Will the U.S. Dollar Survive?
By Greg Hunter’s USAWatchdog.com
Alf Field has been called the “world’s best gold analyst.” He is best known for his many spot-on predictions in the precious metals market. Field has written extensively on debt, the dollar and has predicted the gold price per ounce will reach $10,000. Before you laugh, the “paper” gold market was cited as a “Ponzi Scheme” at last week’s Commodity Futures Trading Commission hearing on increased transparency for the market. A recent story on “Zero Hedge” covering the CFTC hearing documents the big bomb dropped about the London Bullion Market Association (LBMA). Here is a snippet from the article: “What was then astonishing is that the bullion bank apologist, Jeffery Christian, of CPM Group, who has always been staunchly against GATA (Gold Anti-Trust Action Committee) endorsed Adrian’s comments as being “exactly right” and went on to confirm that the LBMA trades over 100 times the amount of gold it actually has to back the trades.” (Click here for the complete story)
The implications of this are profound! There is only one physical ounce of gold for every 100 ounces traded on paper!! If buyers demanded delivery of their gold, the “paper” market would collapse; and the market price of physical gold would explode. This could be one of the many reasons Field sees much higher gold prices in the future. His other reasons gold will take a moon-shot all begin with the letter “D”. They are “Debt, Deficits, Dollar, Deflation, Demographics, Derivatives, Dwellings, Destruction and Deceit: This is a new one. The first casualty of war is truth. Lies, deceptions and misinformation abound in a war situation. Whether we like it or not, we are all involved in a war between government fiat currency and sound money. Governments will not willingly give up their right to create new fiat money. We must expect Governments to fight the introduction of sound money with whatever tools they have, which will include propaganda and misinformation.”
Field’s last writing was April of 2009. The reason he stopped writing says Field, “I recognize that if I continued writing these articles that I would find myself simply repeating much of what I have written before.” (Click here for Field’s last article) I interpret this to mean what is going to happen is set in stone, and it is just a matter of time before the dollar dies.
In an impromptu gold conference speech in 2005, Field predicted, “The U.S. Dollar is not going to exist . . . somewhere in the foreseeable future.” Please take the time to watch Field’s amazing insight into the future in the video clip below:
From your article: “The U.S. Dollar is not going to exist . . . somewhere in the foreseeable future.”
I believe this is possible!
What our government is doing is not sustainable. As Obama opens-up a FEW areas for drilling and focusses on so-called sustainable energy, he is not worried about sustaining America’s economy.
When we worked together at Good Morning America you called it before it happened:
1]You said…The stock market was a scam and it was going to crash!
2]You drove me nuts talking about gold..but you had it right…the price tripled!
Good Job….The talking heads on CNBC had no idea what they were talking about.They are still clueless.
I recently heard you on KSFO Radio and agree with your comments about the US Dollar.
I would like to move some IRA money in Metals but am concerned about Government confiscation (again). Any comments/advice?
The other great gold guru is Jim Sinclair, who has been calling for what we’ve been seeing since 2000! Now there’s a real stand-up guy! He gives all this advice on a website that he personally absorbs all costs, and doesn’t charge anything for the fine advice. If you haven’t already, check him out at http://www.jsmineset.com
Hey Greg. Great site you have.
I have heard not to keep gold in safety deposit boxes because of bank failures that are still going on. I emptied mine last year and bought a safe. Gun safes are the best, they say, but small ones you can hide in your home.
I think the spending that people are doing, is to get what they need before higher inflation and higher taxes. Get what you need now and stock up on food. Don’t buy expensive items if you can’t pay with cash.
Me and Jim were considering getting a number of solar panel systems for our residence a year ago. The only concern was the price tag. The most affordable solar system we found was around ten thousand bucks. It might have taken us decades to recover that amount of money. Anyways, we stumbled across directions for building your own solar panels. We ended up going that route. It ended up saving us quite a bit of dollars, and the free, eco-friendly energy is excellent! 🙂 We operate a number of of our home appliances off of this grid.
This is an excellent article. I have bought gold during the past two years simply as a means of barter when the inevitable inflation disaster hits. As for the paper ponzi scheme it seems obvious that this would be the case. Forget about the dearth of gold relative to the paper, how is one to retrieve their physical holdings when society ceases to function?