Just last year, the United Nations declared that the dollar should be pitched. Another story out of Moscow proclaimed that the dollar must go and a new world currency needs to emerge. The timing of these troubling stories (and others like them) are clearly no “accident.” Nor is it chance that more global financiers and other world economic leaders are talking about a universal currency.
Enter the Quartet of Powers– the United States, the European Union, Russia, and the United Nations (arguably, the current rulers of our financial world). Clearly, it is likely that a new currency could soon emerge. The only point in question is what the value of this currency will be. Surely it will not be a 1-1 ratio, especially as the dollar’s worth erodes more and more each day. While we hope for the best, none of us should be too quick to accept the promise of the President to revive the U.S. economy. Is it even possible to revive an economy that is so deeply in debt? Our concern is for those who may be vulnerable to the tactics of so-called financial advisors who derive their income from the commissions paid by their clients. When talking with people who lost money in the crash of 2008, I always ask, “Whom did you trust? Who led you astray?” And then I recommend they flee from that person. My objective in writing this article is not to sell gold and silver, but rather to help individuals make right choices about their assets by understanding the value of precious metals. Should a new currency emerge, those who have made their money liquid will be the winners.