Get Ready For The Demise Of The U.S. Dollar (eventually)

This is a must-watch video from the National Inflation Association.  For quite some time I have been offering up the view that China is going to eventually roll out a gold/silver-backed currency that will replace the dollar as the global reserve currency.  I think people must think that I'm nuts (maybe I am, to an extent lol).  But here's another analyst who sees it the same way as I:



Ultimately, I believe that once China has accumulated enough gold and silver, they will roll out a new currency backed by their bullion reserves.  At the same time, they will have to concomitantly revalue the price of gold and silver both upward by a substantial amount in order to give gold/silver the value that would back the representative paper currency issued against that bullion AND to imbue a great enough value to back the amount of currency that will have to be issued in order to create efficient "fungibility" for the size of the global economy. This is where those who are accumulating bullion now will put themselves in a superior wealth position relative to everyone who disbelieves the true nature of gold and silver (even though 90% of 5000 years of human history is the relevant data point to understand the wealth-nature of gold/silver).

I was in a meeting a couple weeks ago with a potential client and I offered up this view of the "end game."  He understands the need to start accumulating gold/silver and the value of also investing in mining stocks to make a "leveraged" play on the metals.  But he really didn't think the dollar would be displaced.  That right there is the psychological power and danger of patriotism.

"Dissent is the highest form of patriotism" - Thomas Jefferson

“Patriotism in its simplest, clearest and most indubitable signification is nothing else but a means of obtaining for the rulers their ambitions and covetous desires, and for the ruled the abdication of human dignity, reason, conscience, and a slavish enthrallment to those in power.” Leo Toystoy