"The Inevitable Collapse of the Dollar"
- added May 9, 2008
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A short video by YouTube.com user GHoeberX covering America's unsustainable pattern of economic growth and the consequences of the path that we're on.
"We must borrow $3 billion from foreigners every business day to maintain our extravagent spending. Our national debt now is increasing $600 billion per year, and guess what, we print over $600 billion per year to keep the charade going. But there is a limit and I fear we are fast approaching it." ~ Congressman Ron Paul, M.D.
"Foreign interests have more control over the US economy than Americans, leaving the country in a state that is financially imprudent. More and more of our debt is held by foreign countries – some of which are our allies and some are not. The huge holdings of American government debt by countries such as China and Saudi Arabia could leave a powerful financial weapon in the hands of countries that may be hostile to US corporate and diplomatic interests.” ~ David Walker, US Comptroller General
"There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved." ~Ludwig von Mises
Recommended reading;
The Dollar Crisis, Richard Duncan
Crashproof: How to Profit from the Coming Economic Collapse, Peter Schiff
The Collapse of the Dollar and How to Profit From It, James Turk & John Rubino
A Bull In China, Jim Rogers
The Revolution: A Manifesto, Ron Paul
"We must borrow $3 billion from foreigners every business day to maintain our extravagent spending. Our national debt now is increasing $600 billion per year, and guess what, we print over $600 billion per year to keep the charade going. But there is a limit and I fear we are fast approaching it." ~ Congressman Ron Paul, M.D.
"Foreign interests have more control over the US economy than Americans, leaving the country in a state that is financially imprudent. More and more of our debt is held by foreign countries – some of which are our allies and some are not. The huge holdings of American government debt by countries such as China and Saudi Arabia could leave a powerful financial weapon in the hands of countries that may be hostile to US corporate and diplomatic interests.” ~ David Walker, US Comptroller General
"There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved." ~Ludwig von Mises
Recommended reading;
The Dollar Crisis, Richard Duncan
Crashproof: How to Profit from the Coming Economic Collapse, Peter Schiff
The Collapse of the Dollar and How to Profit From It, James Turk & John Rubino
A Bull In China, Jim Rogers
The Revolution: A Manifesto, Ron Paul
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