Erie County
Patriot
"Eternal Vigilance is the Price of Liberty."
|
A News and Opinion Journal ~ Published in Erie County, Pennsylvania
Online
INSIDE: Congressman Ron Paul / Col. Donn De Grand Pre / Chuck Baldwin
...AND MUCH MORE
Erie County
© Copyright 2007 Erie County Patriot
|
ERIE COUNTY PATRIOT COMMITTED TO RESTORING LIMITED, CONSTITUTIONAL GOVERNMENT
|
Republicans and “Free Market” Zealots Bring
Death To America
Paul Craig Roberts
News and Opinion
We the People...
By TIM HAGBERG
3rd District U.S. House of Representatives
Candidate


13/03/08 "ICH" -- -- March 12. Crude oil for April delivery hit $110 per barrel.
The US dollar fell to a new low against the Euro. It now takes $1.55 to purchase
one Euro.
These new highs against the dollar are the ongoing story of the collapse of the
US dollar as world reserve currency and corresponding collapse of American
power.
Each new decision from the insane Bush Regime pushes the dollar a little
further along to oblivion. The same Fed announcement that boosted the stock
market on March 11 sent the dollar reeling and the price of oil up. The Fed’s
announcement that it and other central banks are going to deal with the
derivative crisis by monetizing $200 billion of the troubled instruments signaled
more dollar inflation.
Of course, something needed to be done to forestall an implosion of the
financial system, but a less costly alternative was at hand. The mark-to-market
rule could have been suspended in order to halt the forced sale and write down
of assets and to provide time in which to sort out derivative values, which are
higher than the fire sale prices.
Read entire article