A top financial advisor, worried that Obamacare, the NSA spying scandal and spiraling national debt is increasing the chances for a fiscal and social disaster, is recommending that Americans prepare a “bug-out bag” that includes food, a gun and ammo to help them stay alive.
David John Marotta, a Wall Street expert and financial advisor and Forbes contributor, said in a note to investors, “Firearms are the last item on the list, but they are on the list. There are some terrible people in this world. And you are safer when your trusted neighbors have firearms.” Continue reading
In 1935, one U.S. dollar would buy you 1/20th of an ounce of gold. By 1968, it was down to 1/35th of an ounce of gold. Today, one dollar will buy you only 1/1,750th of an ounce. The same thing happened against silver. In 1968, one dollar would buy an ounce of the silver metal. Today it will only buy you a mere 1/32 of an ounce.
Talk about debasement.
And the dollar hasn’t plunged just against precious metals. Against copper, nickel and zinc—the metals found in pennies and nickels—it is in free fall too. In fact, the dollar has plummeted against orange juice, whiskey, beans, bullets, pork bellies, single family houses, automobiles, coal, oil, good suits, healthcare, tuition, labor costs—and virtually every measurable commodity. If you can name it, it probably cost more today than it did 30, 10, or five years ago—probably more than it cost last year.
The mint reports that if it replaced the copper-coated zinc penny (it took the copper out of the penny in 1982 because it was too expensive) with a steel one, it would still not be profitable. What’s cheaper than steel? Tin? Nope a penny’s weight of tin would cost more than a nickel. A penny’s weight of aluminum would cost 2 cents. Lead is little cheaper. See the problem?
How about plastic? Anyone for a plastic penny? Clay? Asbestos?
Calls to just get rid of the penny altogether are growing louder. But that will only hide the danger to the dollar for a little longer.
And don’t be fooled. The dollar is in grave danger.
Full article: America Is Looking a Lot Like Ancient Rome — or Is It Modern Greece? (The Trumpet)