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Date: November 11, 2010
Subject: History Will Repeat Itself…This Time for the US Currency


This is
G&G Associates Tax & Financial Consulting
e-Newsletter

History Will Repeat Itself…This Time for the US Currency

Alafia (Peace & Blessings) G&G Readers,

Argentina imploded in 2002.

It devalued its currency… defaulted on its bonds… and confiscated private pension plans. And it severely restricted the amount of money individuals could withdraw from their bank accounts.

For wealthy Argentine citizens, it was economic Armageddon.

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Of course, this wasn't the first time the country faced an economic crisis. Argentina is known to have wildly volatile boom and bust cycles. This bust, however, was more severe than its predecessors. The government used the crisis to break contracts, increase the scope of its power, and steal money from its citizens.

In other words, Argentina suffered a currency crisis.

And as difficult as it is to accept, we may soon face the same thing in the United States.

The dollar is doomed. And despite my conviction that the dollar will enjoy a short-term bounce from today's oversold levels, the Fed's perennial quantitative easing programs virtually guarantee the dollar's destruction in the long term. The U.S. is headed for an economic collapse. And it's a pretty good bet if the U.S. goes down, it'll take the rest of the world with it.

It'll be a worldwide economic Armageddon – which seems inevitable, given the flawed policies of the world governments and central banks.

So, the obvious questions are… What can you do? How can you survive? Is there life after a currency crisis?

What better way to get answers than to take a closer look at Argentina? It's been nearly a decade since the country's economy disintegrated. If we want to know what the U.S. may look like a decade from now, we can get a pretty good picture by looking at Argentina.

Argentina is not the country you might want to break your neck to go visit on your next vacation, but neither is it the desolate hellhole you might imagine given the circumstances.

Instead, the country is in purgatory. The final destination is yet undetermined. But there are plenty of clues that point to its fate.

In all, it has been an eye-opener for me as I research what is happening here in the good ole USA. And it's helped me craft a plan for the best course of action should the U.S. follow a similar path.

Stay tuned…

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Until the next time,

Ankh Uja Snb (Life, Health, Strength),

Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax
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LEGAL NOTICE: This work is based on SEC filings, current events, interviews, corporate press releases and what I've learned as a financial consultant. Nothing herein should be considered personalized investment advice. It may contain errors and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.



 

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