I hope and pray that we can solve this problem with the dollar.

http://www.thetrumpet.com/index.php?q=7658.0.130.0


Why Your Dollars Buy Less and Less

From the January 2011 Trumpet Print Edition »
[b]And how the greenback’s falling value will have some 
[/b]scary consequences By Robert Morley

Ever feel like your money doesn’t stretch like it used to? There’s a reason for that. And it’s more serious than you probably think.

The dollar’s value is plummeting. It has been slipping for years, but the trajectory is getting steeper. Against the world’s major currencies, the dollar has lost more than 14 percent of its value over just the past five years—and a shocking 32 percent in the last decade. In October alone, the dollar plummeted 6.5 percent. For the first time in history, the Australian and Canadian dollars both traded at parity with the U.S. dollar.

But the dollar rout is actually even worse than these numbers show. As the dollar has devalued, so have the currencies the dollar is compared to. When measured against hard commodities, the dollar crash is much more vivid. A decade ago, you could have purchased an ounce of gold for $275. An ounce of silver cost $4.80. Today you will pay around $1,400 and $28 respectively. But the dollar isn’t just plunging against precious metals; it’s crashing against virtually all commodities.

What’s going on here? Well, American politicians have spent the nation to the verge of bankruptcy. Total government debt (local, state, federal) now stands in excess of $14.7 trillion. However, this is only beginning to scratch the surface of America’s debt problem—despite the fact that it is already over 100 percent of America’s gross domestic product. Total debt in America was a gargantuan $57 trillion as of last April, according to the Grandfather Economic Report. If you include liabilities such as Social Security, Medicaid, Medicare and other pension plans, the government is on the hook for another $59 trillion or so in promises.

There is only one way America can pay its debt—and it is not an honest way. Central bankers know it, the world’s top financiers know it, and foreign nations are beginning to realize it too. The Federal Reserve calls it “quantitative easing.â€