by Will the middle-class disappear and become the “serfs” of the United States? Many economists believe that the recovery of our economy will take years, if not decades. Inflation, falling dollar, higher unemployment, and lower incomes all make it clear that the average American family is in economic trouble. This could be the calm before a storm, regardless how much we like to think about. Jim Sinclair is a respected economist and precious metals expert who believes that the economy won’t see significant recovery for at least a decade. According to Sinclair, the middle class will end and gold’s price per ounce could rise to over $12,000. We can’t believe the “low-ball” gold price forecasts by Wall Street at $1700 per ounce. See compare gold IRA companies to get more info.
Let’s examine some economic predictors. This will allow you to distinguish the truth from the rhetoric, and help your family avoid the financial woes that most Americans will soon face.
Let’s get started overseas in Europe. The European Union tries to keep in line economies such as Italy, Portugal, Spain, and Spain. This European Union is on the brink of collapse and will soon be dissolved with the Euro. Germany has been asked by Greece to help prevent it from falling apart. Germany agreed to transfer money to Greece, in the knowledge that Greece would make necessary changes to fix their economy. A year later, Greece has more money and German citizens see their hard-earned tax dollars going to a country whose people refuse to make lifestyle changes in order to save their economy’s life. The worst part is that Greece doesn’t want to receive money from Europe. They prefer to go bankrupt and default with their debts than make the necessary lifestyle changes. Portugal, Spain, Italy and Italy seem to be on the side of Greece. They would rather default than have to pay money from Europe. In the past, strong European economies covered up the weaknesses of weaker countries in the Union. Now, the EU is crumbling. Too many countries, too many governments, cultures, languages, and beliefs exist to support this fragile union. So Europe’s economy is in serious trouble, and the Euro will follow it. The flight to gold or silver will follow this crisis!
What about the US currency? This June will see the end of refinancing the federal debt. To pay the interest on US debt, the government has been printing cash. This “extra money” makes the dollar more valuable. Soon, our fiat currency will be obsolete and non-existent. The United States already has an alternate currency in place. It is the SDR, or special drawing rights. What happens to American citizens who own stocks and bonds, T-bills or annuities? They all have US dollars. They are all in US dollars.
It is likely that the average family, who worked hard to provide for their children and educate them, will find themselves in a difficult situation. As the dollar investment becomes less valuable, their investments will not be able enable them to survive. Even if it survives, which it probably won’t, the Federal Reserve will continue to print money that will shrink the dollar’s purchasing power.