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Thursday, March 26, 2009

Obama, Fed Decree Last Days of the Dollar

With the decision last week to publicly announce the monetization of the debt, the Fed sealed the fate of the US dollar (USD). The days of the USD as the world's reserve currency are short, and its days as our currency here in the US are numbered not much longer, at least in historical terms. To avert these changes would require unfathomable political grit, and while Obama's plenty arrogant, his convictions won't support the immediate end of federal spending beyond current revenues. As I've urged on this blog before, inflation is coming, and one day we'll wake up and realize that any cash we held is not only worth way less than it used to be, it's literally worthless, because it's been replaced (maybe after a civil war)--so hedge, hedge, hedge. Buy what you know holds value (gold, silver, commodities) or what you know you can store, use, and barter in the future.

Important links to back this up:
This from "an accursed CFR bankster minion" (a nice phrase from my sage source) tells you just how bad it is; when the Council on Foreign Relations realizes that America has lost all trust in Wall Street and Congress, then truly anyone who doesn't realize that is last in line for the perception of the blindingly obvious (ah, yes, that would be Obama and Congress):

And this from the clear-eyed (at least on economics) Ron Paul, whose prophecies, once considered laughable, are clearly being proven correct at an astonishing pace:

(And here could I just whine for a moment and wonder, why are the major US networks missing their chance to waken from the walking dead? This is it! The crisis of all our lifetimes, the chance to do some real investigative journalism, an opportunity for all you big-time journalists to be the pains in the ass you all pride yourselves on being ... no? Too scared of the Fed and the Wall Streeters? Whimpering pretend-socialist cowards...)

And here, an explanation (related to Martin Wolfe's column and charts, see first link above) of why TaxCheat Geithner's plan can't work:
The famous economist John Galbraith has publicly said that the banksters will probably, through intermediaries, use Geithner's plan to get inflated prices for these toxic assets; no doubt keeping them at silly valuations on their books was all part of the plan...

Meanwhile, the things that matter to real people, as opposed to overpaid fashion plates pretending to financial knowledge, are falling apart. Five-day/week postal service, anyone?:

We conservatives have thought that social issues (abortion, marriage, religious rights, etc.) were what mattered. Turns out, high finance is a big social issue. Get busy educating yourselves, conservatives, so you can turn out the Republican leadership, who are as corrupt as the Democratic leadership, with all their kow-towing to the financial manipulators, and explain to the public why real capitalism and real conservatism are the only way to establish hope for better times. And in the meantime, hedge against inflation and Starve the Beast (see previous post).


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