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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (23725)10/22/2009 10:52:36 AM
From: Tommaso  Read Replies (1) of 71423
 
Vi,

I am ready to go along with Warren Buffet's relatively mild pronouncement, "The dollar will be worth less" rather than the misquote of his words, "The dollar will be worthless."

In terms of its convenience as a way to settle debts, the dollar is incomparably useful, especially for U. S. citizens. The ability to walk across the street to a cash machine in Lima, Paris, Rome, and most other countries and withdraw local currency by debiting the bank account back home is in wonderful contrast to the lockbox mentality under a gold standard. So I can't see abandoning this (and its larger counterparts between banks and companies internationally) in a big hurry.

But as we all know on this thread, at least, the current U. S. government is seriously abusing this wonderful arrangement to promote its own geopolitical and domestic ends.

So I will keep my own wealth pegged to oil, gold, and some other commodities.
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