Once upon a time the United Kingdom ruled, like the Roman legions, its arms extended across the globe. Their currency, the pound sterling, was worth its weight, well in silver. One pound equaled a pound of silver. Down through the centuries the pound was devalued to its present value of $1.53.
At the turn of WWII the pound was valued at $4.86 a year later it was devalued to $4.03 then in 1949 it took a steep drop to $2.80 falling all the way to $2.40 in 1967. However, the pound was ready to take its deepest dive yet due to the recession that occurred in the 1980’s falling to its lowest point in 1985 to $1.03.
We bring you this information as a back drop to where the almighty dollar is headed; there will be no sanctuary when the tide turns; and as history provides an anecdote for sure, the GREEN BACK will not have anything to back stop it in the coming free fall.
To measure its descent we advise the uninitiated to keep a keen eye on the price of gold visa vi the price of the dollar. Because when the flight from Eagle begins there will be no stopping its descent; just ask Hugo down in Venezuela, may he rest in peace, what has happened lately to the peso.
The difficulty of catching a falling knife usually leads to more blood letting. But for now times are a bit sanguine, however looking across the pond gives one a clue on things to come, storm clouds are gathering on the horizon. China, Russia and the Mid-East are viable threats to the American legions that ruled after WWII. Pause for a moment to survey the ever changing landscape and you will see the harbinger that awaits a dollar collapse.
In 1931 the dollar was worth 1/20 of an ounce of gold (today that is $60), two years later on June 5, 1933 , theUnited States with a stroke of of FDR’s pen, the dollar was debased to where it is today; not worth the paper it is printed on.