Ho-hum – The Collapse of the Dollar
By Joseph Farah
April 03, 2009
"WorldNetDaily"
Source
One of the interesting things about the Internet news business is how you get to see which stories attract interest, attention and readership.
Sometimes, you just never know what people will go for until you see the reports with your own eyes.
Recently, the news has been rife with reports of the imminent collapse of the dollar.
Now, I would have guessed that this story would be of inordinate interest – especially to Americans.
What it means, fundamentally, is that their dollars are going to be worth less – or maybe even worthless.
Yet, according to the readership reports I see on WND, these stories have been met with a collective yawn.
I don't know if that means Americans just aren't taking these warnings seriously or whether they just don't want to read bad news. Maybe Americans believe if they don't read the reports, they won't come true.
But this is serious business.
Since World War II, the U.S. dollar has been the standard for currency throughout the world. That is changing because of the weakness of the dollar – because of how much debt the U.S. has accumulated and because of how many dollars have been flooded into the system to keep the economy from collapsing.
The response by the U.S. government to the imminent collapse of the dollar internationally has been to do more of the same – to vastly increase debt and currency. Very seldom in life is the cure for an affliction higher and faster doses of the poison that caused the affliction. But that is what the Barack Obama administration, the U.S. Congress and the Federal Reserve are trying as a last resort to jumpstart the economy.
Arm yourself with information, like a great new book by Jerry Robinson called "The Bankruptcy of Our Nation." It's a great primer on the subject – and very current.
Unfortunately, even if it works in the short-term, which I sincerely doubt, it will mean even more long-lasting pain later.
The current debt-spend economy of the United States is simply not sustainable. And the cure is not more debt and more spending.
This formula has been tried many times by empires of the past. It has failed every single time – no exceptions.
Do Americans really believe they live such a charmed life that the laws of economics and the laws of the universe do not apply to them?
Do Americans really believe their leaders are so much smarter and gifted than the leaders of the past that they can somehow outwit the laws of economics and the laws of the universe?
Do Americans really have such blind faith in their government that they are willing to keep their heads in the sand even when they see their economy failing all around them?
I hope not.
I pray not.
In fact, I am very encouraged by the grass-roots "tea-party" rebellion springing up all across America. But will it be enough? Is it too little too late?
I believe unless this activity is greatly stepped up in the coming months, government will continue to believe it has license to continue the failed policies of the past – ending all hopes of a reversal and real, long-lasting recovery.
Government and the central bank are pushing all the wrong buttons. The death of the dollar is near. If you want to avoid a total catastrophe in this country – one that will affect not only you but your children and grandchildren – it's time to get out in the streets and stop the madness.
Yes, participate in those tea parties. Help organize more. And let your elected officials know you are on to them. Tell them, "No more bailouts. No more economic stimulus bills. No more printing money. No more tax increases."
Let the free-enterprise system work. Stop the counterproductive and destructive government meddling.
We can do this. The time is now!
Joseph Farah, is a veteran newspaper reporter and editor who directed the editorial operations of the Sacramento Union and other major metropolitan dailies before pioneering Internet journalism.
Read and weep.
U.S. Debtor Meets G20 Creditors at the Dollar’s Funeral
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