Collapsing of the U.S. Dollar By Kevin Cardin There was a time when United States currency was actually worth something. But not today. Everyone from businessmen to entrepreneurs to rappers like to talk about how much money they have, but is it really going to matter? One could argue that our currency started losing value in 1913 with the inception of the Federal Reserve, but really, it started a long time before that. Granted, the Fed is a monster of epic proportions, but there has been a so called central banking system since there has been an America. Even we can see the devaluation of our currency happening at a disturbing pace. There was a time in some of our lives when the penny actually meant something. It was a means of transaction -- remember penny candy stores? Later on, or perhaps a little before… however you like it, there was the Five and Dime, otherwise known as Woolworth’s. Only this time, the nickel and the dime were the gimmick. Today, were have the noteworthy Dollar Store, or the Dollar General, or the Dollar Tree, or Family Dollar. Do you see a trend here? Some people will simply write this off to inflation. But not those with the smart money on the line. They are fully conscious that the constant debasing of our monetary system has rendered our tender three steps from nothing. It might not be all that long till we mimic the trends of Zimbabwe, printing 2 billion dollar bills which won’t buy you a dozen eggs. Call It quantitative easing or an influx of liquidity if it makes you feel better, but Federal Reserve Chairman Ben Bernanke is still printing money like it is going out of style. And it would be one thing if we actually had a gold standard to maintain its value, but as you know, we don’t. Equally amusing is that we call it a “free” market economy. That would seem to imply that something is actually worth its fair value. But how can that be when the government controls the valuation of the currency which we use to purchase said item? With 12 regional bank presidents as voting members in the Federal Reserve, it’s comfy to know that they are actually elected by those they represent. But unfortunately, the Board of Governors consists of 7 Presidential appointees, and majority rules, since only 5 bank presidents can vote at any particular time. Even worse is that only select individuals are privy to the banks that comprise the Federal Reserve, and since the public is not made aware of their minutes in a timely manner, what conclusions can we surmise - that our money is still going to hold value once the rest of the world smartens up and denounces the dollar standard? So for those who prefer something our government can’t oversee, make infinite amounts of or regulate its value, start buying gold now.
Posted on: Tue, 10 Sep 2013 01:21:46 +0000
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