“Does anyone reading this have a reason that this would not happen? I would rather believe it cannot happen, and I would welcome any holes in this idea that the USD will collapse.”
We all need to brace ourselves for the imminent implosion of the U.S. dollar. Period. End of story. I have been actively preparing for the past 2 years.
My broker — who worked for Morgan Stanley until they fired him in 2006 for steering his clients out of stocks and into precious metals, oil and natural resources — laid out with stunning accuracy 18 mos ago the EXACT sequence of events that we are witnessing now. It was all too horrific to believe at the time, and I resisted for a bit until the first of his predictions came true: he warned that the subprime crisis would erupt in mid-2007. He said that lenders would simply start “shutting off the money.” I didn’t fully appreciate what he meant at the time. Now I do. He begged me to sell my house and my duplex. I sold in Nov 2006 and March 2007. 2 mos later, the hell began. The house I sold is now appraised on Zillow for $250K less than I sold it for 1 year ago. The flipper who bought my duplex couldn’t sell it after 6 mos and gave up.
His other predictions:
He got me into gold at $550/oz and silver at $11/0z, and he told me gold would hit $1000 and silver would hit $20 within two years. After that? His prediction is that they would go “to the moon”, thousands of dollars per oz for gold and hundreds for silver.
He told me last spring that we would start seeing mornings when we wake up and routinely see the Dow diving 200+ points in a matter of hours.
He told me that banks would fail — a few at first — and then massive closures nationwide that would soon overwhelm FDIC.
He told me that ATM cards and credit cards would be summarily cut off as banks failed, so keep plenty of “interim” cash on hand. This will be useful until people finally begin to realize that the dollar is dead and ain’t coming back. Then metals, food and other “hard” items would become the REAL money.
He told me last spring that Freddie and Fannie were already insolvent and would be going down — HARD.
He told me that the country would experience hyperinflation, food scarcity and gas rationing (when the dollar finally dies, good luck getting gas into trucks to get food to stores, or getting any imported goods into this country, for that matter) that would lead to massive civil unrest and would eventually “require” the imposition of martial law — hence the various extensions of the Patriot Act and the sundry other Constitutional incursions witnessed for the past 7 years. It has nothing to do with terrorism and everything to do with an impending collapse. The looming day of reckoning has been anticipated by all but the oblivious American sheeple. He begged me to leave L.A. and set up base in a smaller community. He, himself, liquidated, sold everything he owned in Newport Beach and moved to Nashville.
I trust this man because he has steered me right so far and has been so eerily accurate. He has also increased my portfolio by 160% as the global markets have imploded. The future he paints is a grim one, indeed. As depressing as all of this may sound, imagine how depressing it would be to be blindsided by the inevitable. Forewarned is forearmed.
