Loading ...Hotel California
The current environment is best described from that line in the Eagle’s song, Hotel California. “You can check out, but you can’t leave.” We are in a window that could be as short as one month, or as long as 2-3 years.
Since it is impossible to be sure how long it will take, one needs to err on the side of caution and prudence. Given that one can always sell small amounts of physical bullion if one needs extra fiat for a major expense or purchase, prudence dictates keeping only enough fiat to cover monthly expenses and splurges.
We know from history and recent trends that the decline in fiat(rise in bullion prices) accelerates as a fiat currency approaches it’s termination phase. I believe we are there for the dollar and all Western currencies. One month, to 2-3 years. I lean towards somewhere between one to nine months.
Better to be a year too early, than even one minute, too late!
It took Argentina a looooong 10 years+
Zimbabwe is still screwing around.
Venezuela = another 10 years+++
Your projected time frame is seriously flawed. We have a very long ways to go.
Your mistake, is that none of those were the global reserve currency. Their citizens and corporations have had devastating financial consequences, but the rest of the world could care less. The dollar being the reserve currency and the recent steps to devalue it and accelerate the rest of the world dumping the dollar and US treasuries and moving into gold, is not going to take very much longer to play out.