Midknight Review -- new and revised: Why have the economic battle now? Because the dollar has lost 96% of its value and an "adjustment" needs to to be made.

<<<< The chart (above) shows the extent of debasement of the value of U.S. money since 1913 when the Fed was established. The dollar has lost 96% of its purchasing power since 1913! (using CPI statistics) Once the dollar lost all linkage to gold, its value plummeted at an accelerated rate. Since 1971 when Bretton Woods was intentionally dismantled [by Nixon], the dollar has lost 82% of its purchasing power. 82%! Because Nixon sabotaged the last vestige of honest money, a child in 2012 would need $1 to buy the same amount of candy purchased by children for just 18 cents in 1971. . . .

An honestly governed gold standard eliminates "discretionary" monetary policy by centralized authorities (i.e., central banks).

Gold is an honest check on the amount of leverage that can build in the financial system and it limits the amount of money the government can borrow. A government that does not have a captive central bank and fiat paper currency, cannot borrow massive amounts of money (think Greece).

Fiat paper money managed by complicit central banks remove any discipline of free-spending politicians. Thus, central banking and huge deficit spending go hand in hand. Note -- all of the above including the chart is from ZeroHedge.com. Add it to your bloggroll.

Editor's notes: I would add this: the only protection "we the people" have against the evils of a dollar system that is based upon nothing but the good will of the government is the popular vote and education. From time to time, we can and must demand our politicians stop spending. The Quantitative Easing (code for "printing money"), of the past four years has put more than 600 billion (by one estimate) dollar bills into the "economy." You have to work more hours for more "pay" because the dollar bills you earn are only paper and are worth less and less -- due to the fact that (1) their value is based upon the supply of dollars and (2), our trading currency is paper, not gold.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Why have the economic battle now? Because the dollar has lost 96% of its value and an "adjustment" needs to to be made.

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