Thursday, October 15, 2009

If the dollar does collapse how well prepared are you?

I came across this article when I was over at Steve Quayle's web page.  I have attached the links.  I work with Third Country Nationals (TCN's) from India, Kenya, etc... and they tell me horror stories of how they are abused by thier "Leaders"...economically, phyically, and mentally.  Some have asked me whether or not the US people will continue to let the US fall from grace.  Economic collapse has happened recently to Argentina and they were a fast boombing economy. Nevertheless, if you can leave out the political stuff (as I normally do) this story may influence you to go out and acquire some more tangible goods....I know I can't afford gold or silver, but I will instruct my brother to buy me some seeds, toilet paper, and water filters for the house.

1. Inflation will skyrocket. If you are in the market for new clothing, expect the price for common, ordinary garments to quadruple overnight. Food, even the basic staples, will become so expensive that the largest percentage of what we spend out of our paychecks will be used just to stay alive. The poorest among us will have trouble merely surviving.

2. Paper money will be basically worthless. That means those dollars we use to purchase goods and services will have absolutely no real value any longer. The dollar, at that point, will have been so thoroughly devalued that it will be worth only the paper its printed on. Unless you have invested heavily in gold and other precious medals, you will be big trouble.

3. Gold and precious medals, which have intrinsic value of their own, will become vastly important. At present, the price of gold has skyrocketed to over $1000 per ounce. This means that a gold coin that at one time carried a value of $20 will now be worth over $1000. Those who have bought these gold coins and bricks as a hedge against inflation will be in a good position to weather the coming storm. Those who have not will be at the mercy of the coming economic storm where goods and services will quadruple in costs and where their paper money will be basically worthless.

4. Starvation will become common. Homelessness will overwhelm American society. Businesses will go under. Joblessness will sweep over the nation, setting us on a course to either match or outmatch the unemployment numbers of the Great Depression.

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