The collapse of the dollar is inevitable why you ask because all fiat currency will eventually go to zero [what's a fiat currency you ask click here]http://www.investopedia.com/terms/f/fiatmoney.asp
and no people our money is not backed by gold that stopped in 1970. That's why the 70's were so horrible and stagflation set in.
[check my other blog to find out what stagflation is click here] http://http://blackmoneymagazine.blogspot.com/2007_09_20_archive.html
http://www.investopedia.com/terms/s/stagflation.asp
It wasn't until oil was agreed to be sold in dollars by the saudi's in 1980 that the dollar had a new commodity to sustain the falling dollar.
Do you remember the 80's gold was 750 an ounce silver was 50 dollars an ounce and a home mortgage was at 12% interest rate ahh yeah the hyperinflationary 80's.
[don't know what hyper inflation is click here]
http://www.investopedia.com/terms/h/hyperinflation.asp
Well i guess that was better than the stagflationary 70's . Who could forget the tech bubble 90's now we are poised for disaster with iran,Venezuela and iraq 3 of the top oil producing nations who all threatened to sell their oil in euros i guess that's why their all on America's terrorist lists. if they succeed the dollar will plummet faster than a roller coaster at great adventures LOL.
http://thisorthatshit.blogspot.com/2006_06_11_archive.html
http://www.thetruthseeker.co.uk/article.asp?ID=4657
http://digg.com/world_news/Iran_s_Demand_Please_pay_us_for_Oil_purchases_in_Yen_and_Euros_not_dollars
Many people knew we went into Iraq for oil but just didn't understand economics enough to explain why click the links above and educate yourself people.
what you thought it was because of WMD's ha ha ha how wrong you are that's why America will stop at nothing to make war with and topple these countries governments. listen people the number one cause of death is not aids, famine, or atom bombs
it's money always has always will be follow the money and it will lead you to the truth. Now does this mean a great depression is coming no it could but don't get all apocalyptical on me, but the future just isn't as bright for a fiat currency like it is with a currency that is backed by gold or silver. I am a strong advocate of the gold or silver standard gold is the money of kings silver is the money of the people remember the term "as good as gold" or "born with a silver spoon in your mouth" get the picture yet. It was Alan Greenspan the chairman of the federal reserve central bank for 20 years that totally backed the gold standard and before he was corrupted by the banking system he said this in favor of the gold standard in his 1962 essay entitled
"The Gold Standard by Alan Greenspan"
In absence of the gold standard, there is no way to protect saving from confiscation through inflation. There is no safe store of value. If there were, government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that their be no way for the owner to wealth to protect themselves.
This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understand the statists’ antagonism toward the gold standard. Click here for the complete essay
http://www.freerepublic.com/forum/a3b49596420e0.htm
After all Remember the Golden rule people he who has the Gold will rule.
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