Oh Woe!!! The Dollar is Doomed!!!!
Is the Dollar doomed? Is it going to become worthless?
Nope. The pain that we are feeling makes us think that. What is doomed is not the Dollar, but all Fiat currencies. So now we have the Euro looking like the king of the hill, forgetting that at best it is just another version of the Deutsche Mark, and at worst it is a cracked currency, or as one smart guy puts it, Esperanto as money..
We are witnessing a slow train wreck that has been decades in the making. The final push came when Nixon shut the Gold window in 1971, and the USD was no longer convertible to Gold.
What has happened is this… the “normal” economic cycles that Man has lived through for millenia has been made tenfold, a hundredfold more impactful by our experiment with Fiat Currencies, which is nothing more than counterfeit money, since Governments can print as much as they want, and which they do.
The blame falls squarely on all our shoulders for turning our backs on what has constituted as money for most of our species’ history; Metals. Gold, Silver, Copper and so on. The funny side to the whole matter is that the warnings made by the sensible students of history is ignored, while people like Bearded Ben and good old Greenspan are listened to with bated breath.
To put it simply, we have been on this planet for about 195,000 years. But in the last 100 or so we have ravaged this planet to fuel our appetites, and have made so many collectively idiotic decisions that I wonder if the dolphins are laughing at us.
This link takes you to a speech by the Hon Ron Paul of the US Congress. He is one of the smart ones.
