Friday, October 22, 2010

What Will You Do When the Collapse of the U.S. Dollar Wipes Out Half of Your Wealth?

I got this email today. Thought I would pass it along. In retrospect, seems things are happening along the way it was told to me. Go figure..

Love and Light..
Gerald..

I came across some shocking information recently that has little to do with health -- but I think everyone should know this before it's too late to do anything about it.

Last month, the National Bureau of Economic Research (NBER) issued an announcement saying ... the recession is over.

In fact, the NBER stated: "The recession ended in June 2009, making it the longest downturn since the Great Depression of the 1930s."

But is the recession really over?

Not by a long shot.

Unemployment remains at a painfully high 9.6% ... people still struggle to pay their bills from day to day ... and according to a CNN report on September 16, the nation's poverty rate jumped to 14.3% last year, and that means 1 out of 7 Americans (almost 44 million) are living in poverty.

And ... the value of currency continues to plummet! What does this mean to you?

Let me explain this as clearly as I can by giving you an example:
Suppose you have $2,000 in the bank on Friday afternoon. When the bank opens on Monday, you still have the same $2,000 in your bank account, but because the value of the U.S. dollar has collapsed, you now have 50% less buying power. So if you wanted to buy something that would've cost you $500 on Friday, it will now cost you $1,000. You've literally wiped out one half of your buying power -- and consequently wiped out half of your wealth!

And that's not all. What if you had a retirement account or money market holdings? Half of your funds would vanish into thin air when the coming currency devaluation happens.

And happen, it will. The writing is on the wall. The trillion-dollar deficit has caused the government to keep printing money without the backing of precious metals -- and that practically guarantees that the U.S. dollar will be devalued to the point of collapse.

That's a scary thought, isn't it? That's what I thought, too.

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