Quote:
Originally Posted by banditfist
All fiat currencies in the history of mankind have failed eventually. The dollar will be no different. Take the $140 billion stimulus package. How can the government afford to do this? Either the Fed expands the money supply via inflation or we borrow it from the Chinese (which we then go to Walmart and buy cheap Chinese imports). The dollar is backed by nothing more than the good faith of the US government. Nothing more.
I would not recommend gold at this point. I bought some back in late summer at around $683. I sold it at $938. Gold does not have much of an industrial use like silver.
Gold is considered an inflation hedge. However, you really need to determine if we are in an inflationary environment or deflationary.
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yes, I really think your right and I do think it will happen within 3-5 years.
Of course, I hope I'm wrong, but no one really knows when it will happen.
I have to wonder if we will end up in a hyperinflation like Germany and the mark back in the day.
The stimulus package is a joke and will only hurt us.
I read some history on the Great Depression and many think it would not have been as bad had the govt. not been so involved.
The govt. is trying to prevent a recession right now, which is a natural thing that our economy needs to go through. In the process, the govt. is simply postponing the inevitable, and also making it worse in the end than it may have been.
I will also look into more silver and other precious metals (there is also palladium and platinum)...rather then just gold.
Do we foresee a complete breakdown in infrastructure when the dollar collapses? Meaning no electricity or running water?
God, I cant imagine if this were to happen. Complete lawlessness throughout the land...
If I'm going off the deep end feel free to administer an internet slap across the face to bring me back to reality
