I hate to bring this up, but many of you just lost about 3% of your net worth in the past few days due to the declining value of the US dollar. And it’s likely to get much worse. Clive Maund’s “Death Knell of the US Dollar…” provides some of the cheery news of the season that we need as we get out our credit cards for the upcoming pagan holiday season, where Mammon and Lucre are the objects of worship. Hey, if you’re going to worship an idol, at least choose one that maintains some value as the dollar declines – or that could greatly increase in value. Silver is still incredibly cheap. Just a word to the wise (and to the rationally greedy).
Meanwhile, get out of debt. Get food storage. Live providently. Save and invest wisely. The insane spending and printing of bogus fiat dollars in the past couple of decades is bringing this nation to an untenable state. When a few major parts of the world abandon the US dollar in favor or euros or precious metals, the dollar will plummet and the Fed will face strong pressures to ramp up interest rates to extremely high levels to maintain foreign interest in US treasuries – and that will only amplify the pain in the economy. We are facing troubled times. Living in debt will only make the pain much worse for you and your family.