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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (6635)	4/28/2008 9:52:09 AM
From: Tommaso	Read Replies (3) \| Respond to of 71463

The only cheerful thing that occurs to me about the U.S. financial scene is that at this time an individual still has the opportunity to try to find protection from it--and even profit from it. It's when the government starts to criminalize economic survival that things will really get bad. And it can happen. Roosevelt criminalized the ownership of gold and then cut the gold value of the dollar by 40%. So persons who had protected themselves by holding onto sound money suddenly were treated like people hoarding more food than they could possibly need in the midst of a famine. It is not at all clear that the results justified Roosevelt's action; most people now agree that the demand for war equipment from Europe was what pulled the U. S. out of the Depression. There was a dismal front-page story in the NY Times yesterday predicting that no matter who wins the next election, there will be increased government spending and debt. I see no hope for the U. S. dollar.