For those of you who have read this blog from the start, I have been writing about hyperinflation since 2007. I was a strong advocate of buying Gold and those who have followed my advice have made a killing.
If you look at the recent rise in the stock market, huge gold price increase and huge drop in the dollar....You have to wonder if this worst case scenario beginning to occur....A dollar collapse.
America is Greece. The only reason why we are not having the same crisis is because we are the worlds reserve currency and we can simply print more money, and monetize more debt. Greece did not have that luxury.
I actually sold my Gold around July and I am now regretting it seeing what is going on right now. My feelings were that when the conservatives won the mid term elections it would bring about an era of fiscal responsibility and a stabilization of the US Dollar.
The question is...Is it already too late? Have we already spent and taxed so much that our prosperity as a nation is now irreversibly in peril.
What do you think?
Monday, October 18, 2010
Posted by Chris at 6:30 AM