Ron Paul on the destruction of our dollar and its effect on our standard of living. This video is coming from just a few days ago when Fed Chairman Bernanke dropped interest rates by 50 points.
I think that if more people understood just what happens in financial markets, they would not tolerate their manipulation by a private for profit organization.
Cutting rates like this creates more money and causes inflation. This destroys the buying power of the dollar and drives the middle class ever closer to poverty.
The fact that our dollar has fallen so low that it has reached parity with the Canadian dollar should raise an alarm for all Americans. Here's why. I'm a teacher. I've researched living overseas and I have studied the various salaries teachers get paid in other countries.
A few years ago, a beginning teacher would make about 30k starting. In Canada, because the dollar was weaker, a new teacher could expect to make substantially more then that. In places where I was looking 45K wasn't out of the question.
Now, imagine we suddenly bring our dollar to parity with Canada. The standard of living you could afford at 30k is now only affordable at 45k. How many Americans, do you think, have gotten 15k raises in the last six months?
That is how all of this is eroding the middle class and its a shame that hardly anyone is paying attention.
artyon:
