The Federal Reserve has for many years no longer backed currency with gold or silver, and as a private corporation it's free to make profits off its transactions and interest charges. In fact part of the U.S.'s national debt is actually owed to the Federal Reserve. This rampaging system has lowered the standard of living for most Americans and robs people of their money through inflation
"The Federal Reserve has for many years no longer backed currency with gold or silver, and as a private corporation it's free to make profits off its transactions and interest charges."
Could not have said it better myself. The problem is, people nowadays hear something on CNBC or some other talking head show, and believe it on face value. If they would do their homework, they would see how this country has put its self into a major debt hole. And the President wants to put us even further in the hold. (Not a political statement)
As a country, you can not keep giving tax breaks and lowering taxes. It will not add up. I would like to just have the politicians stop spending every nickel they see, and start saving some money. Until that happens, we will always be in debt. (Yes, a political statement)
"That was not his statement. What you are saying is true along with the leftest moron George Soros. Your statement is true. But again, this was not his question. Learn to read before attacking."
So, let me get this straight. You say I am right, but to learn to read before attacking?
The dollar is down against almost all major currencies. Has been for some time. That is why GM builds its Cadillacs out of the Mitsubish plant in the U.S., along with other car makers. It is too expensive to ship to the U.S. with the weak dollar and the high Euro.
It is a widely known fact that China is stocking up on Euros and abandoning the dollar, just lile every other country. We are so far in debt, and are going ever deeper. What is there to prop up our economy to keep the dollar valuable?