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204 Comments
- pleiadianagenda, on 03/21/2008, -13/+64America's dollar has been in decline since 1013, with the Federal Reserve and the implementation of the IRS.
It's simple folks. The Federal Reserve isn't even federal. Its private money from families like the Rothschilds and Rockefellars (no different than the DeMedici family in Italy during the Renaissance.)
These private families lend govts money, and expect not only to be paid back, with interest, but expect the govt to pass legislation the banker families want.
But the joke gets worse. These families don't even back their money with gold. They make trillions out of thin air, and expect tangible assets in return; resources, property; our fealty.
This country, under constitutional law, has the right to create its OWN money. We used to. A few times in our nations history, we have. Since 1913 all that financial sovereignty has passed.
Lock up every banking family for fleecing the human race, and you watch how fast we become a prosperous and successful species. - laserblazer, on 03/21/2008, -23/+69Feel free to thank Nixon for taking the U.S. off of the Gold Standard and the treasonous Republicrats for decades of systematically selling America down the river.
- huckabee, on 03/21/2008, -3/+44This is terrible news, of course, but on a lighter note, check out the end of the URL for the article.
- eclectro, on 03/21/2008, -6/+31I'm not saying that we don't have problems with the dollar. But the summary speaks for itself. It was "last week* and investors are fickle. A week is an eternity in investing time. If an investor sees an opportunity, he will go after it. Since last week, gold has had a major correction, and commodities have taken a dive. I don't think that the problems are over, but saying that there is a systematic dumping might be inaccurate.
- inactive, on 03/21/2008, -6/+24That's a joke, right?
- lilricky, on 03/21/2008, -15/+33Anyone notice that all these "the dollar is worthless" stories are coming from the same 5 people?
- SpaceMonkeyZero, on 03/21/2008, -1/+15Top Diggers are ruining Digg
- inactive, on 03/21/2008, -1/+15 I love this quote.
"We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed."
That makes it sound like this was all an accident and not an intentional plundering of a country by malicious and greedy bankers. - Tess101, on 03/21/2008, -1/+14Mike17032, you are wrong. Ron Paul has been telling America about this mess for over 30 years, do some research on Ron Paul instead of saying something you have no idea about. The man is a former Air Force flight surgeon, a long time doctor, and has been in Congress for several years, do the research, before you spout off again. Ron Paul truly makes sense for our Country, and still believes in the Constitution of the United States, by the way, have you ever read it yourself? Probably not.
- inactive, on 03/21/2008, -4/+16The problem is the Fed is private and not state owned. This allows far too much power to arrive into the very hands that will "steal" every dime they can get..
- Meekus, on 03/21/2008, -2/+14As long as we elect people who know nothing about the economy, this situation will get worse. The very annoying part for me, is that it doesn't need to be like this. It IS fixable. But the only people who know what to do are the same ones getting shunned.
- mOdQuArK, on 03/21/2008, -0/+11Article I, Section 10, Clause 1 states that: “No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.”
No amendments have passed which override this clause. - jsmith39, on 03/21/2008, -7/+18Thank you King George for accomplishing in a few short years what our enemies could have never accomplished on thier own.
- Waiting2awake, on 03/21/2008, -2/+12 Ok, see if this makes sense. You buy a bucnh of ***** you don't need, can't afford, etc, etc, etc. Do you see the problem right away? Nope. There isn't even mention of it for the first 30 days, a whimper over 60 days, some concern at 90 and "HOLY F'n *****! I'm screwed" at 120.
People have been warning America over the last few months(Years) but that was always met with cries that those people were jelous of America, hated America, couldn't understand America, etc, etc, etc....
Please don't think this is a new thing - this will take years to fix, because it was years in the making. By both sides of the Isle, but this current Admin takes its' incompetency more seriously than most. - keltin, on 03/21/2008, -3/+1310 or 19, it doan matter. Your comments are accurate, otherwise, and very correct in the acts and intent of the Federal Reserve. It would be very cathartic to line up those responsible and knock them over, letting the real US get back in charge of our own money.
- inactive, on 03/21/2008, -2/+12 I'm also concerned that only 5 brave people are worried about this state of affairs, you're right, the stories on our banking system should be much more widespread.
- Number23, on 03/21/2008, -0/+9Um, no. Simply put the world values the island of Manhattan and its robust economic growth more than all the gold in the world.
- inactive, on 03/21/2008, -5/+14I blame the other guy who was in charge for the last 7 years.
- flannelback, on 03/21/2008, -0/+9Maybe it seems a bit too simple, but... We can't create national wealth by giving each other brain surgery or doing the laundry. Wealth comes from producing things. Otherwise, your wealth goes to people who do produce things. When the factories close, we get poorer, regardless of what the multinationals tell us.
- SpaceMonkeyZero, on 03/21/2008, -0/+8No inflation with the Gold Standard? You're kidding right? Why would I want the price of milk to be tied to the cost of Gold today. Wow, today Milk is 1/400 of an ounce of gold per gallon, but yesterday it was 1/425!
- keltin, on 03/21/2008, -4/+12It makes you wonder if this 'global contagion' has been spread to help facilitate the development of regional and global political structures, such as the North American union, the EU and groupings in other areas.
If people aren't confident in their own currency, and that their jobs have moved to some other area, doesn't it make sense that a regional v. national approach to an economic unit would be more acceptable to people? It would be pointed out to peole that even though the US doesn't allow drilling in our continental shelf, or Alaska or...many other areas, Mexico has lots of oil and they allow drilling in the Gulfs of California and Mexico, so let's merge with them as an economic unit"Of course we'll maintain sovereignty, but look how stable we'll become, having partners with lots of gas and oil (can include Canada on this too).
You can also point out that Mexico has some of the auto manufacturing plants that used to be in the US, as well as some of the manufacturies for clothes, shoes, furniture, etc. "Doesn't it make sense for us to merge with them as a unit so that our new currency - let's call it an Amero - will be much more stable than that rotten old dollar that we undermined until there was no worth left?"
Sorry if it sounds to conspiracy-theory to you-all, but the events of the last couple of years in the financial and political areas tend to tie together when you look at them as a whole and not little pieces of different parts. - Number23, on 03/21/2008, -15/+23You know there isn’t enough gold in the world to buy Manhattan, right?
You know that NO COUNTRY, NOT ONE, operates on a gold standard, right?
You know that the EU has a HIGHER debt burden than the US, right?
Dolt. - keltin, on 03/21/2008, -0/+8Let me see. If I had a few billion in dollars and had the chance to buy part of the 'newest' auction, would I? Not on your life. My money would go somewhere else that had a better rate of return and more 'oomph' behind it.
- Beto0707, on 03/21/2008, -1/+9No... Care to name them?
- hokie47, on 03/21/2008, -4/+12For the last time we are better for going off the gold standard. We should not run our economy like some War Craft game where your worth is the amount of gold you can mine. What we should do is only be allowed to run a deficit budget in time of a real war declared by congress. Also, we need to stop with the bail outs.
- ColonelJessup, on 03/21/2008, -12/+20Here we go again with the Digg.com economic professors...................................
- SzaszMan, on 03/21/2008, -0/+8There's a really simple reason why Washington seems to be almost deliberately choosing to inflate the US currency - we have staggering federal debt. Inflation, of course, is an easy way to decrease one's debt without having to pay anything back. Unfortunately, everyone else gets economically ***** in the process, but that's not a concern of the people who are sending the dollar downhill.
- inactive, on 03/21/2008, -1/+9 To blame Nixon for this mess is about as shallow an outlook that you can possibly have. This all relates back to the Federal Reserve system of debt based unbacked currency. America is an elaborate Ponzi scheme. Any study of our economy that refuses to acknowledge this is utterly worthless.
- pleiadianagenda, on 03/21/2008, -1/+9Well, you said it. "Sovereignty". That's the issue. And globalism can go two ways. Into one world dictatorship, or individual sovereignty. I prefer individual sovereignty. Sadly, most globalists want earth to be a corporate monopoly.
The only way globalism could ever work out for the masses is for the masses to take back the helm, to introduce honest govt that is for the people and by the people, and out of the hands of the corrupt govts that are plaguing this planet, including what America has sadly turned into. - pleiadianagenda, on 03/21/2008, -1/+8Yeah, a sad state of affairs........... ;)
- Number23, on 03/21/2008, -2/+9A gold standard is unsustainable. Were we on a gold stand the economy would be face with crippling deflation which would stop the economy cold.
Deflation is ALWAYS worse the inflation, since people will but off buying today what will be cheaper tomorrow. - knupso, on 03/21/2008, -0/+7Yep it's not just the Dem' and not just the Repub's They both sold us out.
- Buavesy, on 03/21/2008, -1/+8Very true. Republican or Democrat it doesn't matter. McCain, who has no clue about economics, wants to stay in Iraq which means funding for the war continues. Obama and Hillary, who wish to continue this welfare state of ours, want to pull out of Iraq, bit they want Universal Health Care for the US. Until we stop our futile spending this is problem is only going to get worse. I would say Ron Paul is the only candidate with some sense that government spending needs to be cut significantly. However, as you said this is extremely annoying because the media shows only whom they wish to elect.
- laserblazer, on 03/21/2008, -2/+9A hyperinflationary economy is the inevitable result of the plundering that America has suffered. History is replete with examples of this, right up to modern times. By the time this is all over, you won't be able to buy a wheelbarrow to hold the cash you'd need to buy a wheelbarrow.
- ivandir, on 03/21/2008, -3/+10And I suppose you are an Obamatard?
- inactive, on 03/21/2008, -2/+9Economic war is far more appealing to some nations than military war. When it was a convenient investment the dollar was just another portable currency. But we've been warned by a number of scholars over the years that a large-scale currency dump when we're at our weakest would not only make sense for those foreign investors, but it would also be a way to attack and weaken the United States. These nations have been waiting for their opportunity for a few years now and this bailout was the perfect time. Allies would be making a point of how they're holding on to those investments to help America through a rough patch, but we don't have any allies. Hopefully this will help people understand that.
- inactive, on 03/21/2008, -1/+8Ah, apparently you don't know the Secret History of the United States. This was a Roman outpost and has been the proving ground for the New Roman World Order (often shortened to New World Order for the sake of convenience). The Centurians can come out of hiding now...
- SzaszMan, on 03/21/2008, -1/+7Yes, under the Federal Reserve System (e.g., a central banking system) we do have inflation (which, in small doses, is a good thing for the economy). But on the other hand, under the Gold Standard, the US Federal Government wouldn't be able to rack up enormous amounts of debt from a willing central banking partner and then proceed to inflate it's way out of debt at their gain, and everyone else's expense. We are now in the process of getting collectively economically butt-***** exactly like the Germans just prior to the Weimar government collapsing (and just prior to Hitler taking power, BTW).
- inactive, on 03/21/2008, -5/+11What are they going to buy? US equities of course. Commodity prices are plummeting. The mortgage market is gone for years. The falling dollar has been a game of economic chicken between the US and its trading partners who run huge trade deficits. The falling dollar provides a windfall for the American consumer and squeezes importers. But with the US economy slowing, the commodity bubble is bursting and the dollar will rise. For the moment it looks like Bernanke is making the right moves.
- DeadFox1, on 03/21/2008, -0/+6Credibilty regained.
- jebsilver, on 03/21/2008, -1/+7Sure. It shows me that 5 people finally woke up. Now it's your turn.
- inactive, on 03/21/2008, -2/+8don't know why you're getting dugg down for being an optimist. I for one hope you're right.
- sponeil, on 03/21/2008, -0/+6I agree with some of your comments, but not this one:
"What we should do is only be allowed to run a deficit budget in time of a real war declared by congress."
Bush/Cheney got Congress to declare a "War on Terror". Like the "War on Drugs", it will never be over, and it gives Bush permanent wartime powers and a blank check for deficit spending. That was how he got around the balanced budget amendment, and several other things that were in his way. - synthpop, on 03/21/2008, -0/+6the world has been slowly and quietly decoupling itself from the dollar. it has to be done on tiptoes so as not to disturb the fragile house of cards. so basically when (not if) the dollar goes down its true that the world goes down as well, but other nations will have a quick recovery in comparison to a very long and painful recovery for the US. with American manufacturing almost non existent, what can the US sell to the world besides green paper with numbers on it?
- inactive, on 03/21/2008, -3/+8Well if we go down then the whole world gets dragged with us. It'll be a fun ride to the bottom then we can all get back to work rebuilding a better economy. Hopefully we'll have some better rules in place to keep this from happening again or if we survive mostly intact we'll need some new rules and rope for the greedy bastards that started this slide.
- Waiting2awake, on 03/21/2008, -3/+8Don't know why you are getting dugg down. Is there anyone that wishes to debate the point that both parties in America have screwed over the American people to aid their own piticular "interest groups"?
- Jesterman81, on 03/21/2008, -8/+13I believe most Democrats also voted for the war. Don't say Obama didn't either because he just didn't vote! Wake up and realize both parties have sold you down the river.
- inactive, on 03/21/2008, -0/+5The poster added that as a joke. http://www.telegraph.co.uk/money/main.jhtml?xml=/m ... works just fine
- inactive, on 03/21/2008, -1/+6 If we were on the gold standard the price would rise so that there would be enough gold to able to purchase Manhattan. Anyone who doesn't understand that should be lurking more and posting less.
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