The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: RockyBalboa who wrote (9478)	7/11/2008 4:50:01 PM
From: carranza2	Read Replies (1) of 71475

The FCBs are so swollen with USDs that they can't help but be partners in crime. Until they decide enough is enough. That is not going to happen overnight. A basket of currencies as the reserve is not good either because no paper-backed currency is worth a bucket of warm spit. Until a full or partial metal basis is decided upon, the same thing will happen over and over regardless of which currency serves as reserve. Folks forget history, think that gold is so damn 18th and 19th Century. Well, that is so, but can you tell me what the inflation rate was when the USD was backed by metal? Virtually nil for way over a century. Inflation hit us hard only after metal was taken off the table as the basis for the buck. People don't know and don't believe that something so ancient as a metal backed currency can do wonders for us. So, I park a lot of my wealth in gold because the fundies and history always, always assert themselves. Prediction: We will have a metal based reserve currency sooner or later but definitely within the next 25 years.

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