Strong dollar, whats a dollar anyway?
great start to Richard Russell tonight:
Hot news -- On Tuesday President Bush visited the office of the Federal Bureau of Public Debt in Parkersburg, West Virginia. The Prez passed by a cabinet that contained the $1.7 trillion in Treasury securities that make up the so-called Social Security Trust Fund.
Later, in a speech at a nearby university, Mr. Bush announced, "There is no trust fund, just I.O.U.'s, that I saw first hand."
Yeah, Mr. President, we knew that. The government has spent all of the so-called Social Security trust fund, and in its place they have left a load of I.O.U.'s. But listen, Mr. President, the dollar itself is an I.O.U. In the good old days when the U.S. was solvent, a dollar was an I.O.U. which said the Treasury owed you one dollar's worth of gold. Today the dollar is a piece of paper that says a dollar owes you "nothing."
You don't believe it. Then try turning in your dollar to the Treasury and see what you get for it. What you'll get is another dollar with the slogan, "in God we trust." Hey, I already trust God. What I'm worried about is trusting my government.
copied from: Message 21208546 |
