Devaluation of Dollar- – This Web Report is part of a series of web reports from Freedomist.com about Ron Paul’s landmark hearing on the Federal Reserve held March 17, 2011, with two members of http://thegoldstandardnow.com testifying, James Grant and Lewis Lehrman.
The Federal Reserve has been betting on a weak dollar, the intentional devaluation of the dollar through the printing of trillions of dollars to allow the Federal Government to spend its way out of debt. Now, these policies are finally getting scrutiny, though the democrat party is so afraid of ending their free and easy access to these magic dollars (to fund their social engineering programs) that they actually boycotted the landmark hearings held recently by Ron Paul, hearings that have shed new light on the unchecked policies of a Federal Reserve that has no accountability to the people for whom its policies most heavily fall (and ultimately pay for):
These are the most significant monetary policy hearings in at least a generation, probably in 40 years, possibly in our lifetimes.
Lewis E. Lehrman’s statement and testimony included:
- Monetary Policy, the Federal Reserve, the Budget Deficit and Inflation
- The Monetary Problem and its Solution in Historical Perspective
Inequality of wealth and privilege in American society is intensified by the Fed-induced inflationary process. The subsidized banking and financial community, combined with an overvalued dollar — underwritten by China — have also submerged the manufacturing sector, dependent as it is on goods traded in a competitive world market. In a word, the government deficit and the Federal Reserve work hand in hand, perhaps unintentionally, to undermine the essential equity and comity necessary in a constitutional republic. Equal opportunity and the harmony of the American community cannot survive perennial inflation.
If the defect is inflation and an unstable dollar, what is the remedy?
A dollar convertible to gold would provide the necessary Federal Reserve discipline to secure the long term value of middle income savings, to backstop the drive for a balanced budget. The gold standard would terminate the world dollar standard, by prohibiting official dollar reserves, and the special access of the government and the financial class to limitless cheap Fed and foreign credit.
This is the video from a part of that hearing:
More from http://www.thegoldstandardnow.org on Devaluation of Dollar
1. Hearings before the House Subcommittee on Domestic Monetary Policy
(Golden Nugget/Key Blogs)
… of recovery, the real effect of the Fed’s money printing has been monetization of America’s exploding fiscal deficits, devaluation of the dollar, and creation of inflation in asset prices across the board. As .
2. The Curse of Being a Reserve Currency
(Key Writings/John D. Mueller)
… from 1928 to 1932, when virtually all the world’s official foreign exchange reserves were wiped out, and prices declined to pre-World War I levels). The only alternative is a large devaluation of the reserve …
3. The Curse of Being a Reserve Currency
(Key Writings/Key Monetary Writings)
… to pre-World War I levels). The only alternative is a large devaluation of the reserve currency (Britain in 1931, 1949 and 1967, and the U.S. in the 1970s and late 1980s). The danger is magnified because …
4. Reflections on the Monetary History of the West – 1700-1974
(Key Writings/Key Monetary Writings)
… by reducing the weight of the gold dollar; or as it is incorrectly stated, by raising its price from $20 to $35 per ounce. The effect of this devaluation was, overnight, to collect for the government the …
more on the web on Devaluation of Dollar:
Liberty Maven is a website dedicated to all things liberty related: Ron Paul, free markets, libertarian, conservative, civil liberties, news, original. … Dollar devaluation means that much of the ‘gains’ we see are really just losses by people holding dollars. In other words, if your dollars lose 50% of their value, it’s going to take twice as many of them to buy the same ounce of gold. But the rally is based on more than simple inflation. …
Image: AP The currency wars may be taking a new turn now that the Cuban central bank has devalued its convertible peso (CUC) by 8%,, according to Granma, …
The Business Insider
For example, suppose a government has set 10 units of its currency equal to one dollar. To devalue, it might announce that from now on 20 of its currency …
www.newyorkfed.org › About the Fed › What We Do
Many financial analyses are stating that our dollar will soon be devalued like never before. …
Dolllar Devaluation Dooms Obama Regime? The end of the gold standard drives US dollar down » …
Then after he confiscated bullion from those who disobeyed, he subsequently devalued the dollar by 40%! …
2 days ago by Tim Woltz
The Cuban state has initiated a process of devaluation of its national currency by approximately 8% relative to the US dollar in an effort to invigorate economy. As a consequence, the hard-currency convertible peso that …
13 hours ago by Don Martin, CFP®
Other nations would have competitive devaluations because of their need to generate exports, thus no net devaluation would occur; China would insist that the dollar not be devalued because they don’t want their gigantic …
Apr 2, 2008 by Shotstar
Furthermore, despite the devaluation of the US dollar and the wide foreclosures of a lot of property, the real estate market remains to be stable, though slightly shaky, due to foreign investors’ capital appreciation. …
What Does the USA Dollar Devaluation Mean to You? Yahweh said to Israel that they would perish for a lack of knowledge (Hos. 4:6). Most Americans, no matter their …
The world’s financial powers seem to understand that the U.S. needs to print its way out of this mess. In my Forbes.com column on Dec. 9, 2008, ” Dollar …
History reveals that central bankers are only capable of overheating and underheating.
Devaluation of Dollar
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