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Add You - What's Up With Gold
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Today, the US dollar is no longer backed by gold, the US is the world’s largest debtor, has the world’s largest trade deficit and and the dollar is in danger of col
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In 1950, the US was the world’s richest nation, America owned 75% of the world’s monetary gold, the US dollar was the cornerstone of world trade and was convertible to gold. Today, none of that is true.
Now, most of America’s gold is gone. Between 1949 and 1971, the US spent twice the amount of gold is actually owned. Because the US had a positive balance of trade during that time, US gold supplies should have increased, not disappeared.
Instead, US overseas spending - fighting two wars, one in Korea, the second in Vietnam, and the expansion US multinational corporations overseas – drained the US Treasury of its gold.
Today, the US dollar is no longer backed by gold, the US is the world’s largest debtor, has the world’s largest trade deficit and and the dollar is in danger of coll
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Now, most of America’s gold is gone. Between 1949 and 1971, the US spent twice the amount of gold is actually owned. Because the US had a positive balance of trade during that time, US gold supplies should have increased, not disappeared.
Instead, US overseas spending - fighting two wars, one in Korea, the second in Vietnam, and the expansion US multinational corporations overseas – drained the US Treasury of its gold.
Today, the US dollar is no longer backed by gold, the US is the world’s largest debtor, has the world’s largest trade deficit and and the dollar is in danger of col
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Instead, US overseas spending - fighting two wars, one in Korea, the second in Vietnam, and the expansion US multinational corporations overseas – drained the US Treasury of its gold.
Today, the US dollar is no longer backed by gold, the US is the world’s largest debtor, has the world’s largest trade deficit and and the dollar is in danger of col
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Instead, US overseas spending - fighting two wars, one in Korea, the second in Vietnam, and the expansion US multinational corporations overseas – drained the US Treasury of its gold.
Today, the US dollar is no longer backed by gold, the US is the world’s largest debtor, has the world’s largest trade deficit and and the dollar is in danger of col
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Today, the US dollar is no longer backed by gold, the US is the world’s largest debtor, has the world’s largest trade deficit and and the dollar is in danger of collapsing; and up to 25% of VP Dick Cheney’s money is invested in a fund that goes up when the dollar falls (Kiplinger Magazine May 2006).
While Cheney is dead wrong on Iraq, he’s dead right about the dollar. The rising price of gold reflects the deteriorating state of the dollar and the troubled state of the US economy. The dollar is sinking, inflation is threatening and the price of gold is rising. That’s what’s up with gold.
The US is headed into economic trouble and unless you heed the Boy Scouts motto - Be Prepared – you’re going to be in trouble too.
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