America’s Ugly Money Secrets Revealed… 2 Colossal Failures Point to a Dark and Disturbing Future… Is the U.S. Dollar Next in Line for the Dustbin of History?
From the moment a new fiat currency is created, the countdown to its death begins. This is because fiat currencies are usually manipulated until they are no longer worth anything. Eventually, all fiat currencies go to zero.
History is littered with the worthless paper of dead currencies. At least 590 different currencies have died in recent history – the majority of which have died within the last 150 years.
The two most common reasons for the death of currencies: hyperinflation and war. Of course, to pay for the costs of war, governments inflate the currency into oblivion. So even “war” is synonymous with “hyperinflation.”
America Is No Stranger to Failed Currencies
FACT: At least two currencies have already died right here in America.
The first, of course, was the Continental currency. This was a paper currency created to help fund the Revolutionary War. Continentals lasted only 6 years. Too many were printed and they quickly became worthless.
In the wake of this economic destruction, two things happened: (1) “Not worth a Continental” became a popular saying, and (2) The founding fathers included the gold and silver clause in the Constitution of the United States to prevent future currency failures.
Unfortunately, this clause did not stop politicians from creating fiat currencies anyway. When President Lincoln needed money to pay for the Civil War, he fired up the presses and started printing “greenbacks.”
From the moment the greenbacks were printed in 1862, they began to lose value. Just two years later, gold had risen by 158% – more than two and half times – compared to the greenback.
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Continentals, Greenbacks… Now Dollars?
Have we learned anything from history? Hardly. Since 1971 when Nixon abandoned the gold standard, the U.S. has been playing dice with TRILLIONS of dollars in unbacked paper currency. And the stakes are higher than they’ve ever been before.
Yes, the current iteration of the dollar has lasted longer than its predecessors. But how much longer can it really last? Consider these frightening facts:
- The top 5 “too big to fail” banks in the U.S. collectively hold $279 trillion in risky derivatives, which could implode at any time. For perspective, the U.S. national debt is “only” $18 trillion. If the derivatives bubble pops (as it must), it will trigger a sudden and cataclysmic financial collapse.
- Recently, the dollar has been rising in value compared to other currencies. On the surface, this might sound like positive news. But the last time the dollar had a big run-up against other currencies, it was mid-2008. The biggest recession since 1929 followed.
- The Federal Reserve is now stuck between a rock and a hard place. They can’t raise interest rates without collapsing the economy. Their only possible course of action: Keep QE turned on until dollars become worthless. Either way, it will lead to economic collapse. Peter Schiff says, “The real move of the dollar is going to be a crash.”
No matter what metric you use, the U.S. dollar – and, by extension, the U.S. economy – is headed for unprecedented economic challenges. And do you really want to be caught holding the bag when the jig is up?
Look: Whenever there is financial uncertainty, it’s good to be holding gold. The early American colonists knew this. That’s why the Constitution prohibited the states from issuing bills of credit (notes) or making “any Thing but gold and silver Coin a Tender in Payment of Debts.”
The dollar’s days are numbered. Act NOW to protect your wealth.
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