Yes, the dustbin. That is where all fiat currencies end up. Without a precious metal to back them up – it is where this helicopter money eventually ends up.
Trace Meyer had an interesting article in the Run to Gold website yesterday. It was called The Euro is Evaporating.
I found it quite enlightening, especially in light of the fact that all of the talking heads on the cable business news programs last night were discussing that Europe’s problems are a dress rehersal for what the US will experience in another 3-6 months.
Here are a couple sentences that stuck out to me:
“Fiat currencies represent the common stocks of nations, or in the Euro’s case the common stock of a weak coalition of nations.
AND:
A few weeks ago when I was around Doug Casey he remarked that the Euro will be gone in about five years. As the above chart shows (a chart of gold priced in Euros), the Euro has lost about 75% of its value in the last 10 years. Mr. Casey may be slightly optimistic about this particular intrinsically worthless colored coupon that represents the common stock of that monetary union.
AND:
The Euro is broken. This was its destiny. This is the destiny of all fiat currencies.
AND HE CONCLUDES:
Like the Euro the FRN$ is destined to evaporate…..”
Here is the link to the whole article. Gold charts point out what is really going on. Gold price predictions are the ones to cue in on now. Numismatic gold coins and numismatic silver stand in the gap as your true inflation hedge. Do yourself a favor – contact your coins dealer soon. Better yet, contact us at Lear Capital for some physical gold today.