17 Comments

Tom Luongo at GGG has a new podcast up on this topic. His take along w his cohost Dexter White is that a collapse of the dollar is unlikely. A continuing decline in its use to somewhere around 40% of reserve ststus along w an emerging basket of other currencies is the future. This will still hurt and may trigger hyperinflation but absent some cataclysmic event or the emergence of a clearly superior currency and bond market, people looking for a place to park cash will still look to the dollar and US bonds, at least for the next x years.

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Invest in platinum or palladium. See Zerohedge.

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"Germany pays for gas in euros to Gazprombank - which converts them to rubles. So Gazprombank cannot - and won't - be sanctioned." Don't any of these Europeans remember that the Russians are pretty good chess players?

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Mike Tyson famously said, "Everybody has a plan until they get punched in the face." Tyson assumed that nobody would be stupid enough to step into the ring without at least having thought through how things might proceed.

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"The enemy gets a vote". I read that somewhere. Another thing that comes to mind is the financial hole we've dug ourselves in these past 40 years. 30 trillion in debt, 200+ trillion in promises to people (Social Security, etc). The old economic might we used to rely on to deter others is hard now that China produces 50+ % of what we use. We're in quite a box.

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What was Plan A? Could someone explain it to me in terms that make sense.

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