Is Bernanke destroying the dollar deliberately?

Question

I think this is the clear case ---and the only motive is to roll out a new currency for the American people---the much talked about Amero. Think about it---if the currency which we have all been so proud of is totally decimated 1980's-peso style, then the "promised land" of a new currency is the only solution and the dastardly technique of the American people giving up their own sovereignty deliberately and amidst cheers.

Answer 1

I don't normally do this, but I'm going to have to agree with Spock on this one. I would add one more thing though: a presidential EO that would order the Congress to once again resume its Constitutional duty of being the only legal body with authority to coin our money. They should print American dollars and pay about $6 trillion into the economy interest-free so the American public is not indebted to foreign banking interests who own so much of our "debt currency", and thus are able to hold so much political clout with our own government.

As Mayer Amschel Rothchilds said, "Permit me to control a nations currency, and I care not who makes its laws", and anyone -ANYONE- who thinks this isn't exactly what's been going on since the passage of the Federal Reserve Act of 1917 is either willfully blind or willfully...blind.

Answer 2

more garbage.

The "amero" is someone's ugly dream.

why is the dollar going down?  Congress.

When America goes back to producing more energy at home [as we did regularly before 1980], our energy imports will fall.  This will depress world oil prices, lower the cost of gasoline, lower inflation, and lower our trade deficit.

Do enough more energy production and we'll have a trade surplus again and then the dollar will go up.

but Congress seems to have surrendered to the green lobby and their anti-America campaign.

Answer 3

I see no likely connection to a new currency with a different name. If the dollar gets too badly trashed by inflation, I would expect a "new dollar" with a value equivalent to the old one times some power of 10. Maybe this "Amero" is "much talked about" somewhere, but not by anyone I've heard or read, and I pay considerable attention to newspapers including the business section.

I also don't think that the recent inflation hit on the dollar is directly planned, although the entire history of the current administration seems to be following the usual Nixon-and-following Republican custom of mild inflation to create the appearance of a boom, and to give any succeeding Democratic administration a mess to clean up.

Bernanke's problem appears to be shoring up a crumbling business infrastructure which has had its foundation eroded by investments in predatory mortgage markets. I do think that the focus on that has led to deliberate winking at clear evidence of inflation, but then I do most of the shopping for my own groceries, so I know something about prices that seems to have been left out of reports he's received.

Eliot Spitzer (see my Source listing) has said that the administration deliberately prevented states from taking action to control the predatory lending problem.

And it's possible that someone in the administration has promoted inflation as the cheap way out of the Social Security crunch: You've spent all the money you collected to cover future payments? Hey, no problem! pay it back in waste paper. (As if those of us who paid double FICA taxes for years didn't see THAT coming!)

But as far as the more extensive conspiracy theories go, I have to say that these people do not seem to me to be that smart, and if they were, I think they'd have to be smart enough to see that it really doesn't do them any good. "Never attribute to malice what can be adequately explained by stupidity"; I believe they operate on visions of short-term results rather than long-term consequences, and that they get all their support from business interests because the people running businesses operate that way, too.

Answer 4

You got a good point, nobody wants to talk about.

Bernanke is working for Bush, to save his backside, not for the long term benefit of the people of the USA.

The USA is in trouble, because it spends 35% of its entire tax income on military and wars, which has destroyed our econmy and made a few rich.

10 Trillion natioanl debt hurts big time and the trade deficit is out of control.

We should get a hard recession, clear air and get realistic with our expectations, instead our economy is lingering since 1999 in a state of total stagnation.

Answer 5

It's not him.  He is, however, taking us back to where Greenspan had us as far as interest rates go. Low rates for borrowing means low rates for saving, too. People are deluded who think they can borrow for 5% and get 7% on their saving. that would create a negative interest rate spread which would bankrupt the banks. Since banks are making more money than the oil industry, or Microsoft, or any other industry you can name, just imagine the ripple effect on the economy.  Our devalued dollar is going to make imported goods - like oil - cost more. Canada, our #1 exporter of oil to the US, is going to be booming. If only their health care system wasn't such a mess....

Answer 6

the dollar slide began long before bernanke.

Answer 7

No, he isn't.  The Fed Chairman has a very difficult job.  It is a balancing act.  Reducing the lending rate to banks means they can borrow more money for less.  They in turn are suppose to loan more to the public for their different needs, homes, businesses, etc.  He has to spur the economy to keep it growing but not too fast.  If he reduces the rate too fast and too much, the dollar weakens because there are more dollars out in the market.    

Your other Amero topic is very interesting.  Are we ready for a currency for this continent?  Probably not.  Considering we have very rich and very poor countries it would be difficult.  The smaller countries would have some serious inflationary problems.  Maybe a Mexican, US and Canadian currency might be plausible, but not likely in our lifetimes.  

As the ecomonic center moves across the atlantic we will continue to see a devalued dollar.  The Euro will continue to out pace the dollar.