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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: tonka552000 who wrote (25145)	8/11/2003 2:34:16 PM
From: stockman_scott	Respond to of 89467

Some interesting comments on the dollar... <<...Rogers: The US dollar is a terribly flawed currency. We owe over $7 trillion -- I mean I hate this -- I don't particularly like this at all but as an investor one has to invest with reality, not with what one would like. We are the largest debtor nation the world has ever seen. Our foreign debts exceed the foreign debts of every debtor nation in the world put together. The dollar has started going down but it has a long way to go before it's over. And the official policy of the US Federal Reserve is now to debase the currency. They have announced it. They have put it in their minutes. Every one of the governors has made a speech saying, "Yes, we're going to debase the currency. It is our policy. We are going to drive the value of the dollar down and the price of things up. What more do you need to know? You've got to sell dollars. It's a horribly flawed currency anyway, with unsound underpinnings. The debt is increasing at the rate of over $500 billion a year, and the Central Bank is debasing it -- out of official policy. I hate it - it has never been good for a country to debase a currency. It has never worked in the long run. It has always been a disaster in the long run. It sometimes has worked short-term. What more do you need to know? You've got to sell dollars. The problem is, of course, that there aren't many sound currencies left in the world anymore. I own 12 or 15 currencies around the world. I look every day for a sound currency...>>