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Strategies & Market Trends : The coming US dollar crisis
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To: the navigator who wrote (14441)11/13/2008 2:41:23 PM
From: Don Earl3 Recommendations  Read Replies (2) of 71412
 
While I sincerely doubt someone spaming people's inboxes are privy to G-20 secret meetings, I do lean toward the idea a gold standard based on a substantially higher gold price could reverse the depression we're entering.

What if the wife's wedding band were suddenly worth enough to pay down the mortgage and save the house? Just about everyone has a little bit of gold in one form or another.

It wouldn't take broad based asset inflation to do the trick, just the inflation of a single asset - gold. Governments could print up just about all the money they wanted pegged to $50K per ounce, and gobble up the world's gold supply in the process. There wouldn't even be any need to devalue currencies. Just print up gold certificates in tenth ounce increments up to $50K for a one ounce certificate. Use it to buy gold or dollars, or to sell gold for dollars.

The alternative being a global revolution that would likely have every banker hanging at the end of a rope, with every politician in the world dangling next to him. Of course they could all hide in bunkers for awhile, but it probably wouldn't be much fun ruling a world with no people in it, and they'd end up having to work to live once they crawled out of their holes.
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