Dead Presidents: Taking the Dollar at Face Value
by Joseph Farah, founder WND.com
Feb. 22, 2011
"Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." -GEORGE WASHINGTON, in letter to J. Bowen, Rhode Island, Jan. 9, 1787
Today should be a holiday.
Instead, the once-celebrated birthday of George Washington, the Father of our Country, was in 1971 amalgamated into Monday's “Presidents' Day” to honor America's Greatest – Washington, Jefferson, and Lincoln – along with our not-so-great Presidents like Millard Fillmore.
The same breed of politicians eager to diminish George Washington and the values he stood for are today destroying his best-known image – his face on the dollar bill.
THE TWO-CENT DOLLAR
After almost a century of inflation, today's dollar has less than 2 cents of the purchasing power that it had in 1913 when the Federal Reserve Board was founded.
The dollar in 1913 was backed by gold, as the Founders including Washington specified, in keeping with the Good Book's standard for money.
But that effectively changed in 1933 when President Franklin D. Roosevelt made ownership of gold bullion illegal in the U.S., and in 1971 when President Richard Nixon severed the last anchor of dollar convertibility into gold for foreign banks.
No longer constrained from printing all the easy money they wanted after 1971, the politicians started putting “In God We Trust” on paper dollars at about the same time they removed our currency's golden handcuffs that prohibited inflating the dollar.
Now the world is rapidly losing faith in our anchorless “faith-based,” debased currency, and with good reason.
CONJURING MONEY
In the past two years our politicians have conjured $4 Trillion out of thin air. Fed Chair Ben Bernanke's Quantitative Easing 2 (QE2) is adding another $600 Billion – double the total number of physical paper dollars now circulating in the United States. The Congressional Budget Office days ago projected that
2011 will enlarge the deficit by another $1.48 Trillion.
And every one of these new paper fiat dollars steals value from the dollars you earn and save. Food cost inflation is already skyrocketing overseas, causing the riots that toppled a government in Tunisia and setting in motion falling dominos in Egypt and the Persian Gulf oil sheikdoms. Food prices will soon soar here, too.
Our politicians printing trillions of dollars is a major factor in global inflation and instability. Because economic strength and military might were the two legs on which America once stood tall, the fast-approaching crash of the dollar will end our prosperity at home and create a power vacuum that fanatics can fill in other countries such as nuclear-armed Pakistan.
Avoid U.S. Dollar's "Death of a Thousand Cuts"
“The U.S. Dollar is dying a death of a thousand cuts, largely because our politicians refuse to cut their spending and money-printing,” says Craig R. Smith, author of Crashing the Dollar: How to Survive a Global Currency Collapse.
“Days ago the International Monetary Fund called for replacing the U.S. Dollar as the world's Reserve Currency,” says Smith. “That would severely undermine our economy, send prices here through the roof, and greatly weaken America's worldwide power for good.”
WHAT WOULD GEORGE WASHINGTON DO?
What can we do to honor and restore the values and great nation George Washington stood for?
"Millions of Americans agree that the U.S. Dollar is going down," says Smith.
"Those fiat Federal Reserve Notes nicknamed 'Dead Presidents' for the faces on most of them are going to die when their value soon crashes to zero. But we can all help keep alive the values George Washington stood for and the nation he risked his life to create. We can help keep George Washington alive.”
"People recognize that the soaring price of gold is really the falling value of the paper U.S. Dollar. They are diversifying their portfolios to include gold, which will retain its value whatever new currency the world turns to."
"People need to know that some ways of investing in gold can be a lot smarter than others...," says Smith. “I wrote Crashing the Dollar to empower people with information that can help protect their families and restore the America of our Founders like Washington.”
"Crashing the Dollar crackles with the page-turning excitement of a spy novel or murder mystery as it tracks down who is killing the Dollar," says one of scores of rave book reviews.
To help prepare WND readers for the dollar's demise and help them survive and thrive through what's coming, I have a very special offer.
Now is the time to understand why gold, not paper dollars, is the only safe currency on Earth.
