The Plunge of the Dollar

The one thing that will bring this nation to it’s knees is the collapse of the dollar, and the politicians in Washington couldn’t care less about the situation.

From the AP:

NEW YORK (AP) – The dollar kept falling Friday, notching fresh multimonth lows against the euro, pound and yen as a warning that Britain’s debt level may result in its credit rating being cut ricocheted into worries about the massive U.S. deficit.

The 16-nation euro rose to $1.4015 in morning trading from $1.3889 in New York late Thursday—its first time above $1.40 since Jan. 2.

It is hard to sit by and watch the disregard leaders in our government have for this crisis. This issue is paramount on a scale that has not been seen before. We are losing our ability to convince other nations of our stature.

This is exaclty what happens when you entrust a National Bank like the Federal Reserve with so much power. They disregard any kind of sensibility and print money like it is coming off trees.

Is Obama going to fix this? Probably not, he will just make the situation even worse by running up the budget deficit and the national debt.

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