Posted on 06/07/2015 2:12:56 PM PDT by bob_denard
The same force that made the US dollar the world’s reserve currency is now working to dethrone it.
22 July 1944 marked the official conclusion of the Bretton Woods Conference in New Hampshire. There, 730 delegates from 44 nations met at the Mount Washington Hotel in the final days of the Second World War to devise a new international monetary system.
The delegates there were acutely aware that the failures of the international monetary system after the First World War had contributed to the outbreak of the Second World War. They were determined to create a more stable system that would avoid beggar-thy-neighbor currency wars, trade wars and other dysfunctions that could lead to shooting wars.
It was at Bretton Woods that the US dollar was officially designated the world’s leading reserve currency — a position that it still holds today. The Bretton Woods system pegged all major currencies to the dollar at a fixed exchange rate. The dollar itself was pegged to gold at the rate of US$35 per ounce. Indirectly, the other currencies had a fixed gold value because of their peg to the dollar.
(Excerpt) Read more at dailyreckoning.com.au ...
I would look for gold to go back to $450-600 under Cruz. $4,000 under Hillary.
Exit to where? Space?
No be prepared to sustain yourself for awhile. We are likely looking at a slow devolution into a global collapse. Make sure you can feed yourself and I’d have some gold and silver. Well it will probably never happen silly me. :-)
I was looking to buy a new 23 foot Yamaha boat 18 months ago and it was $45,000. Today the price is $65,000. I passed on the boat!
Why? During obama gold got clobbered and stocks did fine. Of course not because of obama but in spite of obama. Stocks rose because interest rates are so low money has nowhere else to go. Whether it is hillary or some RINO elected in 2016 I don’t see much changing for a while until there is some external event like the 2008 type financial crash — which could pop up some time but probably unexpectedly
Are you kidding? I made a TON of money on 0bama. It was clear to me when he was elected the nation had lost it’s mind and put a Marxist in the White House. I bought at $800 and sold two years later at $1800. (Something like that, it has been a while now.)
I have long been thinking that much of our current mess is the result of the endless money spending spree coming out of Washington D.C.
They have learned how to tax people's savings without them even being aware of it. Every time they print a new dollar with nothing backing it, the value of existing dollars decline.
Nobody wants the party to stop and it's going to end up killing us.
Not really, China has been pushing a currency change and no one even knows what the real Chinese.financial status is.
No, I`ll just trade some of my lead.
Land outside of a city for sure. Gold. Silver. Guns. Alcohol. Yeah, they'll tax you on the land, but I consider it an essential. You just have to make it pay for itself if possible.
The best way to protect assents is to insure people don't know you have them.
not sure what you mean. You said you bought gold when Obama was elected and then you sold it two years later. That was during the financial crisis that started in 2008 - actually before Obama was elected. Obama has now been in office over 6 years.
I was just commenting on what you said about investments tanking under Hillary — well they haven’t under Obama. One can run a chart of Gold vs S&P since 2010 or so. A picture is worth a thousand words. Stocks have done well. Gold has not. Over the last 5 years stocks have an annualized return over 17% a year. Gold has gone down 1% a year over the last 5 years and down 10% a year over the last 3 years. That is all with a marxist in the WH.
I would never invest my money based on politics, idealogy and just who happens to be in the WH. It is far more complicated than that — as you know I am sure.
it’s been whimpering for a while, these dollars
Yup. The whole system is running on fake money right now, and it's causing the loss of value of real money.
You do understand that those gains aren't real? You do know what's driving all that "growth" in the stock market?
The problem most people have is not stock market returns or crashes or lousy politicians but rather the fact that they won't save enough. That is the key. The rest is noise.
I’ve been following for years and years the so-called advent of a world system of currency. Currency valuations have been the subject of Basel III talks for the longest time and software for valuation is already developed and ready to be deployed. The launch of this software has been “just around the corner”, “ next month”, “later this year” etc. for years now.
And oh so many people think of themselves as experts in this arena of bullsh*t. To listen to them one would think this is so real and is going to happen.
And I have talked to billionaires.
And I have talked to Swiss Bankers so high up and so connected that for awhile I thought this has got to be a sure thing.
So I am not exactly a newbie at this.
And when I say it’s bullsh*t, you can be sure it’s bullsh*t; you can take that perspective to the bank.
But I know a lot of people on this subject and in this thread will want to see themselves express their profound observations, thinking themselves oh so smart and informed.
I’ll leave you with this little anecdote to illustrate the vacuity of this ‘CHINA WILL RULE’ bullsh*t.
A senior agent in Her Majesty’s Secret Service. a member of MI6, a Scotsman of an old Scottish family, a true James Bond type of character, known to be a person that could and would ‘make people disappear’ or take rogue currency criminals on helicopter rides with the cargo door open to get a nice view of the desert below, and who was and is residing longterm (25+ years) in Hong Kong under the cover as a senior gold trading specialist executive Vice-President and fully informed of every currency development worldwide, had this to say about this subject:
“The problem is the Americans play the game too well”.
I will tell you this much. I have moved massive amounts of money (for me anyway) three times. Each time relative to an election. Sore/Loserman. Moved 100K out of mutual funds to cash. All at once. Avoided a 40% drop. Second time, 50% drop. Missed me entirely. Then I made $1,000 an ounce on Obama. I never timed a market, just elections.
So in collapsed scenario you will just shoot everyone when you need something, no bartering for you. That is pretty animistic. Better watch your back in that case.
well it does sound like you DO try to time the market. Just curious - what percent of your funds are in stocks now and what percentage were in stocks over the last five years?
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