liveonearth (liveonearth) wrote,

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?
Tags: constitution, debt, economics, germany, gold, hegemony, money, ron paul

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