As you’ve probably already seen, this video went viral yesterday. What strikes me as most interesting is his choice of words paraphrasing the Boston tea party: “We are thinking about having a Chicago Tea Pary in July” and dumping “derivative securities in lake Michigan”! Even if this is on a humor note, it still is an interesting example of what might happen if the US Dollar continues on its road to hyperinflation.
Economic Collapse
The Economic Paradigm shift explained – A Look into the Future
I wrote only 9 days ago that gold priced in Swedish currency hit all time high of 265.000 SEK/Kg. Today on the 20th of Feburary 2009 gold broke through 300.000 SEK/Kg. That’s quite a jump in only 9 days as the SEK falls hand over fist in EUR and USD terms. This is a very good example of why you need to be invested in gold: it is the perfect insurance against debasement of a fiat paper currency.
A short report from Sweden… The central bank, The Riksbanken, lowered its main interest rate from 2.0 to 1.0 percent today hitting its lowest rate ever. The prime minister and the minister of finance urged people with mortgages to “put pressure” on banks to lower rates for homeowner - “because nobody else will”. At the same time the Swedish Krona lost positions against USD and EUR as Gold rises in USD terms. Gold is now at 265.000 SEK/Kg - all time high…
I’m not a Fox News fan, but this little video is really good. They hit the nail on the head:
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Johnny Mellgren is a Swedish entrepreneur with a keen interest in macro economics and macro politics. This is his web site where he blogs about the economic collapse of our time, what to do about it and the economic future we create together. Contact Johnny Mellgren.
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I provide advice on investment portfolios for private and corporate clients. I also hold lectures in the history of money and the current economic collapse and how to protect your wealth in a time of transition.