Sinking Currency, Sinking Country good piece by Buchanan
Submitted by TraditionalGOPer on Sun, 11/04/2007 - 03:44Have 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....
Patrick J. Buchanan
http://www.humanevents.com/article.php?id=23218
I have been a big fan of Buchanan for a long time.... even collected signatures for his campaign in Texas in 1999. However, Ron Paul's campaign excites me in way that even Pat's could not.
Reading Ron Paul's writings add the "why's" to what is happening now in this country. Supporting him is not only a necessity, but also logical if one cares about this country. Will we wake up before it is too late, or is this country sunk?
It is especially true about the chickens coming home to roost
Foreign businesses and other nations are no longer lining up to but the US debt issued by the treasury. What is more important is they are declining to roll over the previous investments they have made in our debt which is resulting in a net outflow of capital from this country. Add to that the mistrust that foreign banks and investors have for US commercial paper because of the fraud generated by rating firms that gave unwarranted high ratings for that commercial paper that is now in default and is seizing up the monetary systems, and you have a formula for an unprecedented economic disaster. Why should people have faith in the dollar when the Fed has shown they will sacrifice its value to appease the pen striped bandits of Wall Street? Watch what happens in the coming months. The write downs by the banks and investment firms that have occurred so far are just the tip of the old iceberg. I only hope we can get Dr. Paul in the oval office before the whole situation has a complete meltdown that would put the great depression to shame, though I wonder if it is not too late already.