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News Link • Economy - Economics USA

Don't Like a Weak Dollar? Might as Well Get Used to It

• www.cnbc.com
Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.

The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world's predominant national currencies.

A combination of factors accounts for the weakness, with the Federal Reserve's easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.

In short, as trader Dennis Gartman noted Thursday, "the rout of the US dollar" is in full effect.

"Panic dollar selling is setting in," Gartman, a hedge fund manager and author of "The Gartman Letter," wrote in his daily commentary. "This may carry farther than any of us dream of or, worse, have nightmares of."

How low can it go?

 

1 Comments in Response to

Comment by Ed Price
Entered on:

"How low can it go?" 

The American public is waking up. We The People are waking up to the gigantic scam that the Federal Reserve Banking system is in our lives. 

We are waking up to the fact that they, the Fed, create money out of thin air, loan it to us and the Government, and receive it back full of our labor-value in the form of loan repayments and income taxes. And the banks don't like it that we are waking up. Why not? Because we are starting to do something about it, that's why! 

DO YOU LIKE IT THAT THEY PRINT MONEY OUT OF THIN AIR? WHY CAN'T YOU DO THAT? AND WHY DO YOU HAVE TO REPAY LOANS TO THEM ON SOMETHING THAT WAS CREATED OUT OF THIN AIR AND HAS NO VALUE UNTIL YOU PUT THE VALUE OF YOUR LABOR INTO IT? 

Folks, there isn't any value in the money that they create and loan to you, until you pay it back. Why? Because you worked your butt off to pay it back! But they created it FOR FREE out of thin air. 

So you see why it will go the way of a weak dollar for awhile. The banking system is trying to teach us a lesson. Either we knuckle under, or they are going to make it difficult for us. 

Isn't it time for change? Isn't it time to get rid of the Fed money monopoly? Isn't it time to get back on the gold and silver standard with our money, so that there is value in it right from the start? So that the banks can't create something for nothing and then get super-rich off it at the expense of our labor?


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