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Originally Posted by Fred Allen Burge
I've seen some stuff posted around lately that's got me pretty concerned about the good 'ol US dollar. Countries beginning to buy oil with gold instead of dollars in particular. Apparently any time that begins to happen we invade that country on false pretenses (WMDs?), start a war and take over to keep the dollar strong, ie Iraq and upcoming - Iran?.
What are your thoughts, time to get rid of any cash and convert it into hard assets (gold, silver, guns and other tools) before the dollar tanks and takes our savings account down with it? Are we really on the precipice of a national or global reset?
India abandons US dollar to purchase Iranian oil - YouTube
The Demise of the Petrodollar - Casey Research |
I'm sorry, but do you have any idea what that India report is about? It has nothing to do with the 'value' of the US dollar. It has everything to do with the US and Europe putting sanctions on Iran. Iran can't do anything with US Dollars or Euros now, they are blocked from spending them anywhere or converting them into another currency. So India, which is circumventing the sanctions, is paying in gold.
US dollar has been rising against the Euro due to the sovereign debt issue in Europe.