Dollar Collapse coming
It seems like congressman Ron Paul is blowing his horn once again. This time he is saying ( Ron Paul says the US Dollar is in a giant bubble and about to collapse.) Yikes, what kind of implications would this have around the world. Chaos for one.
Think about what might happen if the U.S. dollar were to start cracking. First of all investors around the world including giant corporations and banks have a lot of their assets in dollars. Any trouble concerning the value of the dollar would cause utter and complete disaster. Where would they put their money. I don’t believe the wealth of the world would flow into Bitcoin. It is just too uncertain and unstable. A collapse in the dollar would most likely end up being great news for American goods. After all if you could buy a Chevy in Canadian money for half the price it is now that would be great for Canadians.
Gold and Silver not Bitcoin
This could be the reason banks around the world are buying Gold. If the dollar were to get into trouble the price of gold would stabilize any losses. Banks are not dumb! They have been buying Gold for some time now and I suspect it is because of what people like respected congressman Ron Paul are saying. The dollar is in a bubble, look out below.
Alternatives to the Dollar
Right now there is really no alternative to the dollar. I don’t expect banks around the world to flock into Bitcoin. There really isn’t anywhere to run except into Gold and Silver for that matter. High quality stocks like Coca Cola for example might be a good place to run. Thing is though when you go to cash these stocks in what are you going to get. Well a truck load of crashed American dollars I suspect. I guess you could ask to cash in on bottles of coke.
Crazy isn’t it, the thought of a dollar collapse. It would be back to the dark ages. Protect yourself and get some insurance in precious metals. Better yet start selling some precious metals. There is a new company coming on stream called QuickSilver where you can buy, sell and save in beautiful silver coins. Might be wise to grab some before the dollar bombs.