I’ll only venture to guess that we could see a monster financial crash, sometime in 2009. To some extent, all currencies are now free-falling together, some at slightly faster rates than others, but the situation of the U.S. dollar is so grotesquely dire, and it's structural imbalances so monumental, that it is hard to imagine that U.S currency will not win the international race to the bottom. Gold resumed its movement upward against the dollar a week before Christmas, and that may be an early sign. Even Microsoft is said to have laid off 17% of its workforce, this was reported as recently as January 2 2009 - www.mediapost.com Greater minds then I, who were themselves conservative estimate analysts of the financial problem are now full-out saying with me that we are in a depression, not a recession, but yes...a depression.
The reason why you can't fathom that we are in a depression is because you probably can't imagine the depression in any other way but in black and white just like this picture below, so for you the depression isn't real to you yet, but you will see it sooner then you think...
Sprott Asset Management is a very reputable financial source of information, I encourage you all to read this article because I was shocked to see such straight talk from a financial investment leader being very candid about what we all gotta hear more of Click here
All great republics throughout history cherished sound money. This meant that the monetary unit was a commodity of honest weight and purity. When money was sound, civilizations were found to be more prosperous and freedom thrived. The less free a society becomes, the greater the likelihood its money is being debased and the economic well-being of its citizens diminished.
-- An example below...
AMSTERDAM (Reuters) - The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands.
"Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."
That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.
The dollar hovered near record lows on Monday, with one euro worth around $1.58 versus $1.47 a month ago.
Hope you guys see what I see coming...
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