Global News

Monday September 06, 2010

Shaved?

The second shoe is yet to drop! Or could I say that the last 4% has yet to fade away. Since the Federal Reserve was unconstitutionally established to protect that US$ (1913), it has lost more than 96% of the value. One hell of a great job wouldn't you say? So, will we shed the remaining 4% by ending the US$ and moving to another currency very soon? 

That the US$ is toast and going out of style as the currency of the international realm is a fact. How long before it is traded in on some new currency is speculative. Let's not go there currently.

A recent Gallup Poll has showed that the Federal Reserve is even more disliked than the IRS. Now that is rubbing salt in an open wound. Worse yet, since the US$ was no longer backed by anything real (can you say the gold standard?), then what is backing the US$ other than the lack of credibility of the Fed generally? America is so deep in debt it cannot recover.

Does anyone think that the rest of the world believes that we'll reign in our wild spending when after spending .4 TRILLION more than we had in the latest fiscal year, we're pushing ahead with a healthcare plan that will add another TRILLION to that number. And Congress wants another stimulus plan. And Obama wants to buy some senior votes with a 0 pay check. Who do we think we are kidding?

And Ben Bernanke says he's not concerned about INFLATION? Such deception or stupidity surely can't be believed!

As Richard Maybury wrote in his October issue, "Mal-investment created by fiat money must be shaken out of the marketplace and a trustworthy currency replacing the US$." While I agree with the premise, we're still talking about whatever new currency replaces the US$ being overseen and manipulated by politicians and a central government that has a thirst for power, greed, and status that can't be satisfied. In other words, changing suits isn't going to change the person. And it is we the people who suffer.

The politicians continue to live high on the hog.

Ron Paul from committee floor. House Financial Services Committee. Bernanke present, but not in this video. Dated 2/17/2007 C-SPAN Google Video version: video.google.com Here is the FULL committee meeting with Bernanke: video.google.com and here is a mirror for the FULL version: www.guba.com And here is a supplemental World Bank meeting: video.google.com And Dana Rohrabacher talking about stuff: video.google.com And Rons Patriotism speech: video.google.com Video Rating: 4 / 5