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When The Dollar Disappears

REALITY SLAP — Those green paper coupons (“dollars”) in your wallet call themselves a Federal Reserve Note. Please be advised that: (a) they are not federal; (b) there are no reserves, and; (c) they fail the legal definition of a note. Other than that, everything is fine. Please stay inside the velvet ropes and let us continue.

Dear Reader,

I thought you should know that, without exception, every one of the world's paper currencies ever printed has eventually collapsed and become worthless.

I love a good trend, and the 100% failure rate for paper money is an amazing track record that should not be ignored.

Of course, there is a reason for this.

Paper currency backed by nothing but the power of the printing press is the largest swindle ever perpetrated on mankind.

Did I say swindle?

I regret overstepping myself here.

Swindle is unpleasant and accusatory and I strive to maintain a civil tone at all times.

Please, in the future, if I inadvertently say “swindle” again or even “fraud” or “con job” when referring to prestigious bankers in white shoes and elegant attire, kindly substitute “regrettable instance of excessive malfeasance” and notify me at once.

Thank you.

The U.S. government currently owes trillions of dollars to Americans in promised retirement benefits, and trillions more to foreigners who have invested in America's debt, yet has ZERO intention of ever paying back these debts.

When enough Federal Reserve Notes have been borrowed into existence so as to finally render all of it worthless, loans will default and the dollar will revert back to its intrinsic value: ZERO.

This process has repeated throughout history, as nation after nation has bankrupted itself in its lust to get something from nothing, only to see the wealth of its people pass into the hands of the Money Power.

As for retiring on the largesse of Uncle Sam, let's say the Social Security Administration is promising you $1,000 a month when you retire.

You are currently 40 years old and will be eligible to start collecting in 40 years after the minimum retirement age has been raised to… what? 80?

But what are you actually being promised?

The answer: 1,000 units each month of whatever the national currency will be 40 years from now.

Which is what?

A digital dollar bearing the likeness of President Chelsea Clinton?

An implanted chip that talks to you?

When you receive your first 1,000 units in the year 2065, what will they buy?

A day's worth of groceries?

No one has any idea.

My heartfelt suggestion is that investors planning on a satisfying, long-term retirement denominated in doomed dollars should probably bend over as deeply as possible, grab their knees with both hands, and kiss their assets goodbye.

This, then, is the epic fraud of fiat currency.

Sorry, I meant to say—regrettable instance of excessive malfeasance.

Which begs asking… got gold?

To download a PDF of a handy little book I wrote about the necessity of owning precious metals, and rare coins in particular, click HERE