Democrat, Republican, Green, Independent, Libertarian, etc.… I could personally care less. It doesn’t matter what political affiliation you have. If you are a red-blooded American, you will be in the same boat with everyone else. “Our” boat has a leak and it is about to get a lot bigger.
We have been “Bailing” out banks, insurance companies and investment companies to the tune of Trillions of dollars. Our president tells us that the problem is going to get worse before it gets better. This might be the only thing Barack Obama has said that I actually agree with. There is one small caveat, and that is to say the problems I am talking about are the ones caused by him and his Congressional enablers .
Recent news headlines warned that the member nations of the G20 are proposing a new world currency and to drop the dollar. For most Americans, this is a non-story. I am not sure why, because this is perhaps the most important story in our history since it has the potential to destroy us.
The G20, which is a group of the largest 19 economies plus the EU, controls more than 80% of the world’s gross domestic product. Should they be successful in moving forward, their actions will be catastrophic for America.
I am not a conspiracy theorist, nor someone who is pessimistic about America’s future. But I am scared stiff of what is hovering on the horizon.
Currently, the U.S. has a national debt in excess of 10 Trillion dollars. In the first three months of a new presidency, President Obama has proposed and Congress is about to actually approve, more debt-based spending than our nation has ever spent. By the word “ever” I mean all of the presidencies from George Washington up and through George W. Bush combined.
The combination of the G20 proposal and the actions of our elected officials will destroy the US dollar and the economy of the United States. The sovereignty of our nation is at stake and the media either doesn’t get it, or is so busy being the cheerleader for the Obama administration they are blinded by their infatuation. We are under attack, and it is from within.
The money Congress and the Obama administration are spending is money we don’t actually have. So, we have to borrow it from other nations. If we cannot borrow it, then the Treasury will print it. Since we dropped the gold standard in 1971, our dollars are not backed by anything of value beyond the full faith and credit of our government. Since the purchasers of our national debt have expressed concern about the security of their “investment”, they are essentially saying our credit rating is suspect and they have no faith in our ability to repay.
In “econospeak”, they are saying they do not believe we can support our current debt levels, and the spending spree the Administration and Congress are on is not sustainable. That is a wake up call because they are absolutely correct.
After the Second World War, most nations pegged to the dollar which was backed by gold. A dollar or a Federal Reserve note could be exchanged for one dollar of gold upon demand. In 1971, when we dropped the gold standard, we put all of their wealth on the same system. As we continue to devalue our currency, and borrow more and more money we are destroying their system at the same time.
So, their solution is to un-peg from the dollar. If this happens, they will flood the system with dollars as they sell their reserves and convert their treasury to a new currency. This flood of dollars will essentially make a dollar worthless as there will be far too many dollars backing up too little goods.
The most recent nation whose currency took this path was the former Soviet Union. They were destroyed by a devaluation of the ruble, caused by high inflation, and a lack of productivity, caused by socialism, from which they still suffer to a degree. Yes, I said the “S” word.
What I don’t fully understand is how is it that the so called smartest people in the country, who have been educated in some of the finest institutions of higher learning, can turn out to be so stupid as to not actually learn from prior mistakes? Call me old fashioned, but that principle is what kept you from touching a hot stove twice when you were a toddler.
How ironic that the most powerful nation on the planet can be destroyed by a piece of paper? These events are in progress and can be stopped. The American people must wake up and take this nation back from those that are either ignorant or willfully seeking to change this nation to one that is dependent upon others for its survival.
Our Congress is currently trying to solve a long term problem with a short term solution. Their approach is short-sighted and incredibly dangerous. I believe it borders upon treason and we must solve this problem with our most powerful weapon. Our vote.
We must resolve ourselves to plug the hole in the boat, throw those who are helping to make the hole bigger (Congress and the administration) overboard. Just as we cannot save our boat by pumping more water on-board, we cannot borrow our way to prosperity. Contact your congressional representatives today and tell them how you feel.