Lord Monckton opens:
Obama has done it. He has brought America down. It only took him just over four years. The Republicans could have stopped him. They didn’tI'm not sure they could have - and you probably know I'm not a reflexive Stupid Party fan by any means. Certainly through the 2010 elections, every branch of government was in the Evil Party hands, so no amount of wrangling could have stopped them from doing whatever they wanted. After 2010, there has only been a Stupid Party majority in the house, and they couldn't stop the senate from doing anything. I think the last count in the prestigious world record for the Number of Times the House Resolved to End Obamacare is 31. They could pass a bill every week and let it die in the Senate.
Much of his analysis echoes what I wrote here on May 5 and on other occasions. Don't fall for the line that the Chinese need us; we're practice. Once their own consumer market is running at full stride, they don't need to ship goods here. Yes they own some of our debt, but they're getting out of it and making deals to trade in currencies other than dollars. I pointed out years ago, the Chinese aren't just buying gold, they're buying gold mines and they're encouraging their citizens to buy gold, too.
First, the dollar will cease – no, make that “is already ceasing” – to be the world’s reserve currency. China, as I have been warning you she would, has realized the dollar is finished. So she is quietly making startling progress with bilateral and multilateral deals to replace the dollar with the yuan as the world’s currency of choice.He goes on to offer some practical advise:
Watch some of the straws in the wind. China and Korea have come to a little-noticed agreement that international trade between them will no longer be denominated in U.S. dollars, but in yuan, or Won.
So, what should you do to protect yourself and your family? First, get rid of every dollar you have. Dollars are now all but worthless. When the crash comes, they will have no value at all.You might like to go read it. It's largely my usual views and advice, but since he's a Lord and not some random Internet Dood, you can quote him to your friends.
In hard times, most financial instruments – currencies, stocks, bonds – are not worth the paper they are printed on. Get rid of them now. Buy silver coins. They will quintuple in price once the crash sets in, and they are small enough to be fungible when the dollar dies.
Buy land, some of it well-wooded, some of it arable, some of it grassland. You will need the timber to power your steam tractor. Gasoline will be a costly rarity. And make sure you can defend yourselves. Starving mobs are no respecters of persons. Do what the Mormons do: Get three months’ supply of imperishable foodstuffs and hide them in the basement.