Collapse of the American Economy?
I am a level headed sort, but I am seriously anticipating the possilbility of a future collapse of the American economy similar to that of Argentina, Ecuador etc.
The US will be facing huge debt and ever increasing obligations to Social Security and Medicare. The only way out may be a huge devaluation in the currency. Let's say a $1 is equal to few cents in the future. This would be the fastest way to pay off the national debt. I have friends in Ecuador who saw their life savings turned into paper for kindling in just a few months.
I currently hold about 10% of my assetts in gold. Also, a good chunk of my portfolio is in international funds.
Does anyone else see a future doomsday scenerio? How would you invest for it?
Vanwely
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