Consider the present situation:
- the world is investing aggressively in the US Dollar and
- we have been printing US$ as fast as possible to keep up with the demand.
- Personal Credit has tightened its hold on all those still in the middle class, while
- the Big Banks are getting their money at almost zero interest.
Now ask yourself why this has been allowed to happen by the Fed and Congress?
Now consider this future scenario:
- The Central & Big Banks orchestrate the collapse in value of the US$, but not before they scoop up all the available Gold and other precious metals (PMs) they can accumulate to limit their own losses.
- The Central Banks now have much more precious metals – all bought at bargain prices – as compared to 6 months ago and, if people then demand a gold standard they are ready to comply, since they now have huge amounts of gold in their vaults!
- The Big Banks…would only be too happy to devaluate the paper US Dollar’s value (say 100 old US$ = 1 new US$ (USN$) since they would be paying back all US debts with USN$ pennies instead of US$.
- Imagine the Fed and Big Banks a hundred times more powerful than they are today!
BTW: If you think conversion from US$ to USN$ would take long enough to give you some warning – so you could also convert your money to PMs – think again. I predict that if such an event were to occur that:
- USN$ would be implemented over a Sunday evening followed by a Bank closed Monday and Tuesday if necessary, with electronic conversion “cash” credits being used until all physical cash conversions were verified as factual.
- Agents of the Treasury, working with DHS and local law enforcement to maintain order, would then determine on a case by case basis – by looking in every safety deposit box – that everyone’s stash of cash and/or PMs are not the result of ill- gotten gains and have been both taxed and/or accounted for in previous tax statements.
Could this be what our fiscal future might look like?
The comments above are edited ([ ]) and abridged (…) excerpts from an article by “Senior D”
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