Certain days it takes real research to find information needed to keep the Mind Your Money blog up-to-date. Other days there is a flood of information to keep us lasered on point. Today, was the latter, we went about checking the usual news outlets and here is what we found.
CNBC: Market Knows Dollar ‘Has No Clothes’: Asset Manager, an article bemoaning the Dollar not just declining, but on its way out. Daily Reckoning: When Gold Becomes Money Again, a warning to all fiat currencies that their days are numbered due to gold becoming the New Currency, reprinted in Forbes. The again Forbes with Stop The Madness: Make The Dollar As Good As Gold, a call to Bernanke & the Fed to bring the Dollar back onto a gold type standard.
There were more but you get the point. Looking at the talking heads in the news in the last 24 hours plus other statements made by Warren Buffet (Dollar on Verge of Losing ‘Reserve’ Status) & Alan Greenspan (Greenspan: Gold is a Universal Means of Payment) in the last month you can hear the bagpipes playing Amazing Grace in the mist. The funeral procession is well on its way for the Dollar, all that is left is to pry the it from the Fed’s cold dead hand.
We still believe in this country, in the power of American innovation that keeps us as a beacon to the world of what happens when a society is given the freedoms to accomplish anything. From this will come a solution, yet don’t be caught off guard during the inevitable transition. Bolster your position with physical holdings of rare coins and precious metals in your tangible asset portfolio(TAP). Yes, like clockwork, a conservative 10% to aggressive 20% investment of your total net worth in a TAP will provide as all other assets including the US Dollar fail.