James Turk Zurich Conference 17 Nov 2009

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Preparing for theCollapse of the Dollar

James Turk17 November 2009

Zurich, Sw itzerland

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The US dollar & euro this decade

US Dollar Debasement (Base of 100)January 3, 2000 through November 13, 2009

00 01 02 03 04 05 06 07 08 09 1025

35

50

75

100

120

Log Scale

USD Against Gold

USD Against EUREUR Against Gold



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The US dollar’s problem

Federal Tax Receipts Tumble & Outlays/Debt SoarJanuary 2000 - October 2009 (US dollars in billions)

00 01 02 03 04 05 06 07 08 09 10100

150

200

250

300

350

4,000

6,000

8,000

10,000

12,000

Federal Debt, quarterly - right scale

Outlays (12-mon. mov.avg.) - left scale

Receipts (12-mon. mov.avg.) - left scale

Log scales




One of the best performing asset classes

Gold % Annual Change

4.8%13.1%16.7%13.7%11.3%17.8%4.0%-8.7%17.7%

10 mos.

to Oct-09

17.1%10.6%13.6%16.8%10.8%13.5%13.6%13.3%16.3%8-Year

Average

44.3%0.2%-14.9%30.4%11.9%-1.1%32.4%32.5%5.8%200829.2%21.5%24.7%17.5%17.9%23.0%10.4%18.6%31.4%2007

7.8%13.9%24.0%20.5%10.2%18.8%22.8%14.4%22.8%2006

31.8%36.2%35.7%22.8%35.1%15.2%14.5%25.6%18.2%2005-2.0%-3.0%0.9%-0.0%-2.1%5.2%-2.0%1.4%5.2%2004

7.9%7.0%7.9%13.5%-0.5%19.5%-2.2%-10.5%19.6%2003

12.7%3.9%13.0%24.0%5.9%24.8%23.7%13.5%24.7%2002

5.4%5.0%17.4%5.8%8.1%2.5%8.8%11.3%2.5%2001

GBPCHFJPYINREURCNYCADAUDUSD




Gold is money

Crude Oil Prices (Base of 100)January 1950 through October 2009

50 55 60 65 70 75 80 85 90 95 00 05 100

2000

4000

6000

8000

British pound

US dollar

euro

goldgram




Portfolio composition

Liquidity

Investments

(wealth producing assets)

(wealth preserving assets)

100%

0

50%Units ofWealth




The boom – bust cycle

Dow Jones Industrials in GoldDecember 1913 through October 2009

15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 00 05 10

50

100

200

500

1000

1

2

5

10

20

3040

Log Scale

goldgrams ounces

DJIA expensive / gold cheap

DJIA cheap / gold expensive



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“The U.S. government has a

technology, called a printingpress (or today, its electronic

equivalent), that allows it toproduce as many U.S. dollars

as it wishes at no cost.”Federal Reserve Chairman Ben Bernanke

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1)Gold price is rising2)Oil/ commodities rising

3)Negative real interest rates4)Blind faith in central banks

5)Stock market rising

6)Runaway gov’t spending

7)Demand for currency falling

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€$

The outlook for hyperinflation



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[email protected]

www.goldmoney.com

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James Turk Zurich Conference 17 Nov 2009