MasterWolf1: "...The US dollar is so weaken right now it is not even funny..."
For some time now, the dollar's value has been entirely psychological; backed entirely by peoples' faith in the integrity and strength of the United States of America.
The Federal Reserve was able to manipulate world currency markets to the extent that paper dollars with absolutely no backing became the world's reserve currency standard for all purchases of oil; hence the term "petro-dollars".
All countries viewed the U.S. dollar as the most stable and valuable currency; as stable and rock-solid as the United States of America.
Today, the whole world has been watching with genuine alarm at the mismanagement, corruption, fraud, and deceit emanating from Washington; hoping against hope that it was only a temporary phase and that all would return back to normal.
But the U.S. economy worsens by the minute, and can not be checked.
It's too late to stop the bleeding, and Washington has to borrow money from Red China and the Muslims each and every day, just to continue spending like a drunken sailor; with no possibility of ever repaying the increasing debts.
Result: The "psychological" backing for the dollar has turned into a purely psychological "contempt" for the dollar and for the government which prints it.
The previous "Great Depression" started during a time when America was a creditor nation without debt, without credit cards, and with self-sufficiency in food and agriculture.
One thing you can count on: The current developing world crisis will be met and managed by the same folks who sealed your borders, deported all the Muslim terrorists, and saved New Orleans from flood.
Bush even has to borrow the money which he intends to use to "stimulate our economy" from the same Red Chinese Communists and Arabs whom we already can not pay back our previous loans.
Topic: Let's pray that Huckabee drops out. (Read 2956 times)