Steve Forbes encapsulates the necessity for a sound, stable US dollar.
The only viable alternative is gold backed money.
The current monetary system is a sham, fiat money has no value, merely a means to facilitate wealth accumulation.
Conversely, gold and silver are the only de facto money.
He cites the exponential rise of prosperity in the US under the gold standard and the subsequent erosion of influence under the current fiat experiment, which resulted in an $8 trillion dollar reduction in the national living standard.
Nevertheless, a gold backed dollar could be established in less than one year - please listen to the show for the entire plan.
"When people stop trusting their money, they stop trusting each other."
The profound notion is illustrated by the undermining of the social fabric within domestic / global society.
Jim Rogers' Summary:
Jim Rogers wrote of the Swiss currency swoon 2 years in advance
The financial legend warns that central bankers are ill prepared to manage the highly complex markets
Printing mountains of currency merely increases the debt burden to current / future generations.
Even gold bears require gold and silver portfolio insurance amid increasing market volatility.
Jim Rogers recently added gold mining companies to his portfolio.
The crude oil implosion may be presenting a investment opportunity
The super-investor is also watching Russia, China, Japan and the agricultural sector for investment opportunities.
Jim Rogers is the author of Adventure Capitalist: The Ultimate Road Trip and Investment Biker: On the Road with Jim Rogers. He is an investor who has been chronicled in Jon Trainís Money Masters of Our Time, Jack Schwagerís Market Wizards, and other books. He has been frequently featured in Time, The Washington Post, The New York Times, Barronís, Forbes, Fortune, The Wall Street Journal, The Financial Times, and most publications dealing with the economy or finance. He has also appeared as a regular commentator and columnist in various media and has been a visiting professor.
Steve Forbes is President and Chief Executive Officer of Forbes and Editor-in-Chief of Forbes magazine. Since Mr. Forbes assumed his position in 1990, the company has launched a variety of new publications and businesses. They include: Forbes FYI, the irreverent lifestyle supplement; Forbes Global, the magazine's international publication; and Chinese, Korean, Japanese, Brazilian, Russian, Arabic and Hebrew editions of the magazine. Forbes also publishes the Gilder Technology Report, as well as a number of investment newsletters.
In 1997 Forbes entered the new media arena with the launch of Forbes.com. The site now attracts over seven million unique visitors a month and has become the leading destination site for business decision-makers and investors.
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