Monday, September 28, 2009

Jim Rickard Nails it

Brilliant analysis here From Jim Rickard. this is about the only viable solution that I see to this economic nightmare.

A dollar devaluation is unavoidable at this point because we simply have dug ourselves too deep a hole. Get used to the term SDR(Special Drawing Rights). Here is a definition for those that are interested.

The IMF is being prepared to keep world trade stabilized via SDR's while we devalue our dollar by 50% in order to payoff debt.

IMO, Gold and other metals and commodities are a must hold as a hedge in preparation for this.

I can't embed this for some reason right now so here is the link:

2 comments:

getyourselfconnected said...

Jeff,
when he does the 8 cents part the look on the faces of the CNBC hosts was priceless!

Jeff said...

Get

I know.

Man times are tough out there. Really starting to see it now.

I can see it in my business. Only the strong will survive this economy.

Its a jungle out there.