"Dollar collapse" off the record

Discussion in 'Financial Cents' started by Jonas Parker, Nov 18, 2007.

  1. Jonas Parker

    Jonas Parker Hooligan

    and from Jim Rawles at www.survivalblog.com...

    Off the Record Comments from a Saudi Prince: Possible Collapse of the US Dollar

    A big red flag went up on Saturday, when a "must read" article was published on the web site of The Business (a British international business news magazine): Saudi minister warns of dollar collapse. I loved the bit about the inadvertently open microphone. There is something about "off the record" comments about a potential US Dollar collapse that is strangely reminiscent. (I just can't quite place it...)
    Meanwhile, our friend Stephen in Iraq pointed out this article signaling trouble ahead: US inflation reaches 14-month high. The economic pendulum is definitely starting to swing more violently. I predict that things will turn ugly, possibly quite soon. Once the dominoes start to tumble, countless billions will be wiped out overnight. The derivatives markets are now on the multi-trillion dollar scale, and perched on a precipice. Tomorrow's headlines will be full of: failed hedge funds suspending all redemptions, stock market collapses, currency collapses, emergency controls on expatriation cash flows, mass inflation, huge taxpayer-funded bailouts, corporate layoffs, $150 per-barrel crude oil, bank withdrawal restrictions, full scale bank runs, and soaring credit card and mortgage default rates. I can't give you specific time frames for any of these, but I can tell you that we are much closer to living out Chapter 1 of my novel "Patriots" than I've ever seen before. Be prepared!
    I spotted this news story linked at The Drudge Report: The dollar's decline: from symbol of hegemony to shunned currency. Think this through to its logical conclusion, dear readers. Get your investments out of anything dollar-denominated, as soon as possible. Don't let the current relative strength of the Euro and Pound fool you. All of the world's un-backed paper currencies are on the same downward spiral. It just so happens that the US Dollar is now leading the pack in the race to the bottom. In this economically turbulent decade of the Aughts, the safe place to put the majority of your assets is in tangibles. (First and foremost is a viable retreat in lightly-populated farming or ranching land with plentiful water.) Speaking of tangibles, I noticed that spot silver has dipped back down into the $14.40/ounce range. This might be your last chance to buy some before it zooms up past $20 per ounce.
    Those off the record comments by Prince Al-Faisal may have some repercussions. When I last checked, the USD Index was at 75.792. It will be interesting to see where it moves when the markets open on Monday morning. Watch the FOREX closely in coming weeks. I think that we can expect to see some deep drama.
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