Re: Acceptance, The Gold Standard

 

Another post worth repeating!

Virtualtruth@aol.com wrote:

Subj: Acceptance, The Gold Standard
Date: 12/30/2003
To: Virtualtruth@aol.com, apgamerican@groups.aol.com



As anyone who has read my posts will attest I am a vocal individual when it comes to my opinion.

Right now we are in Iraq for the duration, for better or worse. I believe if the outcome should be negative, no WMDs or connection to the 9/11 terrorists, World opinion will not be against the American people or this country, but against the Bush administration.

The flip side would be a tremendous boost to the Administration. Should irrefutable evidence of a connection between the 9/11 terrorists and Saddam's active participation to aide, arm and facilitate this attack, Bush will win in a landslide.

The finding of WMDs in and of itself would not be enough however to justify the war, and the expenditure of men, money and resources if no connection to bin-Laden is made.

Far worst, if the United States should sustain an attack from al-Quada, this could mean a substantial and irreconcilable error for the administration, especially if no tie to bin-Laden, Saddam and WMDs is established.

Other concerns are looming in the distance, Wall Street is rebounding, but this may not translate to the economy.

We are facing a number of factors that can stop the recovery from happening.

If the falling dollar continues unabated, confidence in investing in American Markets will dissipate. Any returns Foreign Investors will receive in the US Stock Markets or other monetary US investments will be negated by the currency differential. Add to this the need to finance our growing National Debt by foreign investors and you begin to see a huge precipice just ahead. If the fall of the dollar is not curtailed soon, the need to raise rates and lower initial Bond price offerings will occur so that foreigners will be enticed to buy our Bonds. This increase of rates could put a quick end to this recovery. With no recovery, a lower tax base due to the recent cuts, the largest deficit spending in history, and unfunded or underfunded liabilities such as Social Security and Medicare benefits for the Baby Boomers and you have the making for problems for the American people and the consumer.

In the past this was not a problem because the US economy was the engine for the world. This is no longer the case. Jobs run the engine and we have been exporting jobs to the new rising engine in the English speaking countries in the Asian Hemisphere. In the pass we only exported the low paying manufacturing jobs, but now we export the higher earning electronic manufacturing, technical service and customer service jobs.

Ultimately this will mean a lowering of the standard of living for Americans in an effort to be competitive in the World job market. This will mean even less money for the Government in the form of taxes. Also the issue of tax collection for the large multinationals occurs. Multinationals can effectively move their domicile to a tax friendly country paying a majority of their taxes there and place business components through out the world as it becomes bottom line appropriate.

This is just one Scenario. It need not occur. Speaking about it, helps it not happen.

There is a reason Gold is going up.

If people only knew the facts, they would not be fighting for the 'RIGHT' to be screwed over.

Nixon 1973:  "I am not a crook!"
Clinton 1998 wagging finger: "I did not have sex with that woman!"
Bush 2005 wagging finger:  "I did nothing illegal!"

+ $1,899,522,392,147 Social Security Trust Fund.
– $8,367,894,586,992 The Gross National Debt
$3,231,274,298,946.38 in foreign oil

Time will tell all the Truth.
VT

Sean Lewis/VirtualTruth/VT
Founder AOL Group OpenDebateForum
Founder Google Group Open Debate Political Forum IMHO
Founder of Blog Sean Lewis's Virtual Truth
Creator of Web Site The Center of Virtual Truth

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If people only knew the facts, they would not be fighting for the 'RIGHT' to be screwed over.

Nixon 1973:  "I am not a crook!"
Clinton 1998 wagging finger: "I did not have sex with that woman!"
Bush 2005 wagging finger:  "I did nothing illegal!"

+ $1,899,522,392,147 Social Security Trust Fund.
– $8,367,894,586,992 The Gross National Debt
$3,231,274,298,946.38 in foreign oil

Time will tell all the Truth.
VT

Sean Lewis/VirtualTruth/VT
Founder AOL Group OpenDebateForum
Founder Google Group Open Debate Political Forum IMHO
Founder of Blog Sean Lewis's Virtual Truth
Creator of Web Site The Center of Virtual Truth