I’m responding to the article on Dec. 17, “Red Alert Markets. Russian ruble collapses, sending ripples worldwide.”

This article pointed out how Russia printed too much of its currency and now the ruble is devastated. Because of declining global oil prices, Russia has lost the key for balancing its budget. The article also pointed out how it took 72 rubles to equal one U.S. dollar. This is how a nation can go into an economic downturn in a very short time.

If Russia can print too much of its currency and experience this, so too can America. Even through China also has been printing a lot of its currency, it has a backup plan. China has been on a mission to acquire much of the world’s gold supply, gold exchanges and gold mines. It could use this gold to back a new currency and make a bid to replace the U.S. dollar as the world’s reserve currency. If that happens, then something similar to what’s occurring in Russia could happen to America.

Even though it is under different circumstances, the results would be on the same level. That is, it may take 72 future U.S. dollars to purchase what can be bought now for a single dollar.

In conclusion, now is a great time to purchase the products you will need in the future. Unless you’re planning on using precious metals, you might not be able to afford them using U.S. currency. Business is war, and what other countries cannot do with their military, they can do with currency to devastate a country.

Douglas Papa

Hallowell

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