I am frightened by US monetary policy. I am no expert but common sense says you can’t just keep printing more to pay for reckless spending. My wife says I am crazy.
Here is a related excerpt from a website explaining the top things the media is not telling us:
The de-valuation of the dollar.
According to the U.S. Department of Treasury, since Sept. 2006 the national debt has been increasing by $1.47 billion a day. Our national debt is currently over $9 trillion. For the last two years, the Congress voted to raise the national debt ceiling. They did this to allow the federal government to continue making interest payments on our foreign loans...Basically, so that China and Saudi Arabia would not repossess the country!
It is very easy to blame current energy prices on malevolent Arabs or sky-rocketing home prices on greedy developers. However, we must face the fact that because of runaway spending, our dollar will simply not buy as much as it would a few years ago.
In November 2005, the Federal reserve announced it would no longer publish the M3 money aggregate (the worldwide total U.S. dollar supply). Their press release claimed: "the costs of collecting the underlying data and publishing M3 outweigh the benefits." The announcement received absolutely no coverage from the mainstream news media.
The federal government is printing up money at unprecedented rates just to keep up with Bush's spending habits. The unconscionable behavior is now de-valuing our currency and it will eventually spell disaster for all Americans.
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