When we speak of the decline or fail of the dollar, we are considering trends and risks. It’s not about doom and gloom. It’s about the risks a loss of confidence poses to our wealth and taking steps to hedge against that risk.
How much you move offshore and out of the system is up to you… I write this website to give you options and hope you will do what’s best for your family. As Rickards says:
“A lot of people are running around talking doom and gloom, the end of the dollar and all that. I might even agree with that, but I don’t think it has a lot of content.
What I try to do is provide a more in-depth analysis describing what will come next, what the future international monetary system will look like.
I point out that the international monetary system has already collapsed three times within the last 100 years—1914, 1939, and 1971—and that another collapse would not be at all unusual. But it’s not the end of the world. It’s just that the major powers sit down and reform the system. I talk about what that reformation will look like.”
And “what that reformation will look like” is the most important part of The Death of Money.
The key takeaway from this post is that trust in the system is the linchpin holding the it together. A collapses is simply the loss of confidence by citizens and banks in the future purchasing power of the dollar. When enough people lose trust, the dollar will collapse.
If the dollar does fail, what can you expect?
First, the government will come for your retirement accounts. This is their first best chance to shore up their social programs and delay a panic. Don’t expect to have any warning… just know that you’re one executive order away from having your IRA or 401-K converted in to U.S. Treasuries.
Second, a stock market panic, with banks and financial stocks being the hardest hit, is coming.
Third, you can be assured that inflation will spike and hedge investments like physical gold will increase several fold.
Here’s what you can do today to protect your wealth:
- Get your retirement account out of harms way before it’s to late
- Follow Warren Buffett’s lead and get out of paper money and in to hard assets
- Move some of your savings out of the United States
- Invest in what people can’t live without (farming, water, etc.)
- Diversify out of the dollar
- Gold stored outside of the US banking system is the best hedge against a systemic failure.
For more information on these investment classes, or to plant your flag abroad, please phone me at (619) 564-4062 or drop me a note at email@example.com.