The Buck is Toast: What’s Next?
Apr 9th, 2008 | By Russell McDougal | Category: US Dollar & Forex TradingThe dollar is worth about four cents since the Federal Reserve took the helm in 1913. That has not destroyed it. Both Americans and foreigners have clamored after it in all the recent decades. What will do it in and what is coming our way next?
The greedy geniuses in the New York and Washington D.C. axis of weasels finally did the deed. They killed the goose that laid the fiat egg. They weren’t content to merely bring in trillions of dollars in profits.
They had to leverage their schemes and shower them across the globe in the form of fraudulent real estate bond packages and derivatives. Check out the definition of hubris. The camel’s back then took on one too many straws.
The dollar continues to probe new depths. A short-term bounce is always possible but the fundamentals are atrocious. Nobody in control is suggesting anything remotely possible as to fixing it.
The clowns in charge of the buck continue to bray that the US has a “strong dollar policy”. I’d hate to see what it would look like if they wanted it lower. Here’s a recent dollar chart:

The dollar replaced the British Pound as the world’s “reserve currency” in 1944. Commodities have since been priced in dollars globally. That means foreign countries had to first purchase dollars in order to buy key commodities such as oil. Other central banks kept their reserves in dollars. No one could get enough dollars. These entities financed our debts and extravagances.
Those days are now gone. Fool me 524 trillion times… shame on me. Dollars are being shunned across the world. Dollar links to commodity pricing are being broken. Nobody wants to save in a depreciating entity. The era of guns and dollars is kaput. Only the guns are left. You should be concerned.
The Euro will assume a large part of the duties left in the wake of the dollar chaos. It is now of an age to do so. The Japanese Yen and Chinese Yuan will also come to the fore. The Swiss would love to have their Franc, once again, be a major global player. At this point, these are all totally fiat entities and more of the same.
Un-backed currencies are always on borrowed time. They appeal to the something for nothing crowd. This same crowd inevitably brings them down.
The entities in charge of global economics and finance want nothing to do with honest money. They will fight gold or silver backed money tooth and nail. Commodity backed money restricts their power. A constitutionally mandated, precious metal backed currency sets individuals free. Fiat money enslaves.
Where do you think the US is headed next when the final nail gets pounded into the dollar coffin? Honest money or more of the same?
My jaded and conspiracy oriented mind sees continued abuses coming our way. As long as the elitist creeps in the Council on Foreign Relations and other secretive societies remain in power behind the scenes nothing substantive will change. It’s just like the changing of the guard at Windsor Castle. A bunch of bodies shuffle around, but nothing behind the walls changes.
Elitist globalists are intent upon bringing forth a “New World Order”. They seek a one-world government and they intend to run it. You will be their serf.
The US has been and continues to be dismantled. It is no accident. US sovereignty and the US Constitution stand in direct opposition to authoritarian enslavement. They have largely been rendered null and void. Unending Executive Orders, the Patriot Act and unconstitutional treaties have rendered the Constitution little more than a historic document.
We have been purposefully bankrupted.
Our manufacturing base and our standard of living have been shipped overseas. We are being assimilated into the global community.
Our borders have intentionally been left unprotected. Same as above.
What does all this have to do with the dollar and coming currency regimes? Friends, we’re heading for more of the same problems, but on a larger scale. Bigger is always better, right? How will we ever be able to compete with the Euroland colossus? It now represents 31% of global output and is considerably larger than the US. What’s next?
You got it. We’ll form our own North American Union! Then later we can merge with the rest of the world. One big happy feudal kingdom. Check out what our esteemed leaders have been up to (http://www.humanevents.com
“Following the March 2005 meeting in Waco, Tex., the Council on Foreign Relations (CFR) published in May 2005 a task force report titled “Building a North American Community.” We have already documented that this CFR task force report calls for a plan to create by 2010 a redefinition of boundaries such that the primary immigration control will be around the three countries of the North American Union, not between the three countries. We have argued that a likely reason President Bush has not secured our border with Mexico is that the administration is pushing for the establishment of the North American Union.”
We don’t need no steenkin’ dollar. We can have the Amero, eh? It’s not like Waco needs more infamy. Here’s more:
“Pastor’s 2001 book “Toward a North American Community” called for the creation of a North American Union that would perfect the defects Pastor believes limit the progress of the European Union. Much of Pastor’s thinking appears aimed at limiting the power and sovereignty of the United States as we enter this new super-regional entity. Pastor has also called for the creation of a new currency which he has coined the “Amero,” a currency that is proposed to replace the U.S. dollar, the Canadian dollar, and the Mexican peso.”
The creatures (http://www.amazon.com/Creature
I see a new DC/NY clothing line on the horizon. Get your own “honest money” while you still can.
Invest Resourcefully,
Rusty
P.S. To let me know what you thought of today’s article, send an e-mail to: feedback@investorsdailyedge.com.
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Rusty writes for Investor’s Daily Edge. Since 1993, Dr. McDougal has focused almost exclusively on gold, silver and resource investing. He has a particular affinity for silver and has studied virtually everything available on the topic since 1994. Today, Dr. McDougal’s personal portfolio is a virtual mutual fund of natural resource exploration and development companies.
