Saturday, April 16, 2011
The Dollar is Collapsing, just look at commodies!
This was sent to me by an aquaintence that has over 50,000 ounces of silver. He started buying at $12/oz. The market closed at $43.05 yesterday. It's my belief that until Congress can reign in it's deficit spending and pay off our national debt, the Federal Reserve Bank will continue to print money for them to pay their bills with, effectively destroying the dollar. Since the inception of the Federal Reserve Banking system in the USA, the purchasing power of the dollar has declined by 97%. Remember penny candy? It's not gone because it got expensive, it's gone because the Fed has flooded the market place with dollars. This is the true cause of inflation. And in the case of savings, it's theft. If the Fed increases the money supply by 5% and your bank pays 1% on your savings, they have effectively stolen 4% of your purchasing power.