InvestorMind

The US Dollar bills over the years. Notice that it used to say "in gold coins" or "in silver dollars" payable to the bearer upon demand. This note no longer says it's payable in gold or silver because because the US Dollar is no longer backed by gold but "secured by US bonds" deposited with the Treasurer of the United States of America. The new US Dollar does not even say "National Currency" anymore. It just says Federal Reserve Note.

The countdown to armadebtdon carries on and we are just 3 days away from the debt ceiling deadline. If a discussion is not reached will the US lose its AAA rating? The problem is we are not taking in enough revenue to continue spending like we are. Max Keiser of Keiser Report gives us his insight on what that means to the US.

This is interesting. PIMCO basically said it has no confidence in the US bond market because of the huge deficit which could lead to high inflation and weaker dollar. He even shorted Treasuries in March. The high price of oil, gold and silver pretty much confirms that the US Dollar is losing a lot of it value.