“The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the VALUE OF EVERYTHING PRODUCED in the country last year.”
- Bloomberg
Again - that’s $12.8 TRILLION – in only a half year’s time.
So, where are we headed? How about $25 trillion - perhaps that amount will solve the crisis?
Unfortunately the worldwide problem of debt cannot be solved by creating more debt.
Meanwhile last week The G20 met in London. The political leaders from the 20 major nations blasted images and press releases across the globe assuring everyone that they and their central banks have answers for the crisis they helped create.
Any documented proposals to a solution?
No, just more money pledged for the IMF ($750 billion additional) and a picture of 20 politicians with a globe behind them.
Look and you will find vague promises of joint action while on the sidelines countries are covertly making plans to assure that they are not left holding the dollar bag.
"The People's Bank of China has agreed to provide 650 billion Yuan ($95 billion) to Argentina, Belarus, Hong Kong, Indonesia, Malaysia, and South Korea through so-called currency swaps. More such arrangements are being planned so importers can avoid paying for Chinese goods with dollars, the central bank said."
- Bloomberg
Countries are looking for less exposure to the dollar. The above nations are publicly taking the necessary steps to insure their wealth against a very possible dollar collapse.
This makes us wonder, are there other countries doing this behind the scenes as well?
Who else doesn’t want to be left holding greenbacks when the dollar crumbles?
Well ---> WE DON’T!
Here at GoldSilver.com every dollar we make is converted into precious metals. We refuse to allow bailouts, The G20, or debased currencies to dilute our wealth.
It used to be that governments backed their currency by gold and/or silver. This gave the currency real legitimacy as it could be exchanged for something of true scarcity (it was a TRUE store of value). Governments and central banks consequently could not be print their currencies into extinction.
Well, the U.S.A. cut its final link to gold in 1971 and no other currency is backed by anything tangible either.
All are paper.
This has been tried many times before by governments around the world throughout history and it has ALWAYS led to the same disastrous result for the currency.
There however is a very bright side and an opportunity for those who understand what is going on today and take the appropriate actions.
We hope to lead by example and we encourage everyone to become YOUR OWN CENTRAL BANK and hold true wealth during this crisis period.
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