When U.S. paper currency no longer could be exchanged by its citizens for
fixed amounts of gold and silver, the long downhill slide of the dollar
began. Later in 1975, when the U.S. government would no longer redeem its
currency to foreign nations, the long downhill collapse of the dollar
began.
The dollar is finished.
Oil will accelerate its climb past $100 per barrel and soon will be priced
in Euros or in gold or silver itself, as the Euro follows the dollar into
oblivion. Any currency that is not fixed to gold is doomed to inflate to
worthlessness. History has proved this to be the case for all currencies
throughout all history.
Do not believe a word you hear from any government. Your dollars will soon
have more value as toilet paper than as a medium of exchange.
The only consolidation is the United States will soon have to return to
self-sufficiency or it will be forced to become a starving, cold, third
world nation. The old fiat currency must be recalled and new gold and
silver certificates backed 100% by metal will establish a new, intrinsic
currency. The nation will literally have to begin from scratch again to
earn its respect among nations.