Tuesday, January 12, 2010
Dollar Scheduled To Be Replaced
The dollar we carry around in our pockets have been under fire for a very long time. Once guided by the noble principles of the Bretton Woods Agreement, and backed by solid Gold the Dollar was the most respected post World War II currency in the world.
The Arab nations all have denominated dollars for the purchase of oil exports, and most every other nation in the world must purchase dollars from the Federal Reserve in order to complete their exchange with OPEC the group that regulates oil production.
The gold standard ended under Richard Nixon, the mounting war debt and pressure from within his administration to give us new money not backed by Gold, but Legal Tender. This new standard made the Economic engine of America, and the strong financial position of Americans as the new commodity that gives the dollar value.
This also gave Washington D.C. a blank check, and the ability to print money at will. Every time our country is broke Congress ordered/s the Treasury department to cart over more T-Bills to the FED for fiat cash.
This has been done to the tune of 12.5 trillion in debt, an expansion of government that is unparalleled in history and an accelerated decline of the current American system along with our economy.
The dollar policy, along with our export of jobs, and favorable climate created for overseas slave labor made America feel the Dollar had value again. Despite having a declining industrial base, American's are still able to purchase slave goods from massive import corporations like Walmart, and Target.
The Dollar abuses have now entered their "Death spiral" a term used by economists who have always known that every fiat based currency eventually collapses due to abuses. No fiat currency system in history ever survived, eventually the abuses undermine the legitimacy and value represented by the currency. People need more and more of it just to get by, and finally this year or by early 2011 it will all come crashing down.
The worlds central banks are being told by the FED as we speak to make way for a "re-valued" dollar in preparation for the collapse of the current "green back." The revaluation will be a surprise to most, and it must be if we are to avert a mass panic and a premature liquidation.
The Federal Reserve Act HR 1207 and SB 604 (in waiting) was just approved by congress, and pending lawsuits by Bloomberg against the FED are tearing down the facade to reveal the "ugly beast" hidden in the FED temple. End the Fed Rallies at every Federal Reserve have also sent a clear and concise message to the Banksters responsible for the coming meltdown.
When the curtain falls, and the abuses of the Dollar are revealed a new way of doing business in America will be launched. The new way will be nothing like the old way, because under the new system a Dollar will not exchange for a Dollar. Expect the currency to be revalued further downward. The result is the impoverishing of the American people making imported goods very expensive. Traveling abroad will also become inconceivable as this will be a privilege of the wealthy only.
The days when our forefathers saved for years to come to America may very well be our nations new Irony as this nation will commence its struggle with the very political systems that enslaved early European populations.
Socialism, feudalism, or worse fascism may be borne out of necessity in America, and under protest by the very people who watched our nation march toward a failed state. The future will certainly require us to rebuild and reinvent our place in the world.
The future will also require us to hold those who sold us out accountable and to instill the very safeguards... yet again... to keep us free as a nation. Benjamin Franklin once said that Americans have a "Constitutional Republic.. but only if we can keep it." The Constitution will never enforce itself and now that is up to us.
Above Photo: (Dollar presented to Bankers at the last Federal Reseve Meeting)