The first paragraph is repeated from yesterday's post for continuity.
Weimar Inflation in America (continued)
Sadly, the problems of
AP explains how some Americans are trying to cope with the ravages of inflation: “To meet higher gas, food and prescription drug bills, they are selling off grandmother's dishes and their own belongings. Some of the household purging has been extremely painful - families forced to part with heirlooms.” It is indeed no doubt painful, just as it was for the Germans in the photograph above, who surely must have been putting on a brave face for the photographer.
Confirmation of the AP story came a few days later on May 14th from an article in the Washington Post, which reported: “Nearly seven in 10 Americans are worried about maintaining their standard of living, as concern has spiked higher in just the past five months, according to a new Washington Post-ABC News poll. Soaring consumer prices are a major challenge, with many people struggling under the weight of the rising costs of fuel, food and health care. The poll shows that the weak economy and rising prices are high among voters' concerns, and contribute to a souring national mood in this presidential election year. More than eight in 10 said the country has veered pretty seriously off-track, and a separate poll released yesterday by ABC showed economic anxiety at its highest level on record since 1981. Overall, 68 percent of people surveyed in the new Post-ABC poll said they were concerned about their ability to keep up their lifestyles, a jump of 17 percentage points since December. The increase cuts across party and income lines.”
Crude oil is $132. Corn is $6. The cost of everything is rising. Inflation is worsening, and it’s not hard to understand why. M3, the total quantity of dollars, is now growing by 17% per annum.
The Federal Reserve is following the footsteps of the central bank in
This insight about the importance of gold and shortcomings of fiat currency is not suprising, nor is it new. Here is what Rep. Howard Buffett, father of Wall Street legend Warren Buffett, had to say on May 4, 1948. “Our finances will never be brought into order until Congress is compelled to do so. Making our money redeemable in gold will create this compulsion.”
Absent that compulsion, the dollar is going the way of the Reichsmark. Don’t count on the
James Turk, May 28, 2008
This of course, is simply another warning. There have been many. At this point, I believe it is only a matter of time before the collapse of the US dollar becomes history. In its place, the US government will offer a new currency, the Amero. This will be the combined currency (like the Euro) for the North American Union, made up of Canada, the United States, and Mexico. (For more information on this topic, please refer to the post in this blog from Monday, April 21, 2008.)
When exactly this will happen is known only to those that are involved in the plan to do this. Some have guessed that it will happen as early as September, 2008. Others have predicted that this will happen in 2012. Time will tell. The question is "Will you be prepared?".
If all of your assets are based in US dollars, can you handle the devaluation? If the conversion to the Amero has a negative ratio, can you survive? Don't be caught unaware. Be prepared.
As always, the choice is yours.
What if God, choosing to show his wrath and make his power known, bore with great patience the objects of his wrath—prepared for destruction? What if he did this to make the riches of his glory known to the objects of his mercy, whom he prepared in advance for glory. Romans 9:22-23 (NIV)
If you have comments or questions, please feel free to contact me at the address below.
Email: DeltaInspire@panama-vo.com
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