Need help explaining why dollar is going to collapseSubmitted by fight4liberty on Thu, 05/29/2008 - 16:42
I need help explaining to a friend of mine why we are currently not in just another economic downturn in which we will see the dollar recover from its present devaluation trend . He is a typically financially uninformed middle class family man that thinks I am being a doomsayer by telling him the dollar is not going to recover but in fact is going to collapse sooner or later on this particular recession cycle. I care about him and want to help him protect his family by getting out of debt and buying precious metals, etc. and get him to see the RP is the only candidate that really understands our country's financial situation and can begin to fix it.
He told me that there have been several other economic downturns in the past and that the Fed has always handled them and he doesn’t believe this current situation is any different. I told him what RP (and Peter Schiff and others) have said about things having gotten to the point where the Fed doesn’t have any “tools to fix it” this time but it doesn’t make sense to him because I don’t understand it enough myself to be able to explain it to him adequately.
I would like suggestions on what I should tell him specifically which will help him understand why this time it’s different and what we mean exactly when we say that the Fed doesn’t have the “tools to fix it” this time.
If you would prefer pointing me to another source to read or a video that would be good, too.