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Inflation
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<blockquote data-quote="mrvngrdns" data-source="post: 332123" data-attributes="member: 7204"><p>I don't think many readers will realize it, but you nailed it right on the head. When Nixon abolished the gold standard in 1971, it enabled our country to print dollars to it's little heart's content. We have gone, in 30 years, from being the worlds largest creditor nation to the worlds largest debtor nation. And believe me, it will come home to roost....we were (and are) an extremely rich nation, so it's taken many years for our currency problems to come to a head....but it will, I don't know when, but it will. I believe around 49% of our Treasury Bonds are held by foreign nations, and when they start turning that around, inflation will really kick in, or perhaps hyper-inflation, which would make our Great Depression seem like a walk in the park. And all the while, the Fed keeps postponing the inevitable, printing dollars and applying band-aids. And they fudge the CPI. All I can say is, protect yourself the best you can, invest overseas, limit your exposure domestically. There is a shift in wealth happening, and we're not on the good end of it.</p></blockquote><p></p>
[QUOTE="mrvngrdns, post: 332123, member: 7204"] I don't think many readers will realize it, but you nailed it right on the head. When Nixon abolished the gold standard in 1971, it enabled our country to print dollars to it's little heart's content. We have gone, in 30 years, from being the worlds largest creditor nation to the worlds largest debtor nation. And believe me, it will come home to roost....we were (and are) an extremely rich nation, so it's taken many years for our currency problems to come to a head....but it will, I don't know when, but it will. I believe around 49% of our Treasury Bonds are held by foreign nations, and when they start turning that around, inflation will really kick in, or perhaps hyper-inflation, which would make our Great Depression seem like a walk in the park. And all the while, the Fed keeps postponing the inevitable, printing dollars and applying band-aids. And they fudge the CPI. All I can say is, protect yourself the best you can, invest overseas, limit your exposure domestically. There is a shift in wealth happening, and we're not on the good end of it. [/QUOTE]
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