Letter: Does anyone in Washington know what America is doing? - Ahwatukee Foothills News: Letters To The Editor

Letter: Does anyone in Washington know what America is doing?

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Posted: Thursday, August 29, 2013 4:58 pm

Jim Rogers, a famous investor, tells us that nations that save and invest these savings will have growth and prosperity. America is on the wrong path. We don’t have savings, and we are loaded with debt. We also consume more than we export, and have done so for many years. The Federal Reserve is debasing the dollar, so its worth keeps declining. The days of the U.S. dollar being king is no longer true. The next stage of our decline will occur when all of our dollars come home and cause inflation to surge. This is all planned by our administration, with massive monetary help by the FED.

A lot of our evils were caused by our Petrodollar recycling program (1973). This is when we forced Saudi Arabia to take all of the profits from Aramco (the largest company in the world) and purchase treasury bonds. The Saudis now have $80 trillion of bonds, and the Saudis’ next step is to redeem them. Does anyone out there think that this won’t affect our economy?

Don Crook

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