Wednesday, October 3, 2012

The dollar is just paper

Understanding destructive monetary/fiscal policies(increasing the supply of dollars without a proportional increase in productivity/GDP growth)

Or how the FED and Obama administration have devalued the dollar causing inflation now with hyperinflation to come.

What is it about fiat currency debauchery that makes it so hard to understand? Imagine the mockery Michelle Obama would get if she announced plans to cure the country's obesity epidemic by changing the number of ounces in a pound. Wow, I'm down to 175 without dieting! Yet this is exactly what is happening to the dollar, with much worse to come.
 -Bill Freeza

The value of the dollar, in other words, has collapsed to less than half of the number ounces of gold it was worth when President Obama acceded to the presidency and to less than a sixth of what its value on the day, say, George W. Bush acceded. -Editorial, New York Sun

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