The U.S. Dollar may become a Euro?!

While I have been commenting on the dollar decline for some time now, todays news was truly ominous, Former Fed Chairman Greenspan said that the Dollar may soon be replaced by the Euro! This news, however not surprising given the subprime meltdown, and economic debt of America, was news that arrived sooner than I expected.

While my personal opinion is that our dollar will not become worthless for at least another decade, Greenspan has pretty much led me to believe that it may be sooner than I think. The news in Europe yesterday was daunting with bank runs again today extending to more banks in England. But most disturbing was China's suggestion that they will destroy the value of our U.S. Dollar if we fail to give in to their wish of annexing Taiwan.

While the Federal Reserve act of 1913, and our annual trade deficits over the last century contributed to our leaders greatest fears about the Fed. Not only are they now being proven false and a lie, but we American's have been officially betrayed by the Federal Reserve. I still insist that Chris Dodd Impeach members of the Federal reserve for failing to deliver on the job they were originally entrusted to competently do.

To remind all of you who may have forgotten the job and history of the Federal Reserve, they were originally established under the belief that our leaders were incapable of managing money and they would need a trustworthy central bank to prevent inflation. The Federal reserve was entrusted to regulate the value of the U.S. dollar and curb and or prevent inflation.

Greenspan's latest remarks are a direct confession that the Federal Reserve has FAILED in its duties. Many economists believe their latest half point rate cut, combined with its monetary expansion was irresponsible, as it inflates the losses of foreign dollar holders by accelerating inflation and holding no one accountable.

Now to think that "Recession" or even a "Depression" may be coming our way is incredible! I still find it outrageous that Bush is being blamed by Fed officials for bad loans originated by banks and brokers under their policy. It is incredible that the Fed. and its officers have been exonerated from any culpability in this criminal destruction of the dollar. Were they not behind purchasing these bad loans through Fannie Mae and Freddie Mac?

Even more astounding yet is how trusting global hedgefunds were to purchase these bad loans, how many people in other countries has the Fed hurt? I can only sit back in sadness as Millions of Americans lose their homes in the next few years, and as our economy slides into greater chaos I can only pray to God that what comes out of the ashes is still American and sovereign. Are there any answers? Is there any hope? or should we all just accept that this is the end of America and the beginning of Globalism and the New World Order Bush 1 spoke of?

http://canadianpress.google.com/article/ALeqM5g-NQk5vkp5I5zS3Gj7DI362VEhAQ

Some new news on the Dollar decline today 9/20/07 is Alex Jones report that the Saudis and some other oil producing countries have begun dumping the U.S. dollar accelerating its decline. The Dollar is so low today that for the first time in history Canadian money is worth more than U.S. money.