City officials say they have three major encampments near downtown, and smaller settlements along two local highways.

43% OF AMERICAN FAMILIES ARE ESSENTIALLY BROKE

According to a recent article on MSN Money, about 43% of the American families spend more than they earn each year.

The Wall Street Journal reported:

"Over the last year the stock market has followed a path eerily similar to 1937. First, a strong, rapid run to a recovery high – same pace, same magnitude. Then a correction – again, the same. Will we continue on the path that led the correction of 1937 into a collapse in 1938?

A looming currency crisis is inevitable

Jews in America, maybe, just maybe it's time to reconsider a change.
"Location, location," as as is known in real estate lingo, is everything.



1 comment:

Anonymous said...

it looks like it's a s Stansberry report