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Michael Fitzsimmons
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I focus on investments in the oil & gas sector with an eye for dividend income and long-term capital appreciation. I typically allocate a portion of my own portfolio and devote some of my Seeking Alpha articles to small and medium sized companies offering compelling risk/reward propositions.... More
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Independent Investor
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The Fitzman
  • days numbered for US dollar as world's reserve currency? 0 comments
    Jun 7, 2009 10:26 PM

    this is interesting:

    http://www.reuters.com...

    i am beginning to think there is not a damn thing the US can do to prevent the world from moving away from the US dollar as the world's reserve currency. i keep reading how various countries are agreeing to trade in yuan or euros or yen or whatever. i am also seeing every major emerging market (china, brazil, russia, india) ask for a non-single country currency and seeing ever germany and other european countries publicly denounce US federal reserve action.

    foreign oil addiction, deficits, and losing reserve currency status (i.e. debt financing) - those are some serious problems individually...let along together. what can a US citizen do but:

    a) buy gold

    b) pull a jim rogers and move out of the country

    c) do both

    question is: what country can you move to and can you get your gold out of the country?

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