Gold and silver investment is the number one way to pull through the era of the dollar’s demise relatively unscathed.

April 13, 2011 – Gold and silver investment is the number one way to pull through the era of the dollar’s demise relatively unscathed. Both have proven time and again to preserve wealth when currencies fail. But still American interest remains quite low because we refuse to believe that the dollar’s days as world currency are over.

But Robert B. Zoellick, president of the World Bank, said in no uncertain terms that “the United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency … there will increasingly be other options.”

There are big changes here at home, too. COMEX, the world’s largest futures and commodities exchange, which until a short time ago accepted only U.S. treasuries and bonds as payment, now accepts gold in settlement of futures contracts. And many of America’s largest corporations – such as McDonald’s and Caterpillar – have found it easier to raise capital by issuing “dim-sum bonds,” securities denominated in Chinese renminbi rather than the dollar.

China and Russia have now agreed to eliminate the dollar from their trade. And long-time Middle East reporter Robert Fisk said that “Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including … a new, unified currency planned for nations in the Gulf Co-operation Council."

The loss of the dollar’s status as reserve currency will create “the biggest international monetary crisis the world has ever seen,” according to Brazilian economist and strategist Ricardo C. Amaral.

But what does Erskine Bowles, co-chairman of the National Commission on Fiscal Responsibility, have to say about the situation? “I’m really concerned. I think we face the most predictable economic crisis in history … This debt and these deficits that we are incurring on an annual basis are like a cancer and they are truly going to destroy this country from within … It may be two years, you know, maybe a little less, maybe a little more. But … the markets will absolutely devastate us.” That was his testimony to the Senate Budget Committee.

We better believe it, and protect ourselves with gold and silver investments before it’s too late.

Shannon King

Senior Staff Writer –

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