Read this article. I've provided the link at the bottom. The final sentence of my excerpt, "US citizens have it the worst of anyone" is essential to understand.
April 16, 2012
Getting Your Gold Out of Dodge
by Jeff Berwick
The Dollar Vigilante
If there has been a more dangerous time for your wealth in human history we are unaware of it. There have been individual or even entire nations of people who have been wiped out in the past but never before has there been such risk to assets across the entire globe.
In the past, a few savvy Zimbabweans have converted their Zimbabwe dollars into US dollars to sidestep the complete annihilation of their currency and savings. Or residents of the Weimar Republic were able to salvage their wealth and savings by stepping across the border and converting their marks into francs.
But what happens when the US dollar, the world's reserve currency, and with it all fiat currencies collapse? It's not an if, it's a when. Anyone who has done even a modicum of research into the financial state of affairs of the western nation states knows that it is not only inevitable but imminent. And those who have studied the history of currencies, specifically fiat currencies, knows that they all eventually reach their intrinsic value and rarely ever last more than forty years – an anniversary that passed on August 15, 2011 which marked forty years since the Nixon shock when the US Government was bankrupted by the Vietnam war and the gold backing was taken away from the dollar.
EVEN THE MAESTRO KNOWS
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation" ~ Alan Greenspan
Only a relative few people have figured this out and have moved a significant portion of their savings and wealth into precious metals to avoid this confiscation for the last decade.
The proof of the effectiveness of gold versus fiat currencies in this final stage of currency collapse is in the proverbial pudding:
In the past you could flee to other jurisdictions when the local currency was in collapse. But now there is no where to run. And to make matters worse almost every western nation state is colluding with the other states to limit your ability to escape.
US citizens have it the worst of anyone.
More: http://lewrockwell.com/berwick/berwick43.1.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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