Home Precious Metals

The FED's final tool. . .

derrybderryb Posts: 30,375 ✭✭✭✭✭
edited November 14, 2020 12:19PM in Precious Metals

. . . is the only one that will work against deflation, inflate away the debt burden, and stimulate nominal growth. The best part - it will put the gold price at $15,000! The bad news - it will devalue the dollar by 85%.

Can't/won't be done?:

"The only reliable way to break the back of deflation (and, no, money printing does not work) is to devalue the dollar against gold. This was done in 1933 and 1971, and it worked to create inflation both times. An 85% devaluation of the dollar (about the devaluation achieved in the 1970s) will inflate away the debt burden, stimulate nominal growth and result in a gold price of $15,000 per ounce."

For all we know, the massive dollar creation in the past 12 months may very well be the beginning of a planned dollar devaluation.

The Bogus Case Against Gold, probably Jim Rickard's most important work to date.

Message me on how to get $40 free while earning 1% cashback on ebay purchases. Offer expires Dec. 25.

Comments

  • rickoricko Posts: 77,889 ✭✭✭✭✭

    Now that would be an unimaginable situation.... I just think that is one of the least likely scenarios... Somehow I believe the eventual financial overhaul will be far more conservative. JMO Cheers, RickO

  • derrybderryb Posts: 30,375 ✭✭✭✭✭

    Is not a slow devaluation, such has been taking place for over 100 years, considered "conservative?"

    Message me on how to get $40 free while earning 1% cashback on ebay purchases. Offer expires Dec. 25.

Sign In or Register to comment.