Governments will be forced to devalue their currencies in desperate attempt to offset debt burden
Paul Joseph Watson
Tuesday, March 16, 2010
Top ratings agency Moody’s has predicted that the U.S. and the UK could witness similar riots to those seen in Greece in response to emergency austerity measures imposed by governments in an effort to retain their AAA credit status.
“Growth alone will not resolve an increasingly complicated debt equation. Preserving debt affordability at levels consistent with AAA ratings will invariably require fiscal adjustments of a magnitude that, in some cases, will test social cohesion,” said Pierre Cailleteau, the chief author of the report.
Soaring debt costs will undoubtedly force governments to continue to devalue their currencies in a desperate attempt to reduce the burden.
This will inevitably result in runaway inflation that will devastate the value of major currencies and eviscerate savings and pensions. The cost of living will accelerate and taxes will be raised as the people continue to foot the bill for a wealth transfer amounting to trillions that has been plundered by the offshore banking elite.
The only way to protect yourself against this approaching financial tsunami is by swapping crumbling paper money for gold bullion, which has proven to be a safe store of wealth for thousands of years.
We were laughed at for urging people to buy gold to protect their savings when it was at a mere $300 and the world was drunk on the illusion that the stock market bubble would continue to inflate without a crash. Whereas the Dow Jones has returned to its level of a decade ago at just above 10,000, gold has quadrupled in value in that same period.
With currencies being attacked from every angle as the financial recovery grinds to a halt due to governments being forced to impose austerity measures, we continue to invite people to take a positive step in countering the continuous assault on their wealth by the central banks by repositioning a sensible portion of their savings into physical gold bullion.
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This article was posted: Tuesday, March 16, 2010 at 6:47 am