I just wanted to post an excerpt from “The Dollar Vigilante Blog” that was very to the point about a euro collapse. You may not agree with it, but it’s at least something to think about. I would rather prepare for the worst and the worst never happen instead of not preparing at all. And I would like to add that if the euro collapses, the dollar won’t be far behind (or vice versa) Excerpt follows:
Seriously, however, we are walking the razor fine line of euro collapse at the moment. And, a collapse of the euro would all but set off a complete monetary system collapse that would bring down virtually all western fiat currencies and result in a depression unlike anything we’ve ever seen before.
From our perspective, as dollar vigilantes, we are prepared for whatever happens. If the euro collapses and brings down the financial system, instantly impoverishing hundreds of millions, we have the majority of our assets in hard assets and many of us have already moved out from population centers. For those who remain, they should hopefully be as prepared as possible with a few months worth of food, water and some weapons to stave off the hordes.
And, if they paper over the euro, yet again, then that means we are headed for another year or two of rising inflation that will likely result in a gold stock mania bubble unlike any in history… at that point we’ll be looking for 1,000-10,000%+ type returns on our gold stocks (which are 30% of our general portfolio) and then we’ll look to cash in our profits and get into hard assets again before the next collapse.
All in all, it is not easy times for investors/speculators. There isn’t a lot of historical data for what works best during a global monetary system collapse… so, all we can do is hedge our bets and do our best to adapt to the constantly changing landscape and try to avoid the traps, mostly laid by our own governments to confiscate our wealth, along the way through geopolitically diversifying our assets, second passports and the like.
As Richard Russell once said, in times like these, the person who loses the least, wins. Many of our friends and neighbors – those who roll their eyes when we talk about things like this – will be wiped out completely. And, Occupy Wall Street is already carving their knives for anyone who has any remaining assets – as is usually the case during the collapse of a socialist-style system.
And, that is if the US doesn’t enter the world into World War III in the meantime as the Prince of Peace, Barack Obama and the psychopathic murderer, Hillary Clinton, romp around the world sabre-rattling and provoking almost everyone, from the Chinese, to the Russians to the Arabs into an all-out, world-ending, nuclear armageddon.
- The Beginning of the End of Fiat Money (xkorpion.wordpress.com)
- Prepare for riots in euro collapse, Foreign Office warns – Telegraph (2012indyinfo.com)
- British draw up plans to protect citizens across Europe from mass-rioting if Euro collapses (theextinctionprotocol.wordpress.com)