Download Buy gold now : how a real estate bust, our bulging national by S. McGuire PDF

By S. McGuire

Masterfully researched, and written in a simple variety, Buy Gold Now makes a case for getting gold as safeguard opposed to the emerging hazards of an exceptional international foreign money problem and as a ecocnomic funding automobile. Divided into 5 complete elements, this trustworthy source examines our country’s present monetary state of affairs from a historic viewpoint and addresses a few of the alarming concerns that many economists are at present pointing to with main issue.

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Extra info for Buy gold now : how a real estate bust, our bulging national debt, and the languishing dollar will push gold to record highs

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S. dollars) Source: The People’s Bank of China. S. dollars) Source: IMF. nations’ strength than a sign of the largest economy’s weakness: The world’s smaller but rapidly-growing nations have been forced to buy trillions of dollars from the mightiest not to defend their currencies from a devaluation, but to defend the dollar from a collapse. ”4 Had the world’s major exporters to the United States—that is, every other leading economy—not been accumulating dollars, their yen, yuan, and rubles would have appreciated far more than they have already, making their export products less competitive.

They are unlikely to fall much further. 3 Total Existing Homes for Sale (in millions) Source: National Association of Realtors. 4 Total American Mortgage Debt (in millions) Source: Federal Reserve. indd 51 1/12/08 2:37:32 PM 52 buy gold now Like other observers, I believed this real estate boom was a bubble with a delayed pop, one that will take years to recover from and which is likely to lead the United States into a recession. As Merrill Lynch economist David Rosenberg has pointed out, our real estate problem resembles boom and bust cycles described by MIT Professor Charles Kindleberger in Manias, Panics and Crashes, though we are in an early stage of the downswing.

S. Dollar in Euros Source: Bloomberg. indd 40 1/12/08 2:37:00 PM Our Economic Future May Be Out of Our Hands 41 Street refers to lovingly, though none of us know precisely what the term means anymore. ) Two trillion dollars are traded daily on the foreign exchange market, and if investors collectively decide that the dollar is going to crash, it will be difficult for authorities to prevent it despite their success up to now. If massive private dollar selling continues and central banks are forced to go from buying hundreds of billions of dollars a year to trillions—as the current pace of Monopoly money accumulation implies—the trend is likely to provoke a replay of the 1970s monetary disaster, in which all currencies crumbled as they chased the dollar down.

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