Dollar Sinking – Gold Soars

Posted by Larry Edelson - Money and Markets

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The U.S. dollar resumed its swan dive overnight, hitting brand-new, one-year lows.

Meanwhile, gold — the world’s ultimate dollar hedge — surged nicely to within an eyelash of its all-time high.

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But it should come as no surprise that global investors are beating the dollar like a red-headed stepchild.

After all — they know that U.S. Treasury Chief Timothy Geithner is going panhandling this week — begging and borrowing every penny he can to fund Washington’s precedent-shattering $1.6 trillion budget deficit.

Today, Geithner will rewrite the history books by dumping an all-time record $43 billion in new U.S. Treasuries on the market in a single day.

PLUS, tomorrow and on Friday, Geithner will return to the trough, borrowing an additional $69 billion to keep the lights on in Washington.

That’s a total of $112 billion in U.S. Treasury borrowing in just three, short days!

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Geithner:
“Brother, can you spare $112 BILLION?”

This is truly alarming: If you’re like me, you can remember a time not too long ago when U.S. Treasury borrowing was less than $112 billion for an entire year. Now, we’re borrowing that much in less than one week!

I wish that was the worst of it. It isn’t: So far this year, Geithner has borrowed a mind-boggling $1.41 TRILLION to fund Washington’s debt addiction — nearly THREE TIMES MORE than the Treasury had borrowed at this time last year.

And still, this is only the beginning: The Congressional Budget Office (CBO) has warned that Obama’s budget will add nearly $10 trillion in new government debt over the next ten years.

If the CBO is correct, our national debt will soar to well over $21 trillion by 2019. That’s more than double the value of all the goods and services our economy now produces in a whole year!

Meanwhile, over at the Federal Reserve, “Helicopter Ben” Bernanke is printing unbacked paper dollars like there’s no tomorrow.

Yesterday alone, in his ongoing attempt to keep Geithner’s precedent-shattering borrowing spree from sending interest rates into the stratosphere, Bernanke had to print more than $4 billion just to BUY treasuries.

THIS is why the U.S. money supply is skyrocketing! THIS is why sophisticated investors worldwide are recoiling in horror.

Protect yourself now or you’ll be kicking yourself later!

The plain truth is, the value of your money — your buying power and your standard of living are being sacrificed on the altar of Washington’s debt addiction.

But if you make the right moves beginning immediately, you still have time to shore up your financial defenses. You can shield yourself, your family and your savings and investments from disaster as this great dollar decline crushes the value of your money.

More than that: There are many ways to harness this historic convulsion to keep your wealth growing.

That’s why I will be presenting a complimentary online seminar entitled “Washington’s Secret War on the Dollar: Protect Yourself and Profit” — in two weeks; on Tuesday, October 6, 2009.

My mission is clear: To help make sure you have the knowledge and the specific recommendations you need to insulate your wealth and to keep it growing as this great dollar disaster unfolds.

This online briefing is absolutely free for you — part of our ongoing commitment to help you sidestep emerging hazards to your wealth and profit no matter what the economy throws at you next.

I’ll give you the clear, concise, unhedged answers to your most pressing questions about this crisis now.

Right off the bat, I’ll give you my shocking update on this great global war on the value of the dollar …

  • The startling truth about America’s debt debacle: Why the real national debt is more than EIGHT TIMES GREATER than Washington claims … why the full weight of our debt addiction is beginning to hammer the dollar NOW … and why our leaders have no choice but to slash the dollar’s value in sheer self-defense.
  • Global investors stampeding for the exits: Why the world’s governments, central banks, financial institutions and super-rich investors are fed up with Washington … why increasing numbers don’t want to touch the dollar with a ten-foot pole … and what they’re doing to protect themselves at YOUR expense.
  • NEW demands to replace the dollar as the world’s reserve currency: What the news media isn’t telling you — and how global plans to stop using the U.S. dollar as a safe haven or for international trade will impact your buying power and standard of living.
  • What’s the next shoe to drop in this great global war on the dollar? Could the G-20 be secretly scheming right now behind closed doors to accelerate the dollar’s plunge? (My answer is admittedly outrageous and has tremendous implications for your financial security!)
  • Protect your wealth even as others are losing theirs: Critical steps you should be taking right now to protect yourself from this great dollar disaster. PLUS, the three investments that are most likely to preserve your wealth as the greenback continues to plunge in value worldwide.
  • 7 investments set to skyrocket as the dollar sinks: These often-overlooked investments are the most profitable way I know to harness this massive, long-term dollar decline. I’ll show you what to buy … where to buy it … and when!

The Title:
Washington’s Secret War on the Dollar:
Protect Yourself and Profit

The Date:
Tuesday, October 6, 2009

The Time:
2:00 PM, Eastern time
(11 AM Pacific, 7 PM GMT)

The Price:
FREE

FIRST, check your e-mail for the invitation I sent you earlier today, then click the link in that email to grab your FREE registration and to make sure you get your instructions for attending in time.

AND SECOND, click here, leave a comment and tell me what you’re most interested in hearing from me during this all-important online seminar. I’ll do my level best to make sure you get the answers you need!

Together, we can get you through this with your wealth intact and growing. You have my promise that, for our part, we will do everything possible to make sure you and your family are among the survivors and actually grow your wealth as this crisis continues to unfold.

Best wishes,

larry_edelson
Larry Edelson

P.S. You have our permission to invite your family and friends to join us! Washington’s Secret War on the Dollar is being created as a major part of our commitment to help YOU protect yourself and profit in these treacherous times. But if you have friends or family you trust and who need help insulating themselves as the dollar declines, you have our permission to forward this invitation to them.

 

Larry Edelson
Financial Analyst

Larry Edelson, a financial analyst specializing in international macro-economics, and the precious metals and natural resources markets, is the editor of Weiss Research’s Resource Options Alert, Energy Windfall Trader, and the monthly newsletter Real Wealth Report.
Mr. Edelson is a co-editor of The Foundation Alliance as well as managing editor and a regular contributor to Weiss Research’s daily investment e-newsletter, Uncommon Wisdom.
Mr. Edelson also serves as an Executive Director of the prestigious Foundation for the Study of Cycles — a non-profit organization established 78 years ago at the behest of President Herbert Hoover and Edward R. Dewey, Hoover’s Chief Economic Analyst, to conduct ongoing research into the science of cycles, with an emphasis on economic cycles and the financial markets.