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Cashout while you can!

by Lee Watkinson |  Published: Oct 08, '09

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We are all playing in home game where the host is a super live one! He splashes the pots and we all love it almost everyone has been winning and everyone has been having a great time. The problem is he is also the banker and thinks nothing of going and getting another rack of chips even though he dosent put up any cash.
The US government is the host of our game, our dollars are the chips.
The government prints money whenever it needs to pay for something, like a war or a bailout. There is nothing behind the US dollar(or any other fiat currency). Politicians throughout history have used currency debasement as a hidden tax and every fiat currency has gone out worthless. So will the dollar.
This week there have been rumors that oil producers are going to stop accepting dollars for settlement, which has sent gold to all time record highs.
If you are a winning player don’t get stuck holding the bad chips, cashout early!
No other currency is safe either though, not british sterling to be sure. Buy real things with your money. Gold is one good option. You can buy gold and silver etf’s on the stock exchange, but there is some question as to how safe they will be if the dollar totally collapses, which it will eventually.
This game might keep going a little while. The big winners have figured out whats going on(China for one), and are trying to figure out how to quietly cash in as many of there bad chips as possible before the game ends and noone gets paid. The host isn’t going to redeem all there chips and he’s a big powerfull mafia type guy who isn’t about to sell his house to pay off the chips.
Who knows China might move the game to his house next.
Seriously though don’t keep your assets in dollars, T-bills, ect…guaranteed big time inflation on the way, soon. The Federal Reserve isn’t even part of the government, did you know that, it’s a bank.

Lee Watkinson has accumulated nearly $4 million in tournament winnings over his career. His accomplishments include a World Series bracelet in the 2006 $10,000 pot-limit Omaha event and an eighth-place finish in the 2007 WSOP main event. Lee is a Full Tilt Pro and uses his poker winnings to help a chimpanzee rescue charity. Learn more about Lee at his website, www.leewatkinson.com.

 
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