The Dying Dollar
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Facts about our weakening dollar and my idea on how to fix it.
The American dollar is getting weaker and weaker by the day. This is causing an economic circle of troubles in many ways. Our currency has lost value every year, and is coming closer to becoming powerless in the face of gold. The reason why it’s causing a troubling circle is because the less valuable our dollar gets the less we can but with it, the less we buy the worse the economy gets, and the worse the economy gets the weaker the dollar becomes. Very hard to think about.
In fact, other national currencies are facing troubles. The Euro, the Yen, the Frank, all of them are losing value as well as our own. Times are not just hard here. This is going to be very hard to fix. Fixing the economy isn’t going to cut it. We need other things to fix our currency. From what I know mow, I’m actually a fan of the Americoin idea. (The idea that North America should unite currencies to make the world’s strongest continental economy)
But here’s my idea. The American Government should back the dollar again with gold. We used to but in the seventies America used a large part of its gold to pay off debts with other countries. But right now gold is worth almost $2000.00 an ounce. So if the Government purchased gold from the American investors, and used it to back up our dollar with, (100th to 1000th of an ounce per dollar in the U.S) it would benefit in many ways; one, the American people who have invested in gold would receive the absolute value of their investment’s worth in return for their gold, and the dollar would be much stronger. Worth about double it’s current value if it all went smoothly. You’d see massive deflation across the nation. (Deflation is when the cost of items goes down but it’s value stays high) you would also see a boost in American exports, creating more manufacturing jobs here at home.
I’ll do more research on this but so far it’s a good idea. Something needs to be done about this problem right away. And we could use all the good ideas we can get at this point. Hope you liked the new article.
