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endthefed76 • 8 hours ago
If the FED raises rates (haha), debts will fail, followed by banks. Then the next round of counterfeiting begins. The dollar was 70% of world trades before the FED began bubble blowing after the 2000 tech top. They will eventually trigger a dollar confidence crisis(already have in some countries). Buying gold, or other hard assets, on the way down is more important now than in the mid 1970’s when it fell 50%. When we exit the other side of this Debt Destruction Black Hole, the dollar will be like the Mexican Peso was in the 80’s. It may even go the way of the Confederate Dollar. If the debt company(bank) isn’t paying you anything for your risk(deposit), why lend them anything? They’ve already made rules saying that you, as depositor, are an unsecured creditor! This is about ultimate savings survival. Better to have something (land, metal, any real asset) than a promise from a bank that you will be wiped out as an unsecured creditor. FDIC? Well, by the time they get around to paying you back, how far will hard assets have soared in the resulting confidence crisis? Perhaps, 10% gold will make up for all the rest, which would just put you back to even. IMO, gold is ‘on sale’ and has been for a few years. For gold to go down, and stay down, would imply the national debt is actually being paid down. That ain’t happening!