A friend of mine writes:
They have a good reason to changing the tune somewhat. There are bank runs in Europe NOW, and in 1933 the US bank run was preceded by bank runs in Europe. So, if you have cash in the bank, it will be worthless once Obama declares a “bank holiday” and closes the banks. Also, whoever has cash during a bank holiday has buying power.
Later, in the long run, gold holds value if we enter a Weimer Republic era when the dollar loses value fast. Then gold will hold value and be a safe way to save value for the future.
This is what I assume is happening.
Of course, no one can really predict what is coming. During the 1920s through 30s Roosevelt did not reissue new money. That is something I suspect could happen this time, in which case, a person would have to cash in their cash on hand and take the new money. This could result in a devaluation of worth.
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