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us dollar

  1. 5,302 Posts.
    Abraham Lincoln, from a letter written to William Elkin just after the passage of the National Banking Act of 1863 and less than five months before he was assassinated.

    The Central Banks and their fiat money system have a HUGE vested interest in keeping their control of the money system. Is it any wonder why the price of gold has been manipulated as many gold gurus have revealed?

    By allowing the privately held Federal Reserve to control our monetary system, our purchasing power has been significantly eroded. Since the Fed took control in 1913, the purchasing power of the dollar in terms of buying goods and services has dropped by 94%. In other words, today's dollar could only buy 6 cents worth of goods in 1913.

    Is it any wonder that hard assets have sky rocketed in value?

    My parent's home was built just before World War II for $14,000. Today it's valued at over $500,000. And you know the story with gold, copper, oil and other commodities. We are in the midst of a major long-term upswing in the price of hard assets and a continuing erosion of paper money.

    However we are also saddled with the major problem of debt repayment. Even though future dollars will be worth less, the taxpayers are on the hook to pay back the multi-billion dollar debts which most economists say can never be paid off.

    http://www.gold-eagle.com/editorials_04/ridley092804.html
 
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