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The Dollar is in Critical Condition

I keep getting into arguments with friends who tell me that the condition of our nation is nothing like what happened in Germany before WWII, that our economy is stable and we have nothing to worry about. Then I catch some info like this. The clips below are parts I and II of a Max Kaiser report on the demise of the dollar.

The dollar is a fiat currency; it it not backed by gold or anything of real value. The US went off the gold standard in 1971. In the last 5 years the dollar has lost a THIRD of its value relative to other major world currencies. Around the world, countries are looking for a new reserve currency. The superpower status of the US is almost gone. The standard of living inside the US is on the top side of a free fall.

Interestingly enough, when the US constitution was framed, it was on the heels of the failure of a currency known as the Continental. It makes me wonder--is this an additional reason to look at Ron Paul as a possible leader for our survival of the impending crash? Has our national abnegation of our constitution led us into this situation? Has Ron Paul's lifetime of study on monetary policy yielded an understanding that would allow him to save us from ourselves?


( 4 comments — Leave a comment )
Jan. 17th, 2008 02:46 am (UTC)
I believe our country is headed for some difficult times. Recession, inflation- the words are mentioned every five minutes on the news, and not as a possibility; as a reality that is NOW. I know it, I feel it. It doesn't help that I'm unemployed in SF and now am in debt for a house and soon to be in debt for school loans, my husband being in the same boat. I am more than worried about the economy, and am curious to see how moving to bum *%#@ TX, where prices are at the level from 10 years ago, will affect me. I'm hoping that I'll be able to afford to live there better than anywhere else.
Our belief in our printed paper money boggles my mind- always has. Somebody explain to me how it got started!!!!
It's like belief in a religion- practically impossible to give cold hard truth of the existence, but easy to convince most people that it DOES exist based on faith.
Jan. 17th, 2008 03:29 am (UTC)
Well I'm glad you're at least aware. These are frightening times for those who see. My plan is to live in gratitude for every comfort as long as I have them! I especially love a hot shower every night. How sad it could be to give up our fine standard of living! But then, I suppose we can imagine ways of preparing that could keep us laughing through the hard times. Plant fruit and nut trees at your new house! Set up a solar shower. I'll send some student loan money. What's your address? =-]
Jan. 17th, 2008 05:53 pm (UTC)
haha, At least it can't be any worse than living on the river- cold baths, cooking on a camp stove, sleeping out in a sleeping bag...
I'll eat peaches and live like I used to, and be just fine. In fact- we all may just as well go boating. Wanna come?
Jan. 17th, 2008 06:20 pm (UTC)
The main difference is that there will be more competition for the peaches. But living on the river is definitely a good idea. Life flocks to the river, sustenance can be found there, and a hot shower can be arranged with a little ingenuity!
( 4 comments — Leave a comment )



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