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Richard Russell - Gold To Save World From Drowning In Debt, overnight raise the price of gold to $10,000

The Godfather of newsletter writers, Richard Russell, believes gold will be used to save the world which is drowning in debt. Here is what Russell had to say: “The national debt of the US is now well over $16 trillion and growing at the rate of over one trillion dollars a year. It can never be paid off through the ‘normal’ means. Paying off by normal means would entail a huge, really killer boost in taxes and a brutal unmerciful, slashing of entitlements. The only way the US's debts can ever be seriously addressed is to devalue the dollar.”

“The US owns the world's greatest hoard of gold. Here's what I think the authorities have to do. They should unilaterally, overnight raise the price of gold to a high value, maybe around $10,000 an ounce. Thus, each dollar would be worth one ten-thousandth of an ounce of gold. This would allow our enormous debt to be paid off with vastly devalued dollars.

This would be inflationary, since everyone who owned gold would own a pile of devalued dollars. The huge increase in the number of dollars would drive prices up, and that would work against the current forces of deflation.

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gasoline will finally hit $10/gal

here in the states. I know that its gonna suck if/when the bottom falls out of the economy but phew $10k/ounce is gonna cripple a lot of people that dont own a nice chunk of gold. Its kind of sad really, to think that it might take something so drastic to show people how messed up it is and turn things around and eliminate the fed.

I also just got an email from C4L and Dr.Paul about donations to help push audit the fed this month in the senate off-topic sort of but just an FYI. Im sure someone may start a post about it if there is not one already.

Homeland security statement: patriotism is now considered terrorism.
I love www.isidewith.com shared it with everyone I know. If anything they realize its not just a red and blue idiot running for reelection.

Devaluation doesn't seriously address the debt -

It's just another way to default.

Take it from the Dr.:

http://www.realclearpolitics.com/video/2011/07/28/ron_paul_d...

Welp, better buy some gold

Welp, better buy some gold then. Even if it went up to $10,000 an ounce, I'd still want to hang on to it because the dollar would just be inflated then.

Southern Agrarian