Posted on 11/10/2009 7:54:23 AM PST by FromLori
In the current fiscal year alone, the U.S. Congress and the administration have created a federal deficit of $1.4 trillion — more than TRIPLE the size of America's largest deficit in history. Worse, they now admit that the cumulative deficits through 2019 will be at least $9 trillion, and that they have no plan in place to reduce this monster in our midst.
This is the greatest threat to your financial future of all time. As experts like Warren Buffett have noted, the only way Washington politicians know how to solve the debt crisis is by creating inflation. They are unable to raise taxes. They can't seem to cut back on government handouts. And so Buffett concludes they will “opt for high rates of inflation, which never require a recorded vote and cannot be attributed to a specific action that any elected official takes.”
Stand for the Dollar… Stand for Your Investments! For citizen-investors like you, inflation is the “thief in the night,” stealing away the value of your stocks, bonds, and insurance policies ... eroding the purchasing power of your dollar ... gutting the value of your bank balances, brokerage account, IRA and 401(k). That’s why Dr. Martin Weiss and the Sound Dollar Committee have launched this Citizen Petition for a Sound Dollar.
Without a sound dollar, there will be no long-term recovery. Inflationary policies will rob you of your wealth while rewarding big banks for their speculative excesses and protecting politicians from the consequences of their irresponsible policies. Please sign this Citizen Petition calling on Congress and the Obama Administration to “cease and desist” the reckless policies that are destroying the dollar and your investments.
The Petition States: As a citizen-investor in this nation, I am calling for an immediate plan and timetable to dramatically slash the $9 trillion in deficits expected through 2019. Without this plan, the federal debt will grow to 100% of the U.S. Gross Domestic Product over the next decade — a truly unprecedented level of peacetime debt that is already undermining the value of the U.S. Dollar. In addition, I urge our nation’s leaders to actively support policies that will keep the U.S. dollar as the world’s reserve currency. Efforts to replace the dollar in that all important role ultimately undermine our nation’s money and economy.
Too late - - the ship's already hit the iceberg - just hasn't sunk ... yet.
This petition has zero chance of making any difference.
Ironic, given that he is as responsible as any man for the political fools in Washington.
Very true I refer to him as bo’s welfare queen.
“This petition has zero chance of making any difference.”
Took the words outta my mouth. A sound dollar would just bankrupt the US faster than the track we’re already on.
We are so hosed.
“This petition has zero chance of making any difference.”
Took the words outta my mouth. A sound dollar would just bankrupt the US faster than the track we’re already on.
We are so hosed.
So, what is the investment advise to protect us?
(besides gold)
Inflation protected securities(TIPS)from the Treasury;
Foreign stocks like Philip Morris International;
Silver;
Other commodities;
There are certain ETFs that you can pick from that accomplish all of the above and more.
We have been exporting the dollar for 10 years of deficit trade deals. We can only survive by making the dollar worth less and less.
Thanks
Apparently he thinks we are still going to be burning coal.
Nice gig if you have the cash - buy a politician to talk down your potential investments and then swoop in when the stock price falls.
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