The USA Watchdog observes:
"... In a recent report, economist John Williams of Shadowstats.com contends a declining U.S. currency is reflected in spiking gas prices. Williams’ said, “. . . the primary problem behind higher oil and gasoline prices is the Fed’s efforts at dollar debasement, but few in the media are willing to blame the Fed . . . Also hitting the dollar, though, are increasing instabilities in and ineffectiveness of political Washington, D.C., as viewed by the rest of the world.”
Williams says gold and silver are nowhere near their former inflation adjusted highs of 1980. Back then, gold hit $850 per ounce and silver $49.45 per ounce. To truly equal that price in today’s inflated money, gold would have to be “$8,331 per troy ounce” and silver would have to be priced at “$485 per troy ounce,” according to Williams’ recent calculations.
Rising precious metal prices are signaling impending doom for the U.S. dollar. Please keep in mind, $7 trillion is held outside the country by foreigners. A sudden sell-off could spell ruin in the form of high inflation (if not hyper-inflation) for most Americans. All the warning signs are flashing a coming currency crisis—the only question is when? I’m betting the crisis starts by the end of this year – 2011.
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Comment: I cannot imagine how to get out of the trap. What I can imagine, however, is a crash anytime soon, first of the bond market, then of the dollar, and then of the stock market. Global turbulence, massive reshifting of financial resources, currency crashes around the globe, a frenzy search for safe havens, social unrest, political upheavel, blood on the streets, hunger, starvation, and despair --- and all of this being brought about by one single source: the ruthless explosion of paper money fabricated by modern central banks.
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