GOLD: Something has to break

http://usawatchdog.com/dollar-alternative-anyone/

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Dollar Alternative Anyone?
29 FEBRUARY 2012 87 COMMENTS
By Greg Hunter’s USAWatchdog.com

Countries around the world have been actively seeking ways to not do business in dollars for the past few years. The U.S. dollar is the so-called world reserve currency, but the big question is for how long? China and Japan are beginning to shun the dollar in trade between the two countries. Mind you, this is the 2nd biggest economy in the world doing business without dollars with the 3rd biggest economy in the world. Russia and China, also, have an agreement to not use the dollar, and even India recently announced it would trade gold for oil with Iran. Additionally, the International Monetary Fund (IMF) has been calling for an alternative to the buck. The big push is not because the U.S. dollar is held in the highest regard but because it is losing its luster on the world stage. After all, the debt debacle facing America is worse than what the Greeks are facing according to a new report from U.S. Senator Jeff Sessions. (Click here to see for yourself.) Senator Sessions says every man, woman and child in the country is saddled with $44,000 in debt.

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So what is a poor retiree to do?

Your retirement savings get no interest. The stock market is dependent upon the inflation that the FED is pumping into it. And, that inflation has to come out somewhere — barf with the world rejecting the dollar as reserve currency or fart that inflation into the economy.

We have examples of hyperinflation in other countries. I lived through the Carter inflation of the 70′s.

Nickels, silver, and gold.

Seems obvious to me?

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One Response to GOLD: Something has to break

  1. Good one! But, don’t forget copper (as in pennies). It’s valued at the equivalent of 1.6 cents per penny minted.

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