It becomes more apparent with every passing month that America is bankrupt. And the dollar is quickly losing its status as the reserve currency of the world.
In the last couple weeks, the prices of gold and silver have spiked significantly. We may see prices of precious metals continue to rise rapidly as the dollar deteriorates.
At what point will the U.S. be forced to default on its obligations to other countries? At what point does the currency become worthless and be replaced by something else?
Just some things to think about.
If the U.S. defaults on its debts, it will practically force the rest of the world into bankruptcy. It will be a worldwide Jubilee of sorts. Or, at least that’s what I’m hoping for.
When this happens, it’s not a good idea to be a creditor. Far better to be a debtor, strange as that sounds.
Not that this provides an excuse to intentionally rack up big balances on your credit cards. Because what I’ve described above may not happen. Time will tell…