All Ponzi schemes come to an end. It looks like the Chinese backed currency will be part of the special drawing rights as of October first. It the Arabs want their oil priced in Renmembis, we are toast.
It looks like the insiders are buying gold. That must tell us something.
But, I don't have much left after my problem with the IRS. So, I am not buying gold. Remember, the US confiscated everyone's gold in the past. They will do it again.
The governments of the world can produce all the paper money they want, but they cannot print jars of peanut butter. I am trusting with groceries. I want to have enough on hand to out last a bank holiday. Germany's Merkel just told the German people that they should have about fifteen days of supplies on hand in their homes.
I fear the day that the government cannot or will not fund those EBT cards. In June, there was a problem with their programming. It just about produced a war. Those people will not be denied.
While the price of imported items will sky rocket, I think US produced products will be affordable.
On the upside, I live in Arizona, and the country side is littered with gold mines that were shut down by the US government at the start of WWII. Those mines may re open. Also, our petroleum industry may be resurrected.
We can only hope and pray.