I Guess I Should Know Better.

I guess I should know better than to make remarks and not back them up. So here is the explanation of  how we have destroyed the world monetary system and how this president has devalued the dollar to the point of losing the reserve currency status.

We had a market collapse in real estate caused by greedy bankers and corrupt politicians that allowed them to get away with it. We lost 40% of our wealth but instead of dealing with the resulting deflation by getting behind a national leader that knew something we elected a political novice, almost any other candidate would have done the right thing in dealing with the ensuing market crash. The Fed had to supply dollars to prop up deflating asset values and a monetary stimulus to prevent a depression was on auto pilot. The problem was the actions this new Chief Executive took when spending the stimulus money. Instead of breaking up the big banks that caused the crash he bailed them out, calling them too big to fail. At this point we entered into a depression - in all fairness we would have had the depression either way but it would have been over long ago if he had invested our money into infrastructure instead of fantasy and taken control of the sub prime mortgages and derivatives and sold them off after the now smaller banks minus their executive officers, stabilized. Instead of bailing out a private auto maker and literally giving it to the unions, let the market take it's course. It would have been bad economically for a year or two but the problems would have been solved. Instead we have ended up owning the bad mortgages anyway through quantitative easing, are way far in debt and the banks are going to fail anyway because they are still doing the things that got us in this mess in the first place. What I am saying is that because we have elected a guy who has no clue - twice - all we have done is spend a whole lot of money we didn't have to make the problem worse. I guess a miracle could happen and we only go through a short deflationary period when the stock market corrects and the real estate bubble collapses again, then hyper inflation when the dollar collapses because of all the money printing but that would truly be a miracle. I am afraid we are in for much worse. This administration has mismanaged every aspect of our government so badly that what we have experienced the last 5 years will soon be called the good old days. The Fed has printed so much money and devalued our dollar so much that the entire world has had to do the same to their currencies in order to trade with us and remain competitive in a world dominated by the dollar. The only thing we export these days is inflation. This lunacy has gone on for so long that other nations are now forming their own trade groups to circumvent the dollar. This administrations insistence on imposing sanctions at every turn instead of doing what we are legally bound to do is nails in the coffin of the US dollar as the world reserve currency forcing trade alliances to get away from our influence. Several years ago this administration signed onto an agreement with the International Monetary Fund to replace the dollar with the SDR for reserve currency status but I suppose no one has heard about that. 22 new taxes in Obamacare, 442 new taxes in the last 5 years. It's too late to start paying attention now - the cards have already been dealt, we're all in with a busted flush.

It really is a sad day when an old redneck like me can figure out that what we are doing is unsustainable - the real question is how long can these greedy little bastards drag it out before it all falls apart and how much can they extract from us legally before they confiscate everything.