An already weak economy will become even weaker. This means less tax revenue, which flies in the face of government forecasts which call for an increase in revenue. As the chasm increases in size between spending and revenue, faith in the US dollar will evaporate. This will lead to a significant devaluation of the dollar, or an outright collapse.
Many developed countries face similar problems today and this is one of the major pillars of this secular bull market in gold. Make sure you have gold as your insurance policy. This means owning physical bullion, not paper promises.
Friday, June 25, 2010
Coming Collapse of the Dollar
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