Ecuador Forum

Stokes
Joined 2013
Posts: 26

10 years ago

Dollar Devaluation Effect

10 years ago

I just watched an interview on USA Watchdog, with noted investor Jim St Clair. He is of the opinion that U.S. Dollar will experience hyper inflation and lose a large per centage of its purchasing power. He thinks this will begin in 2014,and by 2020 the currency will collapse. Nixon made a deal with the Saudi Royal Family, that all oil would be purchased in U.S. dollars, thus the term petro dollars. Nixon promised that the U.S. would protect Saudi and the Royal Family. Obama's moves in the mid east especially with regards to Iran is viewed by the Saudis as a break in the agreement. If the Saudis start accepting other currency for oil, the dollar will start its free fall, thus a great loss in purchasing power. Expats will certainly have a change in their standard of living. If the U.S. loses its status as world reserve currency, being in a foreign country may become a financial hardship on expats. I am in the process of moving my assets into Singaore dollars. I think that the aforementioned should be factored into any move abroad or remaining abroad. I suggest that all watch Jim St.Clair's interview.

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