Treasury Secretary Timothy Geithner announced today that China has expressed confidence in the United States dollar. The announcement was praised as great news for the United States and it certainly is. However, think about the consequences of this statement and the fact it holds so much importance.
Geithner is in China attempting to soothe the ever growing Chinese fears about our economy. Failing to understand the possible consequences of the need for Geithner's visit is failing to understand the situation we are spiraling into in.
For those that do understand, this is yet another red, glaring warning light concerning the condition of this nation's economy. As individual investors it is becoming ever more critical to re-think our portfolios and honestly, holdings in this nation.
It is time for the common man to build up silver reserves. Silver is cheap and available. The one set back is price, which is racing upwards. But by becoming a bargain shopper, deals can be found by any potential buyer.
The prudent move is to now start looking for those deals and start turning the weak dollar into a tangible item with a tangible value.
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