Schultz doesn't give a source as near as I can tell. Its possibly a tip from one of his subscribers. He's really been "dissed" for reporting
Most of the web that that's picked it up aren't particularly reliable. You know the type!
While it is normal for embassies to have reserves of local currency, stockpiling it would not be normal. This implies a differential devaluing of the
dollar. Don't expect other major currencies to fare much better, though. If the rumors are true, it gives us some idea of the timeline for all
this to settle out and an new international currency to take effect.
Still there are some things to consider:
- US bank capitalization under the stress test was based on economic data that is already overly optimistic.
- The Fed is quietly gaming the markets. Foreigners have cut way back on purchase of treasuries, but it appears the Fed is buying them up, keeping
interest rates temporarily low. It can't continue long.
- The Fed's policies caused the problem(maybe merely delayed the inevitable), timed the October crisis, and will likely precipitate the collapse. If
it is impossible to prevent, they will attempt to time it to the elites advantage. Does this include chaos at this time?
- Real Estate is far from a bottom. Commercial has just begun to blow.
- We are going to see a wave of small business failures.
- Credit card defaults parallel unemployment. This will produce a fresh area
for bank stress.
- All in all we are more and more likely to see an overnight collapse of the dollar. So get out of cash.
I expect fairly quick International action, possibly IMF International Currency. Sort of preplanned...
Expect draconian security measures and crackdown on dissent. This is likely the result of MSM manipulation. Suddenly they will report on government
corruption etc that they have been white washing. A lot of people will suddenly wake up - hungry and pissed!
A lot of government officials will get in trouble, but this will be appeasement. A lot of elite insiders will suddenly find themselves in
trouble(like in the French Revolution)
The emphasis will be on economic recovery with every body getting somewhat screwed, but given enough hope to go back to work.
We are likely to see some kind of MSM supported "Spiritual Solution" that will be manipulation and demagoguery.
What to do?
Get out of paper money.
Buy old silver coins.
Buy food, survival stuff. Stock pile tradable items. Extra weapons and ammo will be as much valued as trade items as self defense.
You might want to report your guns stolen. Get your buddy to clean you out...
Study what happened in Argentina if you want to find out what we are really likely to face.