Senior Obama Official Says "We Are Going To Kill The Dollar"

[HKaltwasser]

I didn't really know where to post this but this was the best place I could think of.

This is an interview with Kyle Bass, an investor.

Countries aroud the world are trying to get out of the dollar and making deals to trade in their own currencies or gold.

That brings us to:...How prepared are you in terms of alterate monetary possesions? Do you have have silver or gold as secure holdings?......Lead's not a bad option either

. I"ve been stacking for some time , not to make tons of money, but just to have a safe haven for some of my money. I'm talking physical silver or gold, not paper promises. Where or in what do you guys feel safe keeping your money in?

 

[Younggun]

That video is a joke.

 

[scap99]

Silver and gold can't be eaten...
Are you really gonna trade an ounce of gold for a meal if it gets bad?


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[breakingcontact]

This looks like it was filmed with a potato.

 

[Younggun]

Lol

Reminded me of those infomercials that pretend to be breaking news.

 

[Sapper740]

Yes, that was definitely an infomercial for a shill hawking precious metals in order to keep demand, and therefore prices, up. However, the OP does present a legitimate concern over the question of what is a safe haven for one's assets. Conventional wisdom, in the best of times is to divest your portfolio of stocks 10 years before you retire and place your money elsewhere. In a "worst of times" scenario of which we may see in varying degrees, where does one keep his money? There are many probable scenarios: continuing recession, inflation, and higher taxes and fees on services to the improbable (but still possible) such as an EMP or complete collapse of the dollar. I believe a mix of assets is the best bet to hedge against any or all possibilities of which precious metals is but one.

 

[ROGER4314]

I couldn't open the flick but have some concerns from the posts that I've read. They are murdering the Dollar. I have some Dollars stashed and every day, they are worth less. Precious metals? As long as people are BUYING metals, the price will remain high. When demand drops, so will the price of gold/silver. That's how the metal markets work.

The tale of the two Hunt brothers show exactly how the metal markets work. They kept buying silver to elevate the market price as an attempt to corner the silver market. In the end, they lost a fortune and ended up with Federal criminal charges. Research it. The price of gold and silver is not static. It can drop like a bomb and those left holding, lose.

Flash

 

[Younggun]

Invest in ammo. The worse things get, the higher it's value will go.

 

[Shotgun Jeremy]

+1

 

[scap99]

Invest in ammo. The worse things get, the higher it's value will go.

Where's the like button????

NATO rounds would make great common currency, as more obscure ammo may not have much marketability.

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[Sapper740]

Invest in ammo. The worse things get, the higher it's value will go.

Exactly. And land, food, water, medicine, cigarettes, alcohol, etc. Can you imagine what one could barter for with a cigarette in a true SHTF scenario?