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« Why a liberal radio talk show will never make the big-time in America | Main | An Eye any Eye »
Thursday
Nov042004

The not so mighty dollar

The Dollar is now the standard on which all currency on the planet is rated. However, the dollar has dropped in value and if this continues, some other currency may replace the Dollar as the standard currency. Other countries have been financing our huge debt load because as the standard, the Dollar was bullet proof since it could be traded in any country. For example when traveling you can spend a us dollar any where even when you can't use a neighboring country's currency shopkeepers and local people will gladly accept a greenback.  When Despots and dictators steal money from their countries and hide it the dollar is the currency they loot from their treasuries. However, that is about to change the dollar is declining in value. Moreover, if we do not do something to stop it the world will look for a stable currency.  Every time congress raises the debt, ceiling the value of the dollar drops. The debt ceiling is going to be raised again to finance the tax break President Bush has just signed into law. If the dollar stops being the currency standard the countries now eager to buy our debt will not only stop lending but will start calling for payment.  we where once on the right course four years ago the pay as you go policies of President Clinton left us with a surplus President Bush pissed it away between the war and the tax cuts this president is the only man stupid enough to cut taxes during an escalating war.

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