Devalued Dollar

We have talked quite a bit about the danger to our nation of a collapsing dollar. So I won't go back into the total explanation. Just a quick review....you can't just print more paper dollars in an unlimited amount or very soon, you won't be able to give them away...forget about trying to spend them on anything you actually need.

Today, this article was front and center on Google News;

The dollar has come under attack from abroad as the economic crisis has played out, thanks to the Federal Reserve's decision to flood a seized-up financial system with liquidity last fall. The central bank's moves likely staved off deflation, but the massive influx of new dollars has devalued existing ones. Foreign nations are worried that the massive U.S. national debt and rising deficits are not being addressed. And though inflation is not yet a concern in the United States, a prolonged slide in the dollar's value could lead to higher prices for consumers.

Further, large emerging economies -- such as China, Russia, Brazil and India -- are tired of kow-towing to the American buck, and sense an opportunity to knock a weakened dollar off its imperial perch.

Read it here; http://www.washingtonpost.com/wp-dyn/content/article/2009/10/06/AR2009100603818.html

What a tragedy....that this great Christian nation that was created to be salt and light...has literally drowned in our own insatiable desire to acquire stuff.

"The borrower will become slave to the lender"....says God.