Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Why Are The Republicans So Silent On The Falling Dollar?
Forbes ^ | 04/14/2011 | Seth Lipsky

Posted on 04/14/2011 6:42:19 AM PDT by SeekAndFind

The most astounding feature of the political fray as the 2012 election comes into view is that not a single Republican other than Congressman Ron Paul is stepping forward to brand as his or her own the issue of honest money. The whole party is into the negotiation with the president over the budget, and the underlying issue--the failure of our fiat currency--is up for grabs.

It is true that there's plenty of blame to go around on the dollar. It had a value of 265th of an ounce of gold on the day that George W. Bush acceded to the presidency and was worth less than an 853rd of an ounce of gold on the day he left office. The New York Sun, which supported Mr. Bush in 2000 and 2004 elections, issued in December of 2005 an editorial called "The Bush Dollar," warning of the collapse of the greenback. It had just sunk below a 500th of an ounce of gold.

Today, of course, it is worth barely more than 1,500th of an ounce of gold. The giddiness of the plunge of the dollar really started to be felt in the years after the Democrats acceded to the leadership of the House. At the time the Sun called for renaming the dollar "The Pelosi." The collapse has been so dramatic that the Europeans, the United Nations and even the Chinese communists are talking about the need to create a new international reserve currency. Yet not a single Republican has stepped onto the national stage and declared a run for the presidency on a platform containing the strong dollar as a major plank.

Now that the Republicans are back in control of the House they are in a perfect position to press this issue.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: devaluation; dollar; republicans
Navigation: use the links below to view more comments.
first 1-5051-63 next last

1 posted on 04/14/2011 6:42:26 AM PDT by SeekAndFind
[ Post Reply | Private Reply | View Replies]

To: SeekAndFind

Because they have no solution and don’t know what to say?


2 posted on 04/14/2011 6:43:35 AM PDT by stuartcr (The soul is the .cfg file for the body)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Because they are all socialists and belong to the New World Order.


3 posted on 04/14/2011 6:46:41 AM PDT by stockpirate (Rebellion to tyranny is obedience to God!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
Because they are marxists just like pelosi, reid and obama.

LLS

4 posted on 04/14/2011 6:49:50 AM PDT by LibLieSlayer (WOLVERINES!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

It is beginning to seem as if the GOP has no stones.

Even nancy-boy our president, has more.

Our side is meek. Go-along. Wimpy.

Nobody votes for a wimp. Get off your hands, GOP!! If the press is not angry and attacking you - it doesn’t mean you’re doing things right. It means you have been intimidated into useless silence.

Start to act like you believe in something.


5 posted on 04/14/2011 6:50:36 AM PDT by Cringing Negativism Network (Palin / Trump 2012 - America First)
[ Post Reply | Private Reply | To 1 | View Replies]

To: stockpirate

Why attack him on gas prices like they did to Bush?


6 posted on 04/14/2011 6:51:54 AM PDT by scooby321
[ Post Reply | Private Reply | To 3 | View Replies]

To: SeekAndFind
The most astounding feature of the political fray as the 2012 election comes into view is that not a single Republican other than Congressman Ron Paul is stepping forward to brand as his or her own the issue of honest money.

Americans no longer know what "honest money" is. Since FDR confiscated our gold in 1935, thereby socializing the dollar, generations have grown up knowing only little green pieces of paper that belong to the government. Even FReepers mock the idea of a gold-backed currency.

The socialists have done such a good job at mocking gold as a "barbarous relic" that any politician who comes out in favor of it would be branded a kook.

7 posted on 04/14/2011 6:53:18 AM PDT by BfloGuy
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Sarah has been the only GOP potential as early as last year warned in a posting and speech of the falling dollar and risks involved


8 posted on 04/14/2011 6:53:34 AM PDT by Bigtigermike
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

because they haven’t got a clue what the fed and treasury are up to


9 posted on 04/14/2011 6:55:17 AM PDT by paul51 (11 September 2001 - Never forget)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cringing Negativism Network
Start to act like you believe in something.

Come on, give them a break. They are working hard for what they believe in, to maintain their own power and position.

10 posted on 04/14/2011 6:56:07 AM PDT by Prokopton
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeekAndFind

I used to think that the Republicans had principles and that Democrats were just political hacks. I realized it was exact opposite. Democrats operate on their horrendously depraved principles and GOP doesn’t stand for much of anything other than not quite as bad as Dems. They are not the party of no. GOP is party of not quite so much(just yet).


11 posted on 04/14/2011 6:57:53 AM PDT by all the best
[ Post Reply | Private Reply | To 1 | View Replies]

To: Prokopton

“Come on, give them a break. They are working hard for what they believe in, to maintain their own power and position.”

Ironically, that is what will cost them their power and position.


12 posted on 04/14/2011 6:58:03 AM PDT by brownsfan (D - swift death of the republic, R - lingering death for the republic.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Prokopton

“Come on, give them a break. They are working hard for what they believe in, to maintain their own power and position.”

Nice summary.


13 posted on 04/14/2011 6:59:00 AM PDT by Psalm 144 (Voodoo Republicans - Don't read their lips. Watch their hands.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: SeekAndFind

Because both parties take a different path to the outhouse, but they both dump in the same hole.


14 posted on 04/14/2011 7:01:44 AM PDT by dforest
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Our Dollar has been worth less than the Canadian Dollar for several months now. I don’t ever remember this happening before, at least not for this long.


15 posted on 04/14/2011 7:02:14 AM PDT by Dixie Yooper (Ephesians 6:11)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

This is not true - perhaps not all Republicans are speaking publicly about the declining dollar, but many are - particularly the Tea Party Republicans

on the other hand, not one Democrat is speaking publicly about the dollar.


16 posted on 04/14/2011 7:03:14 AM PDT by PGR88 (I'm so open-minded my brains fell out)
[ Post Reply | Private Reply | To 1 | View Replies]

To: stuartcr

“Because they have no solution and don’t know what to say?”

Helloooooo. The Republicans are not concerned about the falling dollar because they have the same agenda as the Dems. If there is any political fighting it is over who will control the transition to globalism and who gets the payoffs.


17 posted on 04/14/2011 7:04:36 AM PDT by texteacher
[ Post Reply | Private Reply | To 2 | View Replies]

To: SeekAndFind

Why Are Republicans So Silent On The Falling Dollar?

Can u say corruption?

Can you say bought off?

Can you say they worship the Federal Reserver?

Can you say they worship “Free Trade”?

Can you say they are socialist?

Can you say they are gutless?


18 posted on 04/14/2011 7:05:07 AM PDT by swampfox101
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

And ‘raising the debt ceiling’ are code words for devaluing (floating)the dollar even further. Audit the fed!
http://www.rollingstone.com/politics/news/the-real-housewives-of-wall-street-look-whos-cashing-in-on-the-bailout-20110411
The Real Housewives of Wall Street


19 posted on 04/14/2011 7:05:46 AM PDT by Liberty Valance (Keep a simple manner for a happy life :o)
[ Post Reply | Private Reply | To 1 | View Replies]

To: stuartcr

>> Because they have no solution and don’t know what to say?

The simplest explanation is most likely the correct one (Occam’s Razor).


20 posted on 04/14/2011 7:05:51 AM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: indylindy
lol...Best description yet!
21 posted on 04/14/2011 7:07:01 AM PDT by mad_as_he$$
[ Post Reply | Private Reply | To 14 | View Replies]

To: SeekAndFind

The inflation resulting from the devaluation we are witnessing is the only salvation, the only cure for the cancerous debt. The devaluation is by design. Republicans know this as well.

Obama is the designated devaluer.

Massive spending reductions will lower the slope of the debt growth curve but will do nothing to reduce the outstanding debt. Only inflation and devaluation will do that.

The power of compounded moderate inflation is immense and over a mere five years at 7% can reduce the debt by half merely by devaluation. The trick is to establish a moderate and tolerable rate of 7%

Some think the US$ will be dropped as the reserve and that may very well happen. My view is that many others have a very similar problem and there will be a general relative devaluation and price inflation. Gold and silver are primary indicators the process is in effect.

A good old fashioned major war is about all that can knock the process off track. I don’t discount that possibility.


22 posted on 04/14/2011 7:08:12 AM PDT by bert (K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
[ Post Reply | Private Reply | To 1 | View Replies]

To: indylindy

Right on, you got it.


23 posted on 04/14/2011 7:10:17 AM PDT by swampfox101
[ Post Reply | Private Reply | To 14 | View Replies]

To: bert

>> The power of compounded moderate inflation is immense and over a mere five years at 7% can reduce the debt by half merely by devaluation. The trick is to establish a moderate and tolerable rate of 7%

The other necessary trick is to figure out a way around adjusting massive entitlement outflows upwards to compensate for your 7% inflation. Otherwise that deficit ain’t goin’ nowhere, brother.


24 posted on 04/14/2011 7:13:02 AM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: bert

>> My view is that many others have a very similar problem and there will be a general relative devaluation and price inflation.

I share that view, and I’m still struggling to wrap my head around the implications of multiple simultaneous defaults/devaluations everywhere in the world.


25 posted on 04/14/2011 7:16:02 AM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: SeekAndFind

Why? What happened to the last president who tried to strengthen the dollar by ordering the Treasury to print Silver Certificates for legal tender? Hint: JFK


26 posted on 04/14/2011 7:17:18 AM PDT by martian622 (The Revolution is being televised.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: PGR88

Ya get the govt ya voted for. Too many slick lawyers who do not know how to work, life time elected people who ride around in a pickup truck saying whatever with a flannel shirt an jeans on. These people just screwed the greatest economy into the ground.
Need a guy who knows, been there, made money, took looses, stood up, dusted himself off and got back at it, Not a lawyer. Not a politician


27 posted on 04/14/2011 7:17:36 AM PDT by reefdiver ("Let His day's be few And another takes His office")
[ Post Reply | Private Reply | To 16 | View Replies]

To: Nervous Tick

” I’m still struggling to wrap my head around the implications of multiple simultaneous defaults/devaluations everywhere in the world. “

Don’t worry - you’ll be able to observe those implications first hand...

Of course, you’re probably gonna be too busy trying to survive to notice - or care....


28 posted on 04/14/2011 7:19:15 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Uncle Ike

A lot of folks are doing that now.


29 posted on 04/14/2011 7:21:20 AM PDT by swampfox101
[ Post Reply | Private Reply | To 28 | View Replies]

To: Liberty Valance

We can not pay off the debt with honest money, the only way to pay off the debt is with worthless money. Those with hard assets will tread water, those without will sink and the bankers will make out like the bandits that they are.


30 posted on 04/14/2011 7:22:48 AM PDT by jpsb
[ Post Reply | Private Reply | To 19 | View Replies]

To: stuartcr
Because they have no solution and don’t know what to say?

The GOP under Bush started the current weak dollar. They don't have anything to say, because it's what they want.

31 posted on 04/14/2011 7:22:53 AM PDT by Moonman62 (Half of all Americans are above average. Politicians come from the other half.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Uncle Ike

>> Of course, you’re probably gonna be too busy trying to survive to notice - or care....

My plan is to not only survive, but thrive under the coming conditions. :-)


32 posted on 04/14/2011 7:27:13 AM PDT by Nervous Tick (Trust in God, but row away from the rocks!)
[ Post Reply | Private Reply | To 28 | View Replies]

To: Nervous Tick

They are too busy shooting themselves in the feet. The Young Guns. Why worry about Obamacare, EPA, DOE and all the other huge strangulation agencies and bloated government when you can attack Social Security and scare Senile Citizens to death.


33 posted on 04/14/2011 7:28:49 AM PDT by screaminsunshine (Shut up and eat your Beans!)
[ Post Reply | Private Reply | To 20 | View Replies]

To: SeekAndFind

I saw an inspiring focus group segment with Frank Luntz and a group of Tea Party republican freshmen. The RNC should take some cameos from this group and start making and showing TV spots non-stop.


34 posted on 04/14/2011 7:32:03 AM PDT by Baynative (Truth is treason in an empire of lies)
[ Post Reply | Private Reply | To 1 | View Replies]

To: reefdiver

That man is Mr. Trump.


35 posted on 04/14/2011 7:38:04 AM PDT by MrInvisible
[ Post Reply | Private Reply | To 27 | View Replies]

To: Liberty Valance

They solution to the the falling dollar problem seems to be missing in action in the arcticle itself and in all the comment except yours.

Let me explain the reason for the falling dollar and the rise in gold, silver and commodity prices in simple terms.

The value of the dollar is falling primarily due to the historically high DEFICITS that are being run by the Federal Government and are expected to continue for many years in the $Trillon per annum range. The problem is that the world’s capital markets cannot support that level of new deficit spending - the extra cash for investing in U.S. treasuries just isn’t there.

So the shortfall of dollars available from normal markets for U.S. treasuries has to to be made up by the Fed and they just pull the necessary ‘credit’ out of the sky, their rear ends or their Xerox machines and hand it over by various means to the Federal Government.

That gives us huge new money chasing fewer and fewer goods every year. THAT’S CALLED INFLATION AND IT IS COMING AT US LIKE A FREIGHT TRAIN.

THE SOLUTION: GET THE DEFICITS DOWN TO ZERO SO THE FED WILL STOP PRINTING MONEY THAT DEPRECIATES THE VALUE OF THE DOLLAR.


36 posted on 04/14/2011 7:40:45 AM PDT by InterceptPoint
[ Post Reply | Private Reply | To 19 | View Replies]

To: SeekAndFind

because secretly they enjoy the thought of the ChiComs waking up and crapping their pants every morning


37 posted on 04/14/2011 7:50:02 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nervous Tick

-—The other necessary trick is to figure out a way around adjusting massive entitlement outflows upwards to compensate for your 7% inflation. -——

You are correct.

My understanding of the current discourse is that the Ryan budget is attempting to do just that. A means for accomplishing the various social purposes will be provided by entities and sources other than the federal government.

However, it must be understood that the current debt can’t be eliminated by decreased spending. Eliminating debt is the reason for the inflation. Future debt can be prevented or lessened by new programs addressing retirement/ healthcare and the budget


38 posted on 04/14/2011 7:50:34 AM PDT by bert (K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
[ Post Reply | Private Reply | To 24 | View Replies]

To: bert
five years at 7% can reduce the debt by half

You mean a 40% reduction.

39 posted on 04/14/2011 7:51:22 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: SeekAndFind; LMAO; DeaconBenjamin; April Lexington; murphE; RipSawyer; Tunehead54; preacher; ...
"If you realize both parties in Washington think that our money is theirs and you trust them to do the wrong thing, this list is for you. If you think there is a Santa Claus who is going to get elected in Washington and cut your taxes, spend a few trillion and that will jump-start the economy, this list is not for you" .

From post: "The most astounding feature of the political fray as the 2012 election comes into view is that not a single Republican other than Congressman Ron Paul is stepping forward to brand as his or her own the issue of honest money. The whole party is into the negotiation with the president over the budget, and the underlying issue--the failure of our fiat currency--is up for grabs. It is true that there's plenty of blame to go around on the dollar. "

Here's my take. Republicans trying to sell cuts in non-defense discretionary spending using the argument that the debt sky is falling sounds pretty lame when they refuse to tie inflation (oil and food) to the deficit. Voters want to know how it affects them NOW and the near future. So how does it affect them when Republicans say tax cuts are off the table and Democrats say spending cuts are off the table and the falling dollar and inflation have nothing to do with it?

40 posted on 04/14/2011 7:51:49 AM PDT by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Baynative

There are two ways to fund the government 1) have an honest debate and cast difficult tax and spending votes that aren’t easily explained in 15 second sound bites OR NUMBER 2 smoke and mirrors devaluation of the dollar which is a stealt tax increase on the producers and not indexed to tax law. AND THE SHEEPLE don’t ever see it coming!!!!


41 posted on 04/14/2011 7:55:19 AM PDT by Wuzza Dumbacrat
[ Post Reply | Private Reply | To 34 | View Replies]

To: martian622
-- What happened to the last president who tried to strengthen the dollar by ordering the Treasury to print Silver Certificates for legal tender? --

I thought he had authorized the printing of US Notes, not silver certificates. All three, FRN, US Note, and Silver certificate look similar - but a US Note does not create any "interest on the debt," like issuing (borrowing into existence) FRN's does.

42 posted on 04/14/2011 7:57:53 AM PDT by Cboldt
[ Post Reply | Private Reply | To 26 | View Replies]

To: Wuzza Dumbacrat
"AND THE SHEEPLE don’t ever see it coming!"

Thus the need to educate the public by hitting them with topical points that will get their interest. I'll betcha less than five in ten people on the street have any idea what is going on with the budget - or, the economy for that matter. They know stuff costs more and gas has gone up. But, if asked they will simply say it's all because of republicans.

That's because the media does a good job of selling dem talking points and the republicans don't fight back.

43 posted on 04/14/2011 8:09:19 AM PDT by Baynative (Truth is treason in an empire of lies)
[ Post Reply | Private Reply | To 41 | View Replies]

To: Cboldt
a US Note does not create any "interest on the debt," like issuing (borrowing into existence) FRN's does.

The Treasury doesn't borrow FRNs. FRNs don't increase the interest on the debt.

44 posted on 04/14/2011 8:14:49 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: SeekAndFind

Because the reality is ...it is over.

All we’re really waiting for is the collapse to hit.

Republicans would need to run a new currency or something so dramatic as returning the dollar to the gold standard as it would cause civil unrest and mass confusion in the global markets.


45 posted on 04/14/2011 8:18:40 AM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
[ Post Reply | Private Reply | To 1 | View Replies]

Comment #46 Removed by Moderator

To: Dixie Yooper
CDN $ was about $1.05 US in 1976. Decades of socialism and liberal mismanagement of the federal accounts and political uncertainty saw the dollar fall to as low at 63 cents US in 2003.

With the tar sands oil being developed and millions of barrels of oil exported to the US every day the Canadian dollar has become a petro-currency. Especially vis a vis the US dollar. Recent strength in the Canadian dollar also reflects weak US economic and political performance. The Bank of Canada is having a hard time keeping the Canadian dollar down in this climate.

I think the Canadian dollar will remain strong in the near future. We are in the middle of a federal election campaign and it looks like the conservatives will gain a huge majority government. That will translate into lower taxes and a federal government surplus (yes a surplus), in a few years. If the US doesn't get its financial house in order, I would not be surprised to see a Canadian dollar much higher than it is now.

Believe it or not, such a circumstance would not be very good for Canada.

47 posted on 04/14/2011 8:24:19 AM PDT by Former Proud Canadian (How do I change my screen name now that we have the most conservative government in the world?)
[ Post Reply | Private Reply | To 15 | View Replies]

To: sickoflibs

Meanwhile Trump gets people riled up by threatening to poke a stick at China and OPEC, as if we have any leverage.


48 posted on 04/14/2011 8:32:41 AM PDT by Huck (This running things, kid. It ain't all gravy.)
[ Post Reply | Private Reply | To 40 | View Replies]

To: Toddsterpatriot

Well, you know.... rounded to half


49 posted on 04/14/2011 8:48:16 AM PDT by bert (K.E. N.P. N.C. D.E. +12 ....( History is a process, not an event ))
[ Post Reply | Private Reply | To 39 | View Replies]

To: sickoflibs
The real problem is that nobody in this current generation was an adult during the currency collapse of the 1920s. They/we will have to relearn the devastating consequences of debasing a currency.
50 posted on 04/14/2011 8:57:15 AM PDT by April Lexington (Study the Constitution so you know what they are taking away!)
[ Post Reply | Private Reply | To 40 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-63 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson