Is she right? Karen Hudes is a former 20 year employee of the World Bank, and as such probably has a good handle on what’s going on and the implications of a possible (and inevitable) collapse of the U.S. dollar. She contends the U.S. credit rating is on very dubious ground and emphatically states:
“This is actually an underhanded move because they know the U.S. dollar is going to lose its status as an international currency.”
When that actually happens, Hudes predicts that prices would change on a daily basis, probably doubling in no time with those being employed being in the minority, causing lawlessness throughout.
What’s that going to do to the worth of whatever fiat paper money you have left? Answer: it will devastate you. What will happen if you own gold? You will thrive.
Again, is she overreacting? My position is, it can’t hurt to take steps to insure your protection just in case – and that’s by registering for a free Karatbars account to start buying gold right now.