posted on
Feb 24, 2010 12:43PM
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Message: US Dollar
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Its final resting place: fish wrap and a$$ wipe! (not my oppinion, but an oppinion shared by many others) A la Russian Ruble (1919) and the German Mark (1923) of earlier times! Fiat currancy tends to have a limited shelf life as unmitigated government greed undermines its viability.
A sidelight: Odessa was the world's leading wheat exporting port 1919. Not a bushel has been shipped from there since! Go figure (the farmers all left for Canada and other points!)
Since 1913, the $US has lost 99% of its spending power against gold! 40% of that in the last 30 years.
And the beat goes on! (a "bad-beat" at that!)
PS: Most principals of Golden Pockets had family who expieriencd devaluation and revolution. Their forefathers relocated to Manitoba after losing their farms at gunpoint as a result of the Russian Revolution where they expierienced the devaluation of the Ruble to the degree that a wheelbarrow full wouldn't buy a lb of butter! (Can hope and paper save the $US from the same fate?)
Is it any wonder, based on family history, why they have become tough, hardnosed businessmen when the commodity at stake is gold?
RUF
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