So the next crisis is going to be bigger than the Fed

[5.56NATO]

"So the next crisis is going to be bigger than the Fed. It is like they build a five foot sea wall and here comes a forty foot tsunami. There is only one clean balance sheet left in the world and that is the IMF. So the only way you are only going to reliquify the world in the next liquidity crisis is by the IMF printing their world money, these Special Drawing Rights or SDRs, and that is going to be the end of the dollar as a global reserve currency. Because if the IMF is going to print SDRs to reliquify the world they are going to need permission from China and Russia and other members of the IMF. The US has a big voice at the IMF but we do not control it. And so that really is going to be the end of the dollar right there. We may still have dollars -- in fact we will -- but it will be a local currency like the Mexican peso or Turkish lira. It will just be walking around money. But it will not be used for the important things in the international monetary system. This you can actually see coming. You can see these developments coming."


http://www.peakprosperity.com/podcas...sis-bigger-fed

I dunno what is going to happen but if the dollar loses its flavor I'd rather have food, guns, gold, anything other than fiat currency, stocks, bonds, paper.

[az_paul]

5.56NATO said: "I dunno what is going to happen but if the dollar loses its flavor I'd rather have food, guns, gold, anything other than fiat currency, stocks, bonds, paper."

Agreed 100%.

[Phil125]

China has every incentive to keep the dollar boosted. They loaned a ton of it to our government and we pretty much hold up their economy with their exports to us. If the dollar goes down they go down.

[5.56NATO]

China has every incentive to keep the dollar boosted. They loaned a ton of it to our government and we pretty much hold up their economy with their exports to us. If the dollar goes down they go down.

Here's the problem with that. They are buying gold like no one else. When they have enough they and Russia can sell their dollar holdings and tank the US economy overnite. They will actually make money on the deal since gold will then triple or more in price, maybe even way more. Why would they not?

[Altarboy]

I think if it gets bad enough I can buy some gold with some can goods.