By S. McGuire
Masterfully researched, and written in an easy type, Buy Gold Now makes a case for getting gold as safeguard opposed to the emerging dangers of an remarkable international forex main issue and as a ecocnomic funding motor vehicle. Divided into 5 finished elements, this trustworthy source examines our country’s present monetary scenario from a historic point of view and addresses many of the alarming matters that many economists are at the moment pointing to with main issue.
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Extra resources for Buy gold now : how a real estate bust, our bulging national debt, and the languishing dollar will push gold to record highs
Indd 35 1/12/08 2:36:58 PM 36 buy gold now economies, a slight increase in American debt to the world was barely a concern. Economists at the time had no idea of what lay ahead. 2 We have a negative international investment position that is now larger than the GDP of China. Lacking sufficient savings to lend to ourselves, our source of funding is the rest of the world. Though at the end of World War II, we held two-thirds of all the world’s international reserves, after decades of decline today we have less than a number of smaller economies.
The world’s exporters needed the dollar to be protected so that they could continue selling to the globe’s largest market. S. consumption, even today, accounts for one-fifth of global GDP. The world, then as now, relies on a strong dollar to keep the global economic engine running. ”What he effectively meant was this:When the Federal Reserve, in an effort to increase economic growth, turned on its money-printing machine—and it was running at high speed in the 1970s—the Bank of Japan and Germany’s Bundesbank had to do the same, or at least nearly the same.
6 I think economists have yet to reach a verdict on the reserve phenomenon because something like this has never happened, and there is no precedent to look back at to compare it with. The trillions in reserves—effectively dollars printed by the Fed—that nations have accumulated in just a few years has yet to cause a surge in inflation (though it is now rising rapidly in China) and global growth has remained healthy. Much like it was difficult to predict that the 2000 stock market was a bubble about to burst, there are few observers willing to openly address the potential dangers of the global explosion in dollar reserves.