Godlike Productions - Reply to Thread

Users Online Now: 1,528 (Who's On?)	Visitors Today: 101,610
Pageviews Today: 138,529	Threads Today: 72	Posts Today: 606
01:09 AM

REPLY TO THREAD

Subject Ron Paul: The only way the dollar can remain the world's reserve currency

User Name

Font color: Font:

In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.

Original Message From Ron Paul:

We frequently hear the financial press refer to the U.S. dollar as the "world's reserve currency," implying that our dollar will always retain its value in an ever shifting world economy. But this is a dangerous and mistaken assumption.

Since August 15, 1971, when President Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold, the U.S. dollar has operated as a pure fiat currency. This means the dollar became an article of faith in the continued stability and might of the U.S. government.

In essence, we declared our insolvency in 1971. Everyone recognized some other monetary system had to be devised…

[link to paul.house.gov]

Pictures (click to insert)





\| Next Page >>