From the March 2005 Idaho Observer:
Economic trends indicate looming death of U.S. dollar
The most successful economy in world history is now drowning in public and private debt. What happened?
Since the U.S. emerged from WWII as the "good guys" who saved the world from Hitler and Hirohito, the U.S. dollar has been the "currency" against which all other currencies were measured for strength and stability. American "greenbacks" were adopted as the world’s "reserve currency" and universally used to monetize crude oil—the most important commodity of the 20th century.
In just 60 years, the U.S. has fallen from international grace. No longer revered as the defenders of freedom, the U.S. (and its only remaining ally Israel) is reviled internationally as an aggressor nation. During the same period, the U.S. has been transformed from the world’s most generous creditor nation to the world’s most indebted nation (-$7.8 trillion and counting).
The combination of belligerence and economic weakness has placed the U.S. in a very tenuous position: The sale of treasury notes to foreign investors, which has kept the U.S. economy afloat for the last three years, is slowing down and countries such as China, Japan and South Korea have begun selling off the estimated $2.67 trillion in U.S. bonds held globally. The community of nations is also restructuring its relations to diminish U.S. access to offshore resources and to protect themselves from U.S. military aggression.
Further compromising U.S. economic viability is its crumbling social, political and economic infrastructures. Rather than prioritize rebuilding our own nation, the Bush administration appears determined to destroy other nations.
General Accounting Office Director David Walker stated Feb. 23, 2005, that the U.S. is in an immediate fiscal emergency that will become an uncontrollable crisis by 2008. See related story page 9.
The All Seeing Eye
Most Americans pass Federal Reserve notes without contemplating the symbols contained within its masterfully intricate design. Above the all-seeing eye pictured here are the words "ANNUIT COEPTIS" or "God has favored our undertaking." Below the unfinished pyramid (marked 1776 in Roman numerals) are the words "NOVUS ORDO SECLORUM" or "A new order has begun." Has a (new) new order now begun?
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