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If a person, being concerned about the future of the American dollar, is interested in putting some of their savings in other very stable currency, how would they find out about the long term stability (track record both past and expected future) of various currencies? What currencies would be recommended? The money cannot be tied up in long term investments, just looking for a safe (holding) vehicle. Thank you.
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WORLD BANK WHISTLE-BLOWER: “PRECIOUS METALS TO SERVE AS AN UNDERPINNING FOR PAPER CURRENCIES” http://silverdoctors.com/world-bank-whistle-blower-precious-metals-to-serve-as-an-underpinning-for-paper-currencies/#more-26232 WORLD BANK WHISTLE-BLOWER: “PRECIOUS METALS TO SERVE AS AN UNDERPINNING FOR PAPER CURRENCIES” MAY 7, 2013 BY THE DOC I had the opportunity yesterday to speak with one of the western world’s most courageous and astute women, Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower. It was a powerful conversation, as Karen spent 20 years with the World Bank as an attorney and economist, before being “let-go” after reporting internal fraud and corruption. During the interview Karen indicated that the world is rapidly changing, with western power structures breaking down, economic & political influence gravitating to BRICs nations, all amid a pending currency transition which will highly favor precious metals. Hudes stated: “All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, as we’ll have both systems at the same time.” From Tekoa Da Silva: Starting out by discussing the shocking centralized power she witnessed while working at the World Bank, Karen explained that, “A study done by three [swiss] systems analysts who used mathematical modeling [shows] how the [world's] 43,000 transnational corporations were being controlled through interlocking corporate directorates. There’s a group of 147 companies, most of them are financial institutions, and what they’ve done, is through the interlocking directorates, they control 40% of the net worth of these [43k] companies, and 60% of their earnings…so that group has been using the presidency of the World Bank as kind of a puppet to dominate the world—that’s [now] finished.” A major shock to that centralized power base, according to Karen, was the recent move by BRICs nations leaders to bypass the World Bank for their financing needs, by establishing their own development bank. “As the BRICs [nations] economic power grows,” she explained, “they’re not going to be strangled anymore through the grabbing [of] their resources…So their decision to start their own development bank was their way of letting [world] governments know…that its time to end this corruption.” Major moves toward monetary independence are also being made by growing numbers of U.S. states, Karen added. She explained that, “The states are starting to have legislation recognizing gold and silver bullion as legal currency. This is [also] a very strong signal the states are sending to the federal government, that the time to get serious about ending the corruption in the financial system is now here.” When asked her thoughts on what this all means for the world monetary system, Karen said, “What’s going to happen, is we’re going to have all the countries of the world, sit down and figure out what’s going to be the best, most orderly transition from the current system that we have, [which has] profound imbalance and unsustainable deficits…[this change] is going to happen as each country makes its preference known, because the system we have now is not transparent, and the biggest change [in the new system], is that there’s going to be transparency.” That transparency may be found through a gold-backed currency system, Karen noted, as, “All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, [as] we’ll have both systems at the same time. This is my guess, as I mentioned—I am an economist.” As a final comment speaking towards her difficult journey as a World Bank whistle-blower, Karen said, “I’ve been struggling now for years, to tell the American public what’s [been] going on. I haven’t gotten through, because this [financial] group has bought up the press and has been spreading disinformation systematically. That undermines the whole point of a democracy. How can voters vote without an informed opinion, without the information that they’re entitled too? So this strangle-hold on information is going to end in very short order.” —— This was a powerful interview conducted with a great American patriot and honorable world citizen. Karen is setting an example for the history books, and her interview is required listening for global thinkers and market students. -
Special consideration to his comments between the fourth and fifth chart....... When it comes to global currency warfare, one can read countless books (all of which professing to be the definitive reference guide for a process that started in the... 1930s), or one can fast forward, save lots of time, skip all the repetitive verbiage and simply observe the following charts which summarize the key things "one needs to know" about the dead-end that the globalized monetary system has found itself in since 2008, when the entire world decided that the only way to "fix" all of the world's problems is simply to print a countless amount of paper money. What Is A Currency War? What's Actually Strong/Weak? Who Uses What Currency Tools? (click image for full-size legible chart) And Just How Big Are The Interventions? Not all currencies can depreciate at the same time. ***At least one currency has to appreciate if all others depreciate. *** But everyone is trying it - as global rates have the lowest standard deviation on record (i.e. everyone is lowering rates and keeping them there). On a global scale, competitive devaluations are therefore impossible and may even pose a risk of escalation towards protectionism. Maintaining a non-cooperative equilibrium is a challenging exercise. Not only will every individual partly have to constantly monitor what everyone else is doing, but in addition, there is a constant risk of escalation into protectionist policies. Trade disputes are already on the rise. The number of WTO dispute cases in 2012 was the highest in 10 years. Finally, the extensive use of macro prudential policies and capital controls as observed in recent years poses the longer-term risk of misallocation of resources. Source: Goldman Sachs
