If, as I believe, the dollar is doomed, why aren't the super-wealthy doing anything to stop this from happening?
By "super-wealthy". I am not referring to millionaires or multimillionaires. Those people will be hard hit in a crash and, if knowledgeable, will be trying to prevent it. But they are relatively powerless in this matter. Why? Because THEY ARE WAY TOO POOR!
There are families - dynasties if you will - who are far richer than a simple millionaire. They own huge things such as the Federal Reserve Bank. Yes - the Federal Reserve bank has owners! It sells stock. Not to you nor me of course. But just to select insiders who are among the super-wealthy, about whom I speak.
Here is a quote from: Board of Governors of the Federal Reserve System.
"The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year." (Emphasis mine of course.)
So, there you have it. A guaranteed 6% on a stock purchase! Why would anyone buy anything else? Well, for starters - YOU can't buy in! It is for insiders only. Not for we the people. Is JPMorgan Chase
a member bank? Yep. Of course they are. Other well known big banks are as well. You can go to the aforementioned web site and become utterly confused about the Federal Reserve and its owners. I suspect that confusion is deliberate. What do you think?
Next step in understanding why the super-wealthy aren't worried about the looming dollar crash:
Those people aren't investing just in currencies. They buy properties. They buy tangible assets which will continue to exist after the dollar is history and worth its weight in paper.
They buy gold. They buy silver. This in addition to buying land, buildings and most of all POLITICIANS! Yes, political "influence" is a top priority. How else can anyone explain how they get a 6% guarantee, PLUS the fact that our government borrows from them to print currency.
Think about that last part a little. Our government borrows from the private Federal Reserve to print currency. WHY? Couldn't the government simply turn on the printing press and create currency? The answer is YES! It COULD. and - it did!
President Kennedy issued an Executive Order regarding the creation (printing) of money which put an end to borrowing from the Fed. It was Executive Order # 11110.
Here is a great web page explaining what he did: Kennedy defies the fed. Then - you know what happens to him . . .
|Top is a United States Note (read on the top of it). Bottom is a Federal Reserve Note.|
That being said, can we see what is going on? The super-wealthy are going to survive quite well when the dollar collapses. And it is going to collapse!
Is there a sure way for "US" to survive and prosper in the coming calamity?
NO! No sure way.
Sorry. I'm sure my readers expected me to say yes, buy silver! But, no, that isn't a sure thing. The super-wealthy can manipulate even the precious metals markets. We see some of that happening even now. Silver drops from $34 to $15 an ounce in a few months. Why? It is manipulated - that's why.
But if you persevere in your strategy, you may possibly come out on the other side well-to-do. The key is just that - perseverance. If you succumb to the market and sell off too soon you will lose. You need to hang in there. Never give up your stash. Until . . .
So, when do you sell? How do you know when? I haven't a clue. I do know that silver and gold have never been worthless throughout man's history. I know that calculating the value in dollars etc. is foolish. It has intrinsic value. It is worth bread and butter not fiat currency. So, when to sell is up to you. You must decide. Should you trade off for dollars when the dollar value of silver reaches $100 an ounce? If you do that and the next day the dollar is devalued or crashes what do you have then? Paper.
I am not writing this blog to give you instructions for investing nor for selling off your store of wealth. I am doing this for two reasons. One, is to make you think about these things and prepare in your own way for future possibilities and/or probabilities. Two, is to make ME think these things through as well. I don't have all the answers. Plus, I am poor as the proverbial Church Mouse.