Posted on 04/29/2011 3:00:17 PM PDT by David DeGerolamo
The US dollar index on Bloomberg.com (DXY:IND) compares the value of our Federal Reserve Notes against a basket of other world currencies. As the value of our dollar declines through redistribution and the unchecked policies of the Federal Reserve, the fruits of our labor (savings/retirement) are evaporating. Since January 1, 2011 through the end of April, the dollar has lost 7.59% of its value compared to other currencies. Almost half of this loss (48.7%) occurred in the month of April where the dollar declined 3.7%.
The price of gold has seen a meteoric rise in April as the dollar collapses and the quest for physical gold by governments' central banks has become insatiable.
While our attention is focused on whether the "birth certificate" is fraudulent and a royal wedding, the wealth of our country is being drained without any consideration by the media or us. If we have allowed this to happen since 1913, does anyone think we will have a turnaround or will we see an acceleration of the dollar's collapse?
of all things.
Mabuhay!
Re the headline: No I didn’t: about 35% of my pension savings are in overseas companies and about 2% in precious metals.
But gee whiz, the stock market keeps climbing. Of course, any profit gained is about as valuable as monopoly money.
So say you. I lost all my savings way before April!!!
So, I guess what we need to do is invest overseas and only spend here in the US, since the currency devaluation is only a direct problem when you have to exchange. At the same time, since some of the international commodities are pegged to the dollar (like oil and things we buy that are affected by oil prices), we are feeling the effects of devaluation.
I’m sure it’s because Americans are lazy and don’t want to work. And look and at those leaches collecting social security!
They’re robbing us!
“So say you. I lost all my savings way before April!!!”
I got wiped out in 2008 along with my job. But on the bright side, I learned to love parts of the cow and pig I never knew existed.
maybe you should check again...
About 10 years ago my bride of 47 years convinced me to put 50% of our savings in gold (bought at $300).
It's wayyyy more than 50% now.
The gold goes up, but the rest goes down, so we're holding our own.
But that's preferable to what is happening to most folks.
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