Forbes: "Devaluation and economic chaos are guaranteed"Submitted by john2k on Sat, 01/08/2011 - 18:01
In Forbes article Soon The Economic Deluge, author Daniel Oliver Jr explains that with the dollar in freefall, the monetary system is breaking down. The author explains that if this crisis resembles the 70s it would result in $7,000 gold and $200 oil. IMO, seems that it's going to be a lot worse than the 70s.
The article concludes:
"Devaluation and economic chaos are guaranteed, just as they were in 1969. Fortunately, unlike in 1969, gold ownership is legal. Those who understand free markets can still preserve the capital that will be needed to restore American prosperity after the deluge."