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The U.S. dollar is on the verge of catastrophe.
For the first time in history, the debt of the most powerful government on Earth, leading the world’s largest economy, has been downgraded by Standard & Poor’s to Double AA from a perfect Triple AAA.
The political grandstanding of the Republicans and Democrats over the debt ceiling made many Americans and others around the world doubt our leadership. And many feel the final deal between doesn’t go far enough to reduce US government spending.
US government debt now equals the Gross Domestic Product (GDP).
The 2007-2009 financial crisis appears to have been the first step toward a deflationary depression that could destroy the savings of three generations of Americans. We’ve technically been “recovering” since March 2009, but despite all government and Fed actions to stimulate the US economy, unemployment stubbornly remains over 9%.
That is, unless the government’s massive cash creation unleashes a wave of hyperinflation.
The US dollar has recently hit new lows against the Japanese yen and Swiss franc, despite massive interventions by the central banks of those two countries.
China has divested itself of 97% of its holdings of short-term US Treasury bills. That happened by March 2011, well before the current downgrade.
China still owns many billions of US dollars of long-term Treasury bonds and is clearly worried about the future. They are making a big show of supporting Europe’s economy, so they have an alternative to the US dollar. What is wrong with us when the biggest Communistic country on Earth has to lecture us on how to manage our currency?
How much longer will China, Japan and international bankers continue to buy U.S. Treasury bonds to finance our swelling budget?
If these countries began selling US dollars instead of buying, the hyperinflation would bankrupt America.
We – and Europeans – are also threatened by the debt problems of Europe. Greece nearly went up in flames over austerity measures forced on that country. Italy, Spain, Portugal and Ireland are also in bad shape. How long will France and German taxpayers continue to support them? If the euro breaks up, that will create more financial instability for the entire world.
Gold recently hit a record high of $1,813 per ounce.
I can't tell you exactly what is going to happen in the treacherous foreign exchange and financial markets in the future. Maybe another recession - the double dip some have been predicting since April 2009. Maybe deflation leading to a horrific depression. Maybe hyperinflation. Maybe a total collapse of the world's financial markets and infrastructure.
All I know for sure -- and every day's headlines confirm this -- is that the future for the US dollar, euro and other fiat currencies looks dark and ugly.
Bring on the Crash! offers a 3 part process to protect yourself and your family from these dangers.
Whether you have $2,000 or $2 million, this volume contains all the resources you need to make sure you weather the coming storm.
This 3 step process is a comprehensive plan to survive almost all financial emergencies the US dollar is now facing.
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