Currencies All heading for Trouble

Its anyone’s opinion, but I am one who has been preparing for a precious metals run for several years. Depending on your view of this, you should consider having a percentage of your wealth in gold and silver. Prudent advice says 5% to 10% is the correct balance. I happen to be much more bullish than that and less trusting of fiat currencies.

For a recent lesson in currency devaluation look no further than Zimbabwe. In 1980, while still under White rule, a Zimbabwe $ was worth $1US. In 2009 $1 would buy you Z$2,621,984,228, 675,650,147,435,579,309,984,228.

Still underway is the devaluation of the Venezuelan currency, due to its communist rulers. The purchasing power of the Venezuelan currency in 1980 was 232 to the $US; it would require 12,515,733,113,673,804 units in 2020. Inflation was 54 million percent from 2016 to 2019. How do you get your head around those numbers?

You may assume that the mighty $US does not suffer from these third world deficiencies. However, in 1971 it took $35 to buy an ounce of gold, then Richard Nixon decoupled the $US from gold. An ounce of gold now will cost you $1,814 so the $US has lost 98% of its value.

When the $US crashes, it will take other currencies down with it, as they have to remain competitive. Meanwhile, gold should retain its purchasing power, as all fiat currencies decline.

Liberals amongst us will be complacent, but if the Democratic party gets into power, you are only a year or two from a communist government. The evidence that you are unable to comprehend now, will become a reality. Unfortunately, you will be too late, so welcome to the world of Stalin, and your subjugation as vassals of the state. You are fortunate in that the Gulag Archipelago is not likely to be your destiny.

Makes no difference in my life if you take action or not; this is just my tuppence worth of advice to you.

Here is one of many websites which will give you similar advice. https://www.bloomberg.com/news/articles/2020-07-20/record-gold-is-only-a-matter-of-time-as-bullish-factors-build?utm_medium=email&_hsmi=91651167&_hsenc=p2ANqtz–nVz1Sm75k1Hjwxt7c-L9H46Y5WyBHNz8P9_FV4qhGRJ8M5dnfpj5cPLQ1rRRKRD5wkECj_-9dD53PPoHL9N0lF4WJ_w&utm_content=91651167&utm_source=hs_email

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