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Your Money is Worth Less Today than Yesterday — 2 Comments

  1. David Morgan writes in Morgan on Rocks and Stocks, “One of my themes in my newsletter a couple months ago was death of the dollar. And I don’t mean that the dollar is absolutely zero and it’s absolutely funny money, but what I do mean is that it ceases to be the reserve currency of the world. And once it loses that status, then it becomes nothing more than an internal currency where all our imported goods (which is almost everything we buy now—everything at Wal-Mart, for all practical intents and purposes) double in price. It is going to have a significant impact on us, and I believe very much that’s what we’re looking at over the next two years.

    Now there are still some deflationary forces out there and it will continue. It’s an odd mix this time around, meaning that everything we need is going to cost more and everything that is non-essential is probably going to fall in price. For instance, you need food, that’s going higher; you need energy, gasoline, and electricity, those are going higher. Almost all your commodities are needs—sugar, wheat, you name it—they’re only going higher, longer-term. Things you don’t really need are going to see price pressure.”

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