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FRIGHTENED INVESTORS MAKING DANGEROUS MISTAKE: “Seeking Safety in Dollars is like seeking shelter from bear market in a bear cave”
Fearful investors have been fleeing from the stocks, real estate, and commodities such as oil because of economic instability in Europe, China, the Middle East and Washington, D.C.
“Investors are smart to seek a safe haven, because the global economy may be close to a meltdown, but many are making a dangerous mistake that is hazardous to their wealth,” two financial authors warn.
“Many are jumping from the frying pan into the fire by converting all their assets into U.S. Dollars,” say Lowell Ponte and Craig R. Smith, co-authors of the widely-praised recent books “The Inflation Deception: Six Ways Government Tricks Us...And Seven Ways to Stop It!” and “Crashing the Dollar: How to Survive a Global Currency Collapse.”
“This is a huge mistake because the once-solid U.S. Dollar has become a flimsy shelter made only of paper,” says Ponte. “It's no longer the 'flight-to-safety' asset it used to be. The Dollar is being manipulated, losing value and at risk of crashing.”
“The U.S. Government printed more than $5 Trillion dollars out of thin air to paper over reckless political spending during the past three years,” says Smith, a 30-year monetary expert.
“The Federal Reserve has already signaled that it's ready to magically conjure trillions more. And every dollar they print makes the dollars you earn and save worth less. To paraphrase President Ronald Reagan, the Dollar isn't a safe haven from today's risky economic problems. The weakening Dollar IS today's biggest economic problem,” says Ponte, a former think tank futurist.
“Food and gasoline prices have been rising,” says Ponte, “largely not because these things have been gaining value – but because the Dollar is losing value. And the Great Recession has been caused by this and other reactions to our weakening dollar, as economic historian Brian Domitrovic has shown.”
“The economy now has people so afraid and uncertain that many are seeking shelter from today's Bear market in the bear's cave by converting their assets into Dollars, which the politicians can debase by printing trillions out of thin air,” says Ponte.
“Instead, we should be seeking safety by diversification by buying solid things that the Fed and the politicians can't print, and therefore can't devalue as they have the U.S. Dollar. This is how to protect the purchasing power you've earned.”
Craig Smith and Lowell Ponte are available for interviews to explain these and other economic ideas.
Nicholas Larkin, “Gold Bulls Weakest in Month as Investors Buy Dollar,” Bloomberg, May 11, 2012. URL: http://www.bloomberg.com/news/2012-05-10/gold-bulls-weakest-in-month-as-investors-buy-dollar.html
Brian Domitrovic, “The Weak Dollar Caused the Great Recession,” Forbes Magazine, March 13, 2012. URL: http://www.forbes.com/forbes/2012/0507/capital-flows-crisis-weak-dollar-great-recession.html
Suggested Interview Questions:
1. Fearful investors have been fleeing from stocks, real estate and other things and converting their assets into U.S. Dollars. You say this is a huge mistake. Why?
2. You say the Dollar is being manipulated, losing value and could crash. How much value has the Dollar lost, and why?
3. You say that the economic problems of the Great Recession have been caused by a weak dollar. How do you come to this surprising conclusion?
4. We've heard this term “fiat money” applied to our paper dollar. What does this mean, and why should it concern us?
5. Is there a way to fix and strengthen the Dollar? And why haven't our politicians already done this?
6. If we can't trust in the U.S. Dollar, backed by the “full faith and credit” of our politicians, what can we believe in? Where should we place our trust instead?
7. How can people hearing us today protect themselves and their families from a bad economy and the weakening dollar?
ABOUT LOWELL PONTE…
Lowell Ponte (PON-tee) is a former think tank futurist and was an editor Reader's Digest Magazine for many years during its heyday when it was one of the most widely read publications in the world. Lowell is co-author with of The Inflation Deception: 6 Ways Government Tricks Us… and 7 Ways to Stop It! (2011), and Crashing The Dollar: How to Survive a Global Currency Collapse (2010). Ponte’s articles have appeared in The Wall Street Journal, The New York Times, and many other publications. He is currently a columnist at Newsmax.com. Lowell has been a guest on "The Today Show," "Good Morning America," "David Letterman" and other programs. Lowell has also been an aide in the California legislature, a reporter in Washington, D.C., a foreign correspondent reporting from 33 countries, co-partner in a successful Hollywood public relations firm, and a radio talk show host.
ABOUT CRAIG SMITH…
“The Face of American Small Business”
Craig R. Smith is an author, commentator and popular media guest because he instantly engages audiences with his common-sense analyses of local, national and global trends.
The Founder and Chairman of Swiss America Trading Corporation, Craig for 30 years has helped many thousands of people hedge against the problems of a weakening U.S. Dollar.
A monetary expert, Craig is the author of numerous books and articles including The Inflation Deception: Six Ways Government Tricks Us...and Seven Ways to Stop It! (June 2011), and Crashing The Dollar: How to Survive a Global Currency Collapse (2010).
Craig is also author of The Uses of Inflation: Monetary Policy and Governance in the 21st Century, a major White Paper published in February 2011. Recent media clips: www.craigsmith.com
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