RiskAverseAlert

The Destruction of the Dollar: It's Nearly Inevitable

Debt is never really an issue. Rather, the issue is how it is applied to physical processes that venture to increase the productive powers of mankind's labor. That is why the current crisis likely will be solved in a fashion resembling the way by which Alexander Hamilton resuscitated the Continental Congress following the defeat of the British Empire by the United States of America in 1783, thereby laying the groundwork for the Constitutional Republic the nation became in 1789.

We are in the dying days of an imperialist monetarist system that has existed in some form or another for thousands of years. The beginning days of a global credit system along lines established by Hamilton and nearly put in place worldwide at the conclusion of the second world war are upon us.

Your thinking is much too contained inside the box. Certainly the United States legitimately owes a great deal on what has been loaned to the nation and unwisely spent. Yet the only way this legitimate debt is going to be fairly paid back is along lines suggested here. Too many repugnant, colonialist adventures have been unwisely pursued in recent times for the nation to be suckered into the only other alternative: all out war for the purpose of reneging -- stealing -- what is rightly owed. The people simply are in no mood after having been swindled for so many years, wittingly or not, by those whose Ivy League educations have proven no more valuable than the presently bankrupt Federal Reserve. Likewise, there simply are not enough aircraft in the world, nor enough poisons to jam down our throat that could bring a change of heart.

You see, I AM a protectionist. I believe the U.S. deserves everything put forward in the simple, single-sentence Preamble to its Constitution. This runs contrary to everything we are experiencing, which you think we deserve. So, per your being short Treasuries, let it be known there are real Americans (unlike this treasonous hack Bernanke) who will defend the dollar and the Treasury, who understand how these are under attack by enemies both internal and external, and who kindly ask those too afraid to step outside the box if they might find the dignity within themselves to open their minds and simply listen. Truth is only some small number of people in Congress is all that need be changed for the world to be reborn in the spirit of the American Revolution. The choice we presently face goes way beyond anything you are suggesting. It is between peace and human dignity versus physical breakdown and war. The matter is that serious. Don't kid yourself to think there aren't interests pushing for the latter in these, the dying days of their bankrupt imperialist monetarist system.

The Intrinsic Value of Nothing, Part 1

First, I believe a dollar has "value" not because "the government" says so, but rather because organized government representing the will of a sovereign people makes it so. Indeed, constitutionally, the U.S. government is charged with the means for doing so: this via extension of credit whose practical worth is backed by robust physical processes serving human needs whose very being, itself, was affected by the same, organized application of national credit. Government neither "says" nor "decrees" anything lending value to currency. Rather it is through action affecting the uplifting of human creative potential that brings a currency its intrinsic value.

That said, I agree the "elaborate fiasco called quantitative easing" is doomed to fail. Yet that we have among us the blind leading the blind into a ditch is not necessarily a bad thing. How else might wiser minds gain the path of least resistance in rising to the top?

Still, sir, I have said this before in this forum and I should say it again: the Austrian school is one whose principles best suit a fascist social arrangement, whereas a Hamiltonian credit system best suits a nation whose foundational principle seeks to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare and secure the Blessings of Liberty to ourselves and our Posterity.