Quote:
Originally Posted by gregpark
Yeah but this is world wide and not just the US dollar. And how can the dollar possibly stabilize with such an astronomically large accumulated debt? Printing up more dollars out of thin air has been our answer to solving our problem for years and it's a unsustainable solution. It's worked since the '70s but we've kicked that can to the end of the road. The human brain cannot comprehend what a trillion is. One million seconds in time is 11.565 days, one billion is 31.69 years, a trillion seconds amounts to over 31, 000 years...and we are 37 trillion dollars in debt! How can we possibly even come close to a sustainable balance? We can't. We've been F'n up too long and the whole world is losing faith in the all mighty dollar. No one wants to buy our T bills anymore and that spells the end to our reign. Gold and silver were the standard of wealth for 5,000 years before the last measly 80 years. Could we be going back? What else is there?
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If you like gold, buy gold. I still think the downside risk of gold is greater than the entire US economy, just like in 1980 but... I have been wrong before.