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