Get up off your butt, and go out and buy gold.
Silver and oil. Gold, silver, and oil. Accumulate as much as you can. Get rid of those no-good, Federal Reserve Notes, greenbacks, dollars. Buy gold, silver, and oil.
Numerous central banks, such as those of Russia, China, and most of the oil-producing nations in the Middle East, are lightening up on U.S. dollars (buying with dollars) and adding gold positions to the state vaults. Therefore this is the market saying currencies of the world are headed toward adopting a de facto “gold standard” for global trade, albeit with no overt cooperation from the central bankers of the planet.

The central bankers are facilitating the demise of the world’s key fiat currencies by rapidly expanding what they call the “money supply.” Excess creation of credit causes inflation in the prices of goods and services. This erodes the long-term value of the underlying currency, destroying the value of both saved and invested capital that is denominated in fiat currency. So the future of the world economy is one of monetary inflation and capital destruction.

Thus by permitting varying degrees of inflation to erode the long-term value of their respective currencies, the central bankers are cooperating, after a fashion, in the world economy moving back to a gold standard. Whereas gold is not just the oldest form of money known to mankind (excepting seashells and bear hides, perhaps), gold is downright pretty. Got gold? ( Continued )

The world economy is moving away from one of the fundamental tenets and economic assumptions of its past. Since the 1860s, the world’s collective sum of economic activity has benefited from the developed world’s continuing and assured access to relatively inexpensive supplies of oil. These oil supplies were based on an excess of industrial capacity to extract light, sweet petroleum from the crust of the Earth, whether in Texas or Saudi Arabia. Only wars and other very occasional, singular events, such as the Iranian Revolution of 1979 and 1980, interrupted the trend. The result is that the industrial plumbing, as well as the financial wiring of the global economy is tied to a rapidly vanishing legacy of available and relatively affordable oil.

The future will be one of accelerating transition to a world economy dominated by irreversible decline in volumes of conventional oil extracted from the Earth. Oil supplies of the future will be severely constrained and highly volatile, very expensive by historical standards, and see production and distribution of liquid fuels and related petrochemicals marked by chronic shortages. The ability of nations all over the world to maintain real, inflation-adjusted gross domestic products (GDPs) will be severely constrained by these impending energy shortages. The increased cost of energy across the board, and certainly for the energy contained within a useable barrel of oil, will drive up the rate of inflation.