The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners.
"We don't have resources. Neither does a lot of Asia to be quite frank," Vickers said on CNBC's Asia Squawk Box. "Countries that have resources -- the Brazils, the Canadas, Australia -- their currencies are doing well."
Vickers noted that their stock markets have done the best year-to-date.
"They have stuff. They've got resources. They export real things. The United States exports 'promises' and 'pretty paper'," he added.
Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis.
"If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that," he said.
Vickers added that this is the time where investors should be making money when the trend is developing.
"Oil looks higher, gold looks higher, currencies look weaker."
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Prepare for the Great Depression.
Survival Seeds
I already am a multi-Trillionaire do to my ownership of many Zimbabwe notes. I will look forward to being a US-trillionaire and using stacks of cash for kindling.
ReplyDeleteIts coming in the next 3-4 years.
Simple Americans will at last see the big dollar bills that were only formally seen by a privileged few banksters in high finance.
ReplyDeleteThe $1,000 dollar bill, the $10,000 dollar bill, the $100,000, and the $1,000,000 dollar bill will be commonplace in many people's pockets in the coming years.
They won't be worth much however, but it will seem like all Americans will finally get their wish with much sought after Federal Reserve Notes..
Get ready for your dream come true. However it won't be exactly the same as the dream because in reality the million dollar bill will barely only buy you a piece of chewing gun.
Barely..
Its true that the US may be short on resources,but only 60 yrs ago , the US lead the world out of depression through an astounding manufacturing base, albeit after a war.Has this legacy been totally squandered or is it possible to ressurect some semblance of it .
ReplyDeleteMonkey see, monkey do, “The dollar will be destroyed”. Now we all buy gold and silver while waiting for us (U.S) to become like Zimbab(we).
ReplyDeleteHow stupid is that. Zimbabwe is a stupid backward country in Africa. We are a highly developed nation with superb intellectual assets. Super technologies of all kind. Great natural resources. Moreover we have an outrages patriotic population believing in the American experiment, its founding fathers and the very best constitution ever conceived.
If the USA were a company would you want to own it’s stock (the dollar)??? (Cheap today for foreigners)
The USA is a great investment because we have a track record to show for. All other “successful” nations followed this track and became what they are today.
The future will continue to follow this track all we need to change is put some banksters, Wall Street pirates, corrupt politicians and free loaders in jail.
I went to law school with Damon Vickers. Glad to see he's doing well and is on top of things.
ReplyDeleteThe US used to be the largest producer of oil, which happened to be when the country boomed in production and expansion. The US peaked in oil almost 40 years ago now. We continue to have lots of resources, like food, but we are not the powerhouse we used to be in manufacturing and production(which was in large part thanks to more abundant oil and infrastructure not shipped overseas).
ReplyDeleteDoes anybody know what the hell "the Canadas" is?
ReplyDeleteAnswer - it has been squandered. We have been emptied out. Done. By design.
ReplyDeleteThere was hope then because the banksters destroyed the economy but left the manufacturing and infrastructure intact.
Now there is no foundation at all. Just thin air. Long way down, no way to climb out.
2:05 How wrong you are! Zimbabwe WAS the most intelligent advanced country in ALL of Africa. It went down the same reason why ALL advanced nations go down. Fraud and Greed. Now start reading before you write such statements, thats embarrassing.
ReplyDeleteThe US has more resources than any country on Earth. We have more oil that Saudi Arabia, more natural gas than anyone, the most coal in the world. The problem is the government won't use it. Since we don't use our energy and resources, we don't produce. We're killing ourselves through government control.
ReplyDeleteRead about Zimbabwe
ReplyDeletehttp://en.wikipedia.org/wiki/Zimbabwe
Zimbabwe was no backward hole. Neither was Argentina or Iceland.
ReplyDeleteThe EXACT SAME players that wrecked Argentina earlier this decade and now working toward landing the biggest fish of all - the USA.
When I say exact same players that is absolutely true. Same bankers, same people. It is just taking longer with us because of size and we are have the reserve currency status. That will soon change though.
The dollar will be just worthless junk. Monopoly money because in reality that is all it is now.
This is starting to look realy bad,could use some advice.I wuld like to buy some silver and was wondering what type of silver,coin or bars and good place on the net to buy.Thx
ReplyDeleteFrodus, buy some older 90% "junk" silver, the pre 1965 stuff, dimes, halves, etc and also some silver eagles, silver maples, yes you can get some bars, but stay away from anything over 10 ounces if you intend on using them for barter, etc. Older Morgan and Peace silver dollars will be a big hit also. I would try Apmex, Tulving, Kitco.....NOT FLEEBAY!!! Too much risk of the fake stuff is getting to be a problem, only buy from reputable places. There are others as well, just google
ReplyDeleteBut PLEASE, get some preps in place also, extra food, water, if you can some meds, whatever......salt, flour, sugar..will all come in handy.
The government does NOT control all our resources. We do NOT have more oil than Saudi Arabia. You need to inform yourself. Stick to the facts. If you can prove your assertions than do so, otherwise you are speaking out ya ass.
ReplyDeleteAs for coal, that too will eventually run low. There are some experts that say it could be only another 20 yrs before we start to see decreasing supplies.
It's real simple: the natural earth has its limitations. Respect them and mother earth will respect you.
Frodus, try these:
ReplyDeletewww.gainesvillecoins.com
www.apmex.com
www.perthmint.com.au
There are many more. You want 1 ounce gold coins. I prefer 999 purity ones like Canadian Maples, American Buffalos or Australian Kangaroos. Silver is trickier - the markup on silver due to minting is much larger than for gold. Consider silver ingots after you have some 999 1 ounce silver coins, or get some of the giant perth mint 10 ounce or kilo coins.
Ingots: smaller markup, harder to sell, easier to fake.
Coins: large markup, easier to sell, hard to fake.
Personally I don't like junk silver, too much math to calculate their worth with regard to the spot price. Get pure 999 bullion, preferably measured in ounces.
Buy from www.coloradogold.com
ReplyDeleteCompletely private transaction. NO paper trail.
I am not being paid for this recommendation. I am just a customer of theirs.
to 8:34
ReplyDeleteA new report by Congressional Research Service (Google it) that the US hs 1,321 billion barrels of oil with Russia second with 1,248 billion BOE. Alaska's Chukchi sea covers 1,600 trillion cubic feet of natural gas (30% of the world's supply) and 83 billion barrels of oil. The same report also notes we have 28% of the world's coal reserves with Russia coming in second at 19%.
The government (democrats) have blocked 100% of the coal permits the last year. They have closed 79 mines. Democrats in Congress repeatedly block getting gas out of a small slice of ANWR, even though it's completely safe. Democrats in coastal states repeatedly block offshore drilling. The DOE has refused to allow companies to drill in the high plains, where there is 100 billion barrels of oil. It's through permits and the legislative process the government blocks use of our energy reserves and natural resources.
That is real interesting considering most experts place the figure of TOTAL WORLD PROVEN OIL RESERVES at roughly 1,200 billion barrels.
ReplyDeleteIf you look at wikipedia there is a list of countries by amount of proven reserves: http://en.wikipedia.org/wiki/Oil_reserves
On that list you will see the United States at number 12 and Saudia Arabia at number 1.
It is common knowledge all over the world and througout all sectors that the US peaked in oil in the 70's and has steadily been running lower on oil.
ANWAR, if fully utilized today, would only last several months before motorists here in the US fully tapped its supply.
You my friend are living in a dreamworld. I recommend you not to let wishful thinking and predetermined notions cloud your reality.
6.24
ReplyDeleteYou are exactely correct.
It looks like civil war is on the cards
for the U.S.A in the very near future.
To 4:25
ReplyDeleteHere is a link to the report produced by the Congressional Research Service, the research arm of Congress: http://assets.opencrs.com/rpts/RS22928_20080806.pdf
which substantiates my claims.
Wikipedia, while great for entertainment, is not a reliable source for many things in the political agenda- just look at the section on Global Warming to see how wrong it can be. However, the Congressional Research Service is apolitical and reports to both parties to help establish a basis for legislation.
The US has plenty of energy. The government is blocking its use to support the environmental agenda. It's really too bad, because it's something that could save us.
Many people here talk about SHTF scenarios, but never ponder- what next?
What next is when someone (most likely China) comes and takes our resources and uses them when we won't.
Asserting that wikipedia is not a reliable source does not invalidate the information I gave you. It is available all over the internet. You don't know what you are talking about but you keep saying the same thing: the US has plenty of energy but the government is blocking it. Prove it! You are simply incorrect. What your report shows is that the US has well under 100 billion barrels of oil. Your conspiracy theory fails to cut the mustard before the bread even came out of the oven because you can't even point to the right facts.
ReplyDeleteKey oil figures were distorted by US pressure, says whistleblower
ReplyDeleteby Terry Macalister
The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying.
The senior official claims the US has played an influential role in encouraging the watchdog to underplay the rate of decline from existing oil fields while overplaying the chances of finding new reserves.
The allegations raise serious questions about the accuracy of the organisation's latest World Energy Outlook on oil demand and supply to be published tomorrow – which is used by the British and many other governments to help guide their wider energy and climate change policies.
see more here:
http://www.guardian.co.uk/environment/2009/nov/09/peak-oil-international-energy-agency
I would like to thank you guys for the help,I'm going to buy up as much silver and small gold coins as i can.I'm aware than 95% of all the silver has been removed from the ground and with china opening up silver purchases to the public silver has no where to go but up.But let me add that to compare the US dollar and other currency's that have fail in the past like Zimbabwe is not a valid comparison,mostly because Zimbabwe was not a global currency like the dollar.But that being said i truly believe that the US will be forced to default on their obligations simply because foreign govs will not be in the position to buy the US debt with clear understanding that the US gov is out of control spending and compounding Debt.Thx again for the site's guys.
ReplyDelete