{"id":977,"date":"2011-06-23T18:16:06","date_gmt":"2011-06-23T18:16:06","guid":{"rendered":"http:\/\/www.itmtrading.com\/blog\/?p=977"},"modified":"2011-06-23T18:16:06","modified_gmt":"2011-06-23T18:16:06","slug":"global-financial-collapse","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/global-financial-collapse\/","title":{"rendered":"Global Financial Collapse"},"content":{"rendered":"

Right now we are in the middle of a glob\"\"<\/a>al financial collapse, meaning the world\u00e2\u20ac\u2122s reserve currency, the paper dollar, is slowly eroding.\u00c2\u00a0 Many fiat currencies like the dollar have come and gone over the years, thousands in fact.\u00c2\u00a0 For the same reason that these other currencies have collapsed so is the dollar \u00e2\u20ac\u201c money printing<\/a>.<\/p>\n

Paper currency has allowed massive debts to be created through the fractional reserve banking system in conjunction with the printing presses.\u00c2\u00a0 As these debts were about to be defaulted on, ie. AIG, GM, Fannie and Freddie, the government determined that it would be better to print money and bailout these debts.\u00c2\u00a0 They did this in the hope of putting a level of stability back into the economy.<\/p>\n

This stability has not been created and I believe that many people around the world can sense that things are still not right and that we have a long way to go before they are stable.\u00c2\u00a0 Monetary inflation will lead to greater and greater price inflation<\/a> which will lead to bigger problems and thus more stimulus through printing presses.\u00c2\u00a0 Right now we are in the initial stages of this problem and who knows how long it will take before the dollar finally collapses, could take decades.<\/p>\n

The world has been on this experimental money printing track since Nixon closed the gold window in 1971, thus allowing central banks to print at will.\u00c2\u00a0 It will not be until a new form of sound money is reintroduced that inflation will be contained.<\/p>\n

But banks love paper money over real money (gold and silver).\u00c2\u00a0 It allows complete freedom to the bankers to cover bad debts (bad bets) and it also allows unlimited capital to banks which in turn allows the banks to keep less money in reserves and achieve higher profits.\u00c2\u00a0 The problem is that you and I, the taxpayers, are the ones who cover these bad debts with an obligation to pay the bankers back who in fact printed the money in out of thin air.<\/p>\n

So the return to a gold standard isn\u00e2\u20ac\u2122t in the cards, at least not for a while.\u00c2\u00a0 Bankers have the power and they are not going to give it up easily.\u00c2\u00a0 So the question for you and I is how do we survive financially?<\/p>\n

The answer is in real money.\u00c2\u00a0 Owning gold<\/a> and silver is a vote of no confidence on the banking system and fiat currency.\u00c2\u00a0 As the world continues to print money, those that own gold and silver will see their purchasing power maintained.\u00c2\u00a0 This is why you hear quotes like \u00e2\u20ac\u0153an ounce of gold today can buy the same goods and services as it did 100 years ago.\u00e2\u20ac\u009d\u00c2\u00a0 Gold and silver tend to keep up with inflation over the long-term.\u00c2\u00a0 So if you want to protect yourself, add precious metals to your portfolio today while you still can.<\/p>\n","protected":false},"excerpt":{"rendered":"

Right now we are in the middle of a global financial collapse, meaning the world\u00e2\u20ac\u2122s reserve currency, the paper dollar, is […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[56,58,83,86],"class_list":["post-977","post","type-post","status-publish","format-standard","hentry","category-blog","tag-foreign-central-banks","tag-global-economic-crisis","tag-inflation","tag-invest-in-gold"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=977"}],"version-history":[{"count":0,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/977\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}