Quote:
Originally Posted by competentone
What we had in October will be nothing when compared against the collapse of the dollar that is coming. (What the government has done in October is bringing on the dollar's collapse even faster.)
When the government cannot sell anymore of our debt to foreigners (which is what will happen when the dollar collapses), they will have no choice but to "print" money to cover the deficit.
The inflation will be horrendous when this happens.
Large sections of our "middle class" will be wiped out during the coming currency collapse.
Got gold?
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I do definitely think inflation is coming and the intereste rates are going to explode in the next 1-3 years... We are printing money like mad right now to "pay for" the war in Iraq. Every reason to believe we're printing more to cover the $700B bailout and although nobody talks about it openly, I wouldn't doubt for one second that we're printing to deliberately inflate the currency in order to "stop" the slide of housing prices (hey, if a house $400k five years ago is only worth $200k today we'll just print twice as much money so it's worth $400k again, right?) Yes, I really do think it works this way and yes I do think it'll eventually come back and bite us on the arse. Perhaps sooner than people think.
Gold? Bah. Worthless metal unless you're a dentist. Better - I've got ammo. Lots of it.