Just hoping to get some dialog going on this..
How accurate do you think his predictions were? If so how do we best prepare?
I'm personally thinking if this is true US fed notes will be completely worthless. No reason to keep any of it. Spend all your cash buying land/property, gold/silver, lead, guns.. i guess nothing has changed really. Anyway, just curious what yall thought of his theory and what's the best way to prep. I'm a little bummed I've built up so much cash and my investment portfolio to have it all disappear..
I listened to this interview twice. What I found most amazing was what he said about how much gold the US has. He also said that we switched to gold back fiat money in 1913 because we had to sort out how to value the gold. In the 1970s, we got off the gold backed fiat to cut out speculation at that time.
As far as what will happen to us - he seemed rather positive. Only if you have more than $250,000 in the bank should you be worried about money in the bank (FDIC insurance can handle small accounts). There will be no run on the banks because they will close them. But then we will get reimbursed. There will be some way that the federal reserve notes will be valued.
The mint has said it is minting more coins but they are not putting them up for sale. He thinks they are getting ready to transfer "money" from the Fed to the Treasury. Average people do not have much gold or silver but banks have been accumulating them,
Me personally, I have been withdrawing money from the bank in moderate amounts twice a week and stashing it. Then if the banks do close for awhile, I will be able to buy stuff.