I have been reading a lot lately (thanks to my brother) about how much the dollar is declining and why we should put our investments in other things like gold. 

The euro, worth 83 cents in the early George W. Bush years, is at $1.45.The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?Nope. The dollar has plummeted in value, more so in Bush’s term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar.Is it all Bush’s fault? Nope.The dollar is plunging because America has been living beyond her means, borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium.The prime suspect in the death of the dollar is the massive trade deficits America has run up, some $5 trillion in total since the passage of NAFTA and the creation of the World Trade Organization in 1994.In 2006, that U.S. trade deficit hit $764 billion. The current account deficit, which includes the trade deficit, plus the net outflow of interest, dividends, capital gains and foreign aid, hit $857 billion, 6.5 percent of GDP. As some of us have been writing for years, such deficits are unsustainable and must lead to a decline of the dollar.A sinking dollar means a poorer nation, and a sinking currency has historically been the mark of a sinking country. And a superpower with a sinking currency is a contradiction in terms.

This is one of the many reasons why I am voting for Ron Paul.

Real economic growth won’t return until confidence in the entire system is restored. And that is impossible as long as it depends on the politicians not spending too much money and the Federal Reserve limiting its propensity to inflate our way to prosperity. Only sound money and limited government can do that.      - Ron Paul   

Just found this today, such an amazing idea!! This is what I have been looking for, you should all research it. NOW! http://www.libertydollar.org/

This entry was posted on Tuesday, November 13th, 2007 at 4:58 pm and is filed under Rants, politics. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.