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Note from JWR:
Three days a ago we recognized Pearl Harbor Day. Tomorrow (December 11th)
may be remembered as another "day that will live in infamy"--the
day that the Fed torpedoed the US Dollar.
You
see, the Federal Reserve's Board of Governors is meeting again, and as I
mentioned
in
the
blog last
week, it seems very likely that the Fed will cut interest
rates again. If it is a 50 basis point (or larger) cut, then it could kick
off another huge round of global Dollar-dumping, and we might see
the USD
Index plunge into the 60 range. Coincidentally, there will be another
Fed conclave in Jackson Hole, Wyoming, on Wednesday. How convenient. They can
formulate their desperation moves in reaction to the dollar meltdown that they
started.
Let's face it: It may not be this this year, or even this decade, but in
the long run, like all other un-backed currencies, the US Dollar is doomed.
Get out of dollar-nominated investments and diversify
into tangibles. Of more immediate concern: If there are any goods
on your retreat logistics lists that are made in Europe, then I recommend
that you move them up in priority. Odds are that many European-manufactured
items such as Kahles, Schmidt & Bender,
or Swarovski scopes will be unaffordable for US buyers in less than
a year.
