Posts in "Dollar"

By William Stewart-starks at 10:06AM

Nov 7, 2011

Zombie Founding Fathers Warn of Dollar Crash

This Halloween, University of Kansas Young Americans for Liberty invaded campus as rotting corpses and creepy ghouls to illustrate a similarly ailing dollar. They were assisted by a zombie horde of founding fathers and Death himself who stalked the Graveyard of Fiat Currencies. The Zimbabwe dollar, Yugoslav Dinar, and the German Mark were represented on tombstones which illustrated the frailty of any nations currency as students passed out information on how an essential role of government should be to ensure sound currency.

Passersbys were given "zombie money" that featured images of Ben Bernanke and the 100-year chart of the declining dollar. Students were then encouraged to spend their "money" on campus to buy lunch or other goods. Some perplexed students challenged the value of the ghoulish dollar as "not being real money because it was just paper."

YAL members were able to relate the decline in the value of the dollar over time by showing the inflation of products from 1913 (after the creation of the Federal Reserve and their mandate to secure the dollar) to today.

Some students were shocked to hear how the price of a loaf of bread had risen from 10 cents to $2.50 or a gallon of gas from 3 cents to over $3.

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By John McKenna at 1:25PM

Aug 4, 2011

The Dollar's Dramatic Decline

Remember back in the good old days when the dollar was king? It was that strong, green piece of paper that the world used for its commerce. It was dependable, and it was backed by the full faith and credit of the United States government, something that everybody believed would ensure monetary supremacy for the dollar for years to come.

Then dark times came, in the form of debt, deficit, and Federal Reserve-caused inflation that made the dollar progressively shrink. Sure, not many people notice its declining value in the short-term. However, the decline is noticeable around the world, especially when compared to other currencies:

(Source: Yahoo! Finance)

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By John McKenna at 2:12PM

Jul 28, 2011

Gold Hits Record High as US Heads Closer to Default

With a week to go before the debt ceiling deadline is hit, investors and traders are getting their emergency disaster kits ready for the potential of a U.S. credit downgrade, and they're filling those kits with gold and silver, rather than U.S. Treasury bonds.

After talks of a deal were delayed once more, gold rose to an all-time record of $1,612/oz yesterday, amidst fears of a credit downgrade in the United States. While some are quick to blame the price spike on the political tug-of-war, investors and economic analysts say the gridlock will be a "minimal" player in the long-run, citing the rising national debt as the real reason behind creditors' jitters. Also, the fear of not just the United States' defaulting, but Greece as well, despite the assurance of new bailouts from the EU and the IMF.

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By John McKenna at 3:12PM

Jul 20, 2011

Gold, Silver End 10-Day Rally, Longest in 21 Years

Gold prices have dropped today after a 10-day rally drove the price up to over $1600 an ounce. This was the longest rally for gold since January 1980, and it comes at a time when investors are becoming more and more wary of the European and American economies.

This rally represents the growing discontent over the ever-weakening dollar, and a euro in crisis mode as a result of the debt plague ravaging the continent. Silver also dropped below $40 today as well While the rally may have ended, and metals prices appear to be cooling off, there is still some good news for gold and silver junkies out there. Yes, the prices dropped a bit today, but as long as we have a Federal Reserve talking about quantitative easing, those prices will rebound soon enough. Granted, we are not rooting for our national currency to become worth less than the paper it is printed on, it's a real travesty that the dollar can be so easy devalued by a small handful of bureaucrats and bankers, but if you want something to believe in, the dollar clearly isn't it. Originally published at www.silverunderground.com.

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By Creighton Harrington at 5:40AM

Mar 17, 2010

Schiff Destroys Krugman

Usually Peter Schiff rambles in his video blogs, but in this one he says so much and utterly destroys Paul Krugman (not that its too hard).

Its unfortunate that even though Peter Schiff is consistently right about stocks and economic policy, he is still ignored.

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By Aaron Ricks at 5:13PM

Nov 9, 2009

How long have we been saying it?

Gold hit $1,100 an ounce today. Too bad its at the expense of our dollar...

"The U.S. dollar is certainly the main trigger today," said Suki Cooper, a precious-metals analyst at Barclays Capital. Yet "there's a cocktail of factors, ranging from dollar weakening to news last week that Asian central banks are buying gold."

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By Bonnie Kristian at 12:14PM

Nov 9, 2009

Candlelight vigil to be held for declining US dollar

YAL at Indiana University will be holding a candlelight vigil for the declining US dollar, reports CampusReform.org Field Rep Craig Dixon:

The Federal Reserve Note (FRN), established in 1913 by a private, central-banking cartel, has been in slow decline over the course of its life span, losing around 98% of its original value. The FRN is in grave condition, being artificially sustained by life support systems from overseas.
The FRN has led a turbulent life, following a tragic separation from its partner, gold, in 1933, it fell into a depression and inflated massively over the course of the next several decades. The divorce became final in 1971.
The FRN’s continued bloating has proven detrimental to its health over the span of this time, with some saying that the FRN never fully recovered from its split from gold.

Read more on this clever and (I think) hilarious activism idea here.

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By Aaron Ricks at 5:12PM

Nov 4, 2009

Gold, Gold, Gold, and more Gold.

Wow. It is simply amazing to see all those gold predictions that we've been listening about by people like Peter Schiff and Jim Rogers come true. It just reaffirms my faith in our cause...

"The Fed reiterated the fact that they'll keep interest rates low to stimulate growth, which will ultimately lead to a weaker dollar and higher inflation," said David Beahm, vice president in economic research at Blanchard & Co. in New Orleans.

Combined with demand from central banks, the continued drop in the U.S. dollar "is a great recipe for gold," he said.

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By Bonnie Kristian at 12:11PM

Oct 14, 2009

Dollar loses reserve status to yen & euro

From the NY Post:

Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency....

Bernanke could go down in economic history as the man who killed the greenback on the operating table.
After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.

"He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."

Read the rest here.

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By John Galt at 5:35PM

Oct 6, 2009

The Dollar, Gold, and Oil

Although the original article has been publicly discredited by figures such as Saudi Central Bank Governor Muhammad al-Jassar and Japanese Finance Minister Hirohisa Fujiich, I find it worthwhile to discuss the claims that were made and the responses to those claims.

Supposedly, "secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars." The alternatives being discussed include the "Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council."

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