Shortly thereafter, we got Jimmeh Cahtah and cardigan sweatered, fireside chats, I guess to disarm our anger and frustration at 22% interest.
Those commercials (We Buy Gold), have re-surfaced,
I was never one to understand money, except to work for it, get it and spend it.
But if history is any teacher ... there's another Jimmeh on the ho-rizon.
Buckle up folks ... this ride will be the roughest.
Inflation is rampant in commodities. Agriculturals, metals and energy. Tue US$ losing it’s purchasing power is partly to blame. People have sold the US$ to buy the Euro. In the coming months we’re going to see the Euro sell of as well, but that money probably won’t flow back to the US$.
There’s a new game in town. The US$, the Euro and most every other currency are unbacked paper fiat currency. Not in mankind’s last 4,000 years has a fiat currency ever survived the test of time, not once.
The Chinese now hold the largest reserves of gold and silver in the world..........there is evidence to suggest that sometime in the near future the Chinese will announce that their currency, the remnibi, will be backed by gold and silver. If, or when this happens, you will see trillions of $’s of US, Euro, Swiss Francs and the like being sold in order to buy the remnibi.
I hate to say it, but it’s not hard to envision China becoming the dominant player in the world economically and perhaps military wise as well, within a fairly short time frame of a decade or less.