Added: Oct. 13, 2008
Added: Oct. 13, 2008
It is incredible to see the rampant devaluation of the U.S. Dollar. The Federal Reserve just hours ago made a rare cut of 25 basis points during the weekend which will cause even more inflation. Gold immediately moved up $20 an ounce and the U.S. Dollar Index plunged under 71 in international trading. If this type of market activity continues the U.S. Dollar will have no value in a few months. While it is probably unlikely that we will see a hyper-inflationary collapse of the U.S. Dollar within the next few months, these policies are entirely unsustainable. If the Federal Reserve does not move to defend the value of the U.S. Dollar we will eventually see a hyper-inflationary collapse and worldwide financial turmoil. This view is also shared by other well respected financial analysts. Peter Schiff recently raised concerns about a hyper-inflationary collapse of the U.S. Dollar, Robert Reich a former Clinton cabinet member believes we are facing a depression and Alan Greenspan the man who caused this whole mess wrote in the Financial Times stating that we are facing the worst financial crisis since World War II. What’s amazing is that the Federal Reserve isn’t even trying to protect the U.S. Dollar because all they care about is saving the power of their private banking cartel. They don’t care about the U.S. Dollar nor do they care about the country itself. They are destroying this country through their actions and there needs to be an investigation into the controllers of this bank.
Alan Greenspan saying that we are facing the worst financial crisis since World War II is like a killer returning to the scene of their crime and explaining the results of their crime. Greenspan recently told nations in the Gulf to drop their currency pegs to the U.S. Dollar which encouraged a further drop in the U.S. Dollar. Greenspan’s Financial Times article will cause an even greater acceleration in the collapse of the currency. As the former head of the Federal Reserve, his comments still hold a great deal of importance with people around the world. This means that his comments can literally move the value of the U.S. Dollar one way or another. It is incredibly sick how Greenspan can get away with creating the current crisis we face with his low interest rate policies earlier this decade and analyze the problems that are occurring today that were a result of his own policies with no criticism from the corporate controlled media.
Ron Paul was the only hope for America.