Skip to comments.US dollar: Prepare for a prolonged devaluation
Posted on 10/28/2010 9:41:40 AM PDT by Nachum
Those nagging whispers warning that the United States is heading for an Argentina-like currency crisis are getting louder. The prospect of a prolonged devaluation of the US dollar is just one more challenge in what has already been a difficult period for savers and investors. Have we really reached the point where the greenback is in danger of becoming an also ran currency? (Snip) This correction has already started as millions of unemployed Americans can attest. The Federal Reserve has conceded that unemployment will remain elevated through 2011.
(Excerpt) Read more at csmonitor.com ...
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Prepare for it to be devalued even more! Prepare for your savings to be worthless too this is really a back door bailout for the banks a run around congress and you will be footing the bill.
Whenever a new dollar is introduced into the system, every other dollar in existence loses a little bit of value.
When trillions of new dollars get introduced into the system, it has the potential to create an inflationary nightmare. Not to mention what this does to savers and small banks you can bet more of them will close.
A Paralyzed Fed Defers Decision On Monetary Policy To Primary Dealers
The devaluation, when it happens, will be shockingly quick, and will bring the dollar to about 25% of its current buying power.
FRiends, do not be in cash or bonds when it happens.
>>”...devaluation, when it happens, will be shockingly quick...”
I agree. It can happen overnight via “Executive Order”.
Can you say CW2?
Brilliant article, thanks for the link blam!
You must not have savings
You must have investments that rise with the inflationary tide.
The pier might get submerged with the inflationary tide but the boat with a long painter will float upward