The USD is the accepted global standard currency. Most of the money the Fed prints actually leaves the country and is held by foreign countries. This is part of the reason hyperinflation hasn't occurred on a scale equal to the Fed's currency printing. Once the USD is no longer trusted as a safe asset to hold, foreign countries will look elsewhere for a safe haven (precious metals, etc) and US currency will suddenly come flooding back into the US, and at that point the dam will break and hyperinflation will run wild.
What's the significance of Russia using gold? Is there any likelihood that the American dollar will become useless?
The USD is the accepted global standard currency. Most of the money the Fed prints actually leaves the country and is held by foreign countries. This is part of the reason hyperinflation hasn't occurred on a scale equal to the Fed's currency printing. Once the USD is no longer trusted as a safe asset to hold, foreign countries will look elsewhere for a safe haven (precious metals, etc) and US currency will suddenly come flooding back into the US, and at that point the dam will break and hyperinflation will run wild.
So what I'm asking is... am I supposed to turn my entire savings account into metal right now?
Keep back enough to pay bills.
Extra money you don't need,invest in silver. It's a pretty jacked up/ shorted market. Longer term should be very good.
What does jacked up shorted mkt mean? It's expensive right now?