This just adds more evidence to support that theory.The US dollar became the de-facto international currency, because it was "good as gold." If you had a US $20 bill, you could turn it in for a 22-karat gold double eagle. The slip of paper was simply the title to the gold. So the "international currency" wasn't actually the US dollar, it was gold, and gold still is today.
The fact that the US dollar still clings to the "international currency" designation even though it was detached from gold long ago is just an indication of the overwhelming inertia of the international financial system.
But gold cannot lie. Anyone can test it and determine its weight and purity. This fact is why FDR criminalized the possession of gold coin in 1933, as he went about ripping the heart out of the US dollar and replacing it with a web of lies spun by the Federal Reserve Bank and the US Treasury. The gleam of legal gold would have outshone the tarnished brass with which he replaced it, and he couldn't have that.
As a result the dollar has been in more-or-less free-fall ever since then as you can see from any graph, steadily destroying the hard-won savings of hundreds of millions of people, channeling it into the insatiable maw of big government. Unless you use a logarithmic scale, the line goes nearly straight down by 1990 or so.
If you have gold, as Ron Paul was saying here, you don't need the hollow assurances of corrupt, self-serving governments in order to trade with anyone, anywhere in the world. You have gold, and that's all you need.
There’s a lot to feel good about with Iowa. After having no voice for many years, citizens who don’t buy into the perpetual war doctrine now have a seat at the table. ‘It is time to travel back in history and compare to the 2008 GOP Iowa Caucus. The winner of the caucus was Mike Huckabee with Mitt Romney taking second and John McCain in fourth. Take a look at the vote Ron Paul obtained in the 2008 caucus, a measly 11,841 votes. Compare to his third place finish in the 2012 caucus of over 25,000 votes’
It was remarkable to hear Sarah Palin say Paul’s backers shouldn’t be marginalized and that the party needs them. That the US is “broke”, the implication being that we can’t afford the empire. Let the other candidates go on about “American exceptionalism”. Reality has a way of creeping in and that’s always good news.
‘The last convoy of American troops drove into Kuwait on Sunday morning, punctuating the end of the nearly nine-year war in Iraq. To keep details of the final trip secret from insurgents — or Iraqi security officers aligned with militias — interpreters for the last unit to leave the base called local tribal sheiks and government leaders on Saturday morning and conveyed that business would go on as usual, not letting on that all the Americans would soon be gone.’
‘The Iraqis are going to wake up in the morning, and nobody will be there,’ said a soldier who identified himself only as Specialist Joseph.’
I wish there were as many candidates against patriot acts, wars and bailouts as there are for these things. But we have to settle for what we can get, and one victory from last night is the establishment is realizing that Paul’s campaign isn’t about him, but about us, the people who want a different course in Washington.
Ben Jones www.thehousingbubbleblog.com