Fiat Dollar Merits Attention

Confidence in the American dollar has fallen to an all-time low under Barack Obama, according to The Wall Street Journal.

The safe-haven Swiss franc climbed to a new all-time high against the dollar, which fell victim to the same risk aversion Tuesday that undercut stocks and commodities.

And CNBC reports the U.S. dollar’s weakness is at historic proportions with Barack Obama’s handling of the economy.

A trade-weighted measure of the U.S. dollar against a broad basket of currencies that includes the Yen, Euro and China’s Yuan is at a post-gold standard low when adjusted for inflation…The milestone could be viewed as a failure of the country’s monetary and fiscal policies upon which all paper – or fiat – currencies are based.

To give you a better idea of what all this means to ourselves and our posterity, consider not only the following charts, but also that the U.S. dollar was taken off the gold standard and became a fiat currency in the early 1970s — about 40 years ago:

Unemployment

Inflation

 

Government Spending

National Debt

(Source: The Economic Collapse)

Barack Obama’s response with a health spending-bill to the 2008 financial crisis — housing bust and job losses — not only shows how by criticizing his predecessor, he’s willing to say or do anything to get elected. It also shows poor leadership with the most important problem facing the country — described above as Barack Obama’s failure with the economy.

#Grey2012 is competence and character in leadership for a strong economy. Trained in mathematics, Ronald Grey is U.S. Army Strong with skills most likely to effect safety & happiness. Join me.

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