"All truth passes through three stages. First, it is ridiculed, second it is violently opposed, and third, it is accepted as self-evident."
Arthur Schopenhauer, Philosopher, 1788-1860
Thoughts on Voting
"The people who cast the votes don't decide an election; the people whoCOUNTthe votes do." -- Joseph Stalin
Saturday, April 16, 2011
It's Time for a Radical Change
America is at a point in its existence that is far more dangerous than ever before. In the 1960s, the wealthiest paid 90% in income tax. That's right, 90%. The wealthy were still rich, no matter how you cut it, but their contributions to our society paid for hospitals, schools, bridges, highways, etc. The country flourished.
Over the years, various presidents have reduced that amount until at the present time when they are paying 35%. Now the Republican Party (the party of evil) plans to reduce the 35% to 25%, and have it made up by the elderly and the poor. Enough is enough.
George W. Bush struck the final blow to our economy. The death blow. He took a healthy surplus from Bill Clinton who had balanced the budget, and gave that surplus away to the cronies who had paid for his election. He called it "tax cuts for the rich". I call it corporate welfare. At the same time he started two wars off the books -- unpaid for.
Unfortunately, in 1971, Tricky Dick Nixon took the United States off the gold standard. Prior to that, every dollar printed by the US Mint was backed by gold. It was worth something. In 1971, when the US Dollar took over from the British Sterling as the world's reserve currency, Nixon decided all future money printed didn't need to be backed by gold, but by the good faith and credit of the United States. The paper we are printing is exactly that -- paper. It is virtually worthless and soon will be.
Further articles will deal with the economic situation and the disaster facing the unaware American people. I suggest you view this video entitled, The Day the Dollar Died for a look into the near future.
It may not happen exactly like this, but the standing as the world's reserve currency for the US Dollar is rapidly coming to a close. Just this week, billionaire George Soros announced that the US Dollar is no longer the world's reserve currency. What does this mean to you?
Sam Zell (the 60th richest man in America according to Forbes Magazine, and one of the world's best investors), did a rare interview with CNBC. Here's what he said:
"My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. I'm hoping against hope that ain't gonna happen, but you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. I think you could see a 25% reduction in the standard of living in this country if the US dollar was no longer the world's reserve currency. That's how valuable it is."
What will you do if and when your dollar can no longer purchase what you need? When a loaf of bread costs $5 and a gallon of gas is between $8-10? We'll deal with those issues in articles to follow.