It's official. The Catholic Knight is retired. I'm hanging up the helmet and passing the torch. There will be no more articles, no more commentaries, no more calls to action. THIS BLOG IS CLOSED. I've spent a very long time thinking about this, I believe the time has come, and is a bit overdue. I want to thank my readers for everything, but most especially for your encouragement and your willingness to go out there and fight the good fight. So, that being the case, I've spend the last several weeks looking for bloggers who are fairly active, and best represent something akin to the way I think and what I believe. I recommend the following blogs for my readers to bookmark and check on regularly. Pick one as your favourite, or pick them all. They are all great.....
Monday, April 6, 2009
Why The U.S. Dollar Will Crash
THE CATHOLIC KNIGHT: Take a good look at the federal deficit graph above. 2008-2009 marks the largest in history, and Congress projects that this kind of deficit spending will go on for at least a few more years - minimum. Now the United States federal government doesn't have this kind of money, and it can't get this kind of money from the tax payers. So in order to make good on it's debt, and not default on it's loan payments, it can only do one thing. PRINT MORE MONEY! - LOT'S OF MONEY!!! So the printing mints are going into overdrive and churning out more dollars than ever before in all American history. What does that do to the value of the U.S. dollar? It's a simple rule of economics really. The more you have of a currency, the less it's worth. So the American dollar will plummet in value, sometime in the not-too-distant future, sending inflation cost for goods and services through the roof. How long do we have? I don't know. I suppose it all depends on how long it takes to get all that money into circulation. Some experts are saying it will take as long as 2 or 3 years. Others are saying we'll see the effects within 6 months. You're guess is as good as mine, but one thing is sure. Our money in the bank is about to become a lot less valuable sooner or later.