New YorK, NY -- (SBWire) -- 06/11/2012 --Economic forecasters predict more quantitative easing by the federal reserve. With the recent $868 billion stimulus package that ultimately did not boost the economy as anticipated, but only created a sideways movement, has investors wondering if the Federal Reserve will turn up the printing presses yet again. Experts such as the late Bob Chapman, who passed away on June 4th, believed that we will see another round of money printing in the near future by the federal reserve, which can result in a further debasement in the United States dollar. Veteran gold and silver trader, Jim Sinclair is also forecasting QE3, money printing by the Fed. Experts such as Jim Rogers predicts a continuation in the reversal in gold prices, but ultimately remains bullish on his long term gold prices. Jim Rogers states “If gold prices fall to $1300 I hope I am smart enough to buy more.”

Forecaster, Bob Chapman, was one of the foremost experts on the economy and precious metals. Bob passed away on June 4th from pancreatic cancer. We will surely miss his assistance in helping all of us prepare for the coming crisis. We will remember Bob Chapman as one of those people who made a difference in the lives of others, a true humanitarian and a hero. We send our condolences to his family. For anyone that wishes to prepare for the coming economic storm, it would be worthwhile to view videos from Bob's radio interviews over the last several months. Bob's legacy and the imprint he left on society will be felt for decades by the people he guided to financial safety.

Bob Chapman, who was known for his accurate predictions recommended investors move their money to safety. Bob recommended that people allocate a third of savings into precious metals, such as silver and gold non-numismatic bullion coins. He believed that by moving money into hard assets, an investor will be able to save the purchasing power of their dollar. By holding gold and silver this will prevent the loss of assets due to the depreciating fiat currency. Fiat currencies have an inverse relationship with precious metals. As the dollar is devalued, silver and gold prices increase. No currency has ever lasted more then eighty years and all currencies eventually meet their demise.

Recently both China and Japan have announced their move away from trading with the United States dollar. The U.S. Dollar has been used as the world's reserve currency since 1944 and that is why Americans have been able to afford a more lavish lifestyle than their third world nation counterparts. A world's reserve currency is a currency that is held in significant quantities by many governments. After World War II, the Breton Woods Agreement officially made the U.S. Dollar the world's reserve currency. Both Japan, China and other European countries intentionally debased their currencies so they could boost exports. As a result, most of the manufacturing in the U.S. has been moved overseas.

American's have become dependent on imports for their food and manufactured products such as appliances, clothing, autos and electronics. The move away from the U.S. Dollar may cause a collapse in the value of the dollar and will have a major economic impact on U.S. Companies as well as its citizens. Most U.S. companies rely on importations to operate their businesses. If you glance the labels in shopping centers, you will notice how many items are made in China. Most importantly, grocery stores also rely on importations of food, and the inability to import food products would result in empty shelves and major price increases.

The recent announcements from BRICS (Brazil, Russia, India & China) nations, as well as Japan, regarding their move away from the U.S. Dollar as their trading currency, will have a powerful impact on the way of life of American citizens. The move away from the U.S. Dollar as the world's reserve currency will decrease the value of the U.S. Dollar, and can lead to an ultimate collapse of the American currency. Most Americans have been conditioned to think that their lifestyles are guaranteed and have no idea of what is coming around the corner.

A similar situation occurred in the 1930's when the Wiemar Republic (formerly Germany) also had a currency crises. Before this currency crisis, the Wiemar Republic was thriving economically. It was when the government continued to print money, as if it was going out of style, that a currency crisis happened. A similar event is taking place inside the United States.

During the collapse of the currency in the Wiemar Republic the people did not know the collapse had happened until after they could not access their bank accounts. For several months people watched as the value of their dollar dropped and the price of bread eventually cost thousands of dollars. People were using their paper currency as fuel for their fireplaces, as their money was worthless. When the government finally worked to rectify the situation, the people in the Wiemar Republic were only given 10% of their assets back in the form of a new currency. According to experts the same situation could happen in the United States. And most of the American population is completely blind to what is occurring economically in the United States.

In one of Bob Chapman's final posts on his blog, he recommended that people buy Swiss Franc Treasuries and Canadian Dollar Treasuries, after purchasing silver and gold non-numismatic bullion coins. He also recommended gold and silver mining stocks.

Please visit http://goldpriceperounce247.com and sign up for our free report to find out which U.S. Banks allow foreign currency holdings in Canadian and Swiss Franc currencies. Get names of trusted gold dealers that were recommended by the late Bob Chapman, who's legacy will live on for generations to come.