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What event could trigger an unstoppable domino affect leading to a financial meltdown? You may think [that such a possibility is extremly unlikely] but daily we move closer to the real possibility that a major fiat currency such as the US Dollar or the Euro could collapse in the blink of an eye. [Let’s take a look at why and how such an event could unfold.] Words: 499
So says the editor of www.goldcoin.org in an article* which Lorimer Wilson, editor of www.munKNEE.com, has reformatted and edited […] further for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement. The article goes on to say:
Mounting economic pressures mean that eventually something will have to give. [Take a look at what is happening:]
- Inflation is rising
- Oil prices are rising
- Debt is unresolved
- Property prices are falling
- Unemployment is rising
- The cost of living is rising
- Wages are stagnating
- Raw material costs are almost out of control
- Energy costs are rising
- Growth is negligible (and most estimates are over-egged by floundering politicians)
- North Africa and the Middle East are unstable.
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What will happen next? What will be the net effect of all these things stirred up with a huge dose of uncertainty? It’s like a tinderbox to start a Financial Armageddon. Just one single event could trigger an unstoppable domino effect that would lead to a financial meltdown. [If you] don’t believe me [then consider the following:]
- What if Greece cannot keep to the rescue plan imposed on it? What if it defaults? Will a whole country go broke – and then what?
- What if the Eurozone feels the knock-on effect?
- What if another bigger Eurozone country requires a bailout?
- What if the US dollar, as a benchmark for the world, for oil prices, trade, banking, etc. and the most important currency on the planet as we know it, were to collapse? Is it even conceivable?
Take a look at [this video (9:02 minutes)] and decide for yourself. Impossible? Possible? Probable? Highly likely?
Conclusion
This is a timely reminder to the fragility of wealth stored in currency or as a paper promise reliant on the success and existence of a large institution. Wealth needs protection for survival and the acquisition of valuable physical assets that can survive a crisis is the only way.
No wonder Central banks and the biggest fortunes on the planet are stocking up on Gold!
*http://goldcoin.org/gold/financial-armageddon-from-worthless-paper-money/1385/
Editor’s Note:
- The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.
- Permission to reprint in whole or in part is gladly granted, provided full credit is given as per paragraph 2 above.
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