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Get Out of Your Dollar Assets Now! 2/1/2011 1:22:51 AM
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As a banker for over 50 years, I’ve watched our economy rise and fall. I lived through the recessions of ’72 , ’78 ’87 , 98, ’02 and ’08. At no time in my entire banking career have I ever seen a confluence of economic and political influences merging to form the perfect economic storm that is forming right now. These events will render fiat money from all countries of the globe. worthless. Within the last 30 days virtually every Mediterranean country is experiencing massive civil unrest (say riots) All of that chaos is causing the markets to run scared.
Here is what Legendary newsletter writer Richard Russell sees on the near horizon.
With gold and silver near recent lows and the US Dollar having broken key support at 78.50, the Godfather of newsletter writers Richard Russell had this warning for his subscribers, “Remember, many leading nations want to eliminate the US dollar as the world's reserve currency. If this happens, it will be one of the worst financial catastrophes in US history.”
The real news, the critically important news, centers around the US dollar. It's as if you are reading a report on a building you want to buy. The report tells you all about the heating system, the repairs to the roof, the condition of the wood floors, but the report leaves out the critical fact that the foundation of the house is crumbling.
So it's the dollar, the dollar, the dollar, that I'm directing my subscribers' attention to. If the dollar collapses, every investment you own will be adversely affected -- your home, your stocks, your insurance policies, your bonds, your 401K -- everything that is denominated in dollars.
The Russell advice -- swap your dollars for physical gold. In other words, do as China and Russia and many other nations are now doing -- get out of your dollar assets.
I realize that what I've written above may seem outlandish to many subscribers. Outlandish? Then you tell me how the US is going to finance a national debt of $13.9 trillion (some say the real debt is over $50 trillion). The fact is that we now BORROW just to pay the interest on the national debt. Treasury is moving the debt to ever-shorter maturities, hoping that the current zero interest rates on short debt will ease the situation. But with bonds sinking, rates are now rising, so what's the answer?
The answer is that we're eating ourselves up alive through compounding interest on our debt.
There's only one way out that I can think of. The dollar amount of our national debt stays the same. But the item that we pay the debt off with -- is variable, and I mean the dollar. Thus, our government hopes to pay off the carrying charges of the debt with cheaper dollars -- MUCH cheaper dollars.”
My friends, I know how easy it is to get caught up in our business world and fail to keep track of events that can, and will, shape our lives in the future. Our financial success can be destroyed in a timeframe so short, it will be over before most people realize it’s happened. More than once, I’ve seen market moves so dramatic and significant occur in less than one hour. Billions of dollars would disappear in a blink of an eye. Are you willing to risk a lifetime of accomplishment wiped out in a “New York Minute?”
Please take a few minutes to look at some alternative options to dollar based assets before a tsunami arrives and renders your dollar assets valueless. Fortunately, your window of opportunity is still open and you have a limited opportunity to educate yourself, prepare and prosper.
If you’ve ever bought gold or silver bullion, you know most dealers charge hefty markups. You could end up forking over 10%, 20%, and at times even 30% more than the “spot price.”
Gold bullion is real, honest money...and, many say, the best form of money the world has ever known. Gold is rare, durable and does not wear out in the manner of lesser metals (or paper money!) when passed from hand to hand. A small amount, easily carried, can purchase a significant amount of goods and services. It is universally accepted and can easily be bought and sold around the world. Leading investors and economists such as Marc Faber, Peter Schiff, Warren Buffett and Robert Kiyosaki say that the economy hasn't reached rock bottom yet and will get much worse. They have been recommending that we keep from 5% to 20% of our assets in the form of flexible units of gold or silver, so we in the event of hyperinflation still can acquire essential goods and services.
Experts agree, gold will at least double in value over the next 10 years and they recommend that you invest between 5 and 20 % of your assets in gold. Especially gold from KB Edelmetall is attractive; it is certified and made in ...small units.
KB Edelmetall is FREE to join, To be a KB Franchise Partner is a great opportunity offered to you. Governments world wide are driving people to GOLD.
With a KB Franchise, you can protect your own assets AND substantially profit from referring people to KB Gold.
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