fox news with their usual talking heads and half truths.
MarketWatch.com - Pre-Market Indications
Sunday, March 2, 2008
dr ron paul talking about the decline of the dollar and the economic decline of America. ron crushes the chairman of the federal reserve again. "fed reserve purposely devaluing the dollar" , "middle class being wiped out"
The global economy is falling apart all around us. We can expect a continued rise in the price of gold and silver as it is becoming increasingly apparent that the Federal Reserve, the U.S. government and even Alan Greenspan are doing everything they can to destroy the value of the U.S. Dollar. In fact, the policies currently being implemented by the establishment is criminal because by devaluing the U.S. Dollar they are indirectly robbing from the American middle class by destroying the purchasing power of everyone’s bank accounts that are denominated in U.S. Dollars. At this point it is becoming increasingly clear that the establishment wants a weaker U.S. Dollar considering some of the insane policies they are implementing and insane things that they are saying.What makes this rise in precious metals particularly interesting is the fact that the IMF has been dumping gold on to the market and gold continues to move up in value. The manipulation of the gold market is starting to fail as is the policy of managing a slow decline of the U.S. Dollar without a parabolic rise in precious metals.
Federal Reserve chairman Ben Bernanke shows no signs of reversing course and setting policies that will save the U.S. Dollar. Bernanke testified in front of Congress today and he indicated that they would continue to reduce interest rates to prop up the economy. This is also a criminal act. Bernanke would prefer to sacrifice the value of the U.S. Dollar just to make the stock market look as if it is treading water. It is much more destructive from a long term basis to destroy the monetary unit that the economy is based off of than it is to raise interest rates and defend the monetary unit. The Federal Reserve should be raising interest rates to defend the U.S. Dollar. This would cause an immediate economic slowdown but long term it would save the economy. Bernanke has decided to choose the wrong option and this could cause an inflationary collapse.