America and the Future of the Dollar

The future of the dollar

As a person who has live abroad all my life, i have come into contact witht eh dollar on al,ost a daily baisis and have seen how it works abroad. I understad that the resecion is leading to a much weaker and that its still on its way o geting weaker. However, its the dollar, and there is no currancy so well spread as the dollar. I cant see any other currancy mounting a challange to its supresmacy. Not only des it ave to be a stong currancy but i will have to have he backing of a state which is able to chanllenge the US as a hagemonic power, and at this point in time, i see no clear candidate to take over this mantle.

Rupert Turenr @ Feb 17, 2009 11:28:23 AM

weak dollar?

I was a bit surprised at your worries about the weak dollar in the short term. Weak compared to what? Has ANY currency gained against the dollar in the last months? Since August the dollar has been gaining against almost every other major (and not so major) currency as investers flee high risk/return international markets and entrech themselves in safer US stocks. Seems to me that the bloated dollar has been a sign of the current crisis, not a goal to be sought after.

Gazi Islam @ Dec 04, 2008 08:48:16 AM

don't ignore the laws of mother nature !

it is the law of nature: after you reach the top only can go towards the bottom,

no matter how high a bird flyes it has to land on the ground, it is this simple it's the law of nature that applies to everything. however we could expand the period of being on the top.

someone of NY @ Oct 17, 2008 14:01:19 PM

A Strong Dollar

Seems to me the most fundamental problem is the criminal and unconstitutional Federal Reserve /Treasury gang who have the power to manipulate our money to the selfish ends of their gangster bosses. Without solving that problem I don't think the dollar has a chance.

Rucksack of NH @ Oct 08, 2008 10:22:38 AM

first we have toget rid of the FED

President Kennedy's Executive Order 11110 SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended - (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): "(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821 (b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption," and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof. SECTION 2. The amendment made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.

JOHN F. KENNEDY THE WHITE HOUSE, June 4, 1963

Once again, Executive Order 11110 is still valid. According to Title 3, United States Code, Section 301 dated January 26, 1998:

Executive Order (EO) 10289 dated Sept. 17, 1951, 16 F.R. 9499, was as amended by:

EO 10583, dated December 18, 1954, 19 F.R. 8725;

EO 10882 dated July 18, 1960, 25 F.R. 6869;

EO 11110 dated June 4, 1963, 28 F.R. 5605;

EO 11825 dated December 31, 1974, 40 F.R. 1003;

EO 12608 dated September 9, 1987, 52 F.R. 34617

The 1974 and 1987 amendments, added after Kennedy's 1963 amendment, did not change or alter any part of Kennedy's EO 11110. A search of Clinton's 1998 and 1999 EO's and Presidential Directives has also shown no reference to any alterations, suspensions, or changes to EO 11110.

The Federal Reserve Bank, a.k.a Federal Reserve System, is a Private Corporation. Black's Law Dictionary defines the "Federal Reserve System" as: "Network of twelve central banks to which most national banks belong and to which state chartered banks may belong. Membership rules require investment of stock and minimum reserves." Privately-owned banks own the stock of the FED. This was explained in more detail in the case of Lewis v. United States, Federal Reporter, 2nd Series, Vol. 680, Pages 1239, 1241 (1982), where the court said: "Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stock-holding commercial banks elect two thirds of each Bank's nine member board of directors".

The Federal Reserve Banks are locally controlled by their member banks. Once again, according to Black's Law Dictionary, we find that these privately owned banks actually issue money:

"Federal Reserve Act. Law which created Federal Reserve banks which act as agents in maintaining money reserves, issuing money in the form of bank notes, lending money to banks, and supervising banks.

US lover of FL @ Sep 27, 2008 15:02:01 PM

The weak dollar has helped drive oil prices to historic highs and curbed overseas vacations, but it also has boosted exports, with almost $40 billion in goods heading from North Carolina and South Carolina alone to other countries last year. This is from U.S. Department of Commerce data. That's an increase of almost 64 percent in the past five years.

The products made in the Carolinas go to more than 200 countries, from nearly $9 billion in goods to Canada last year to less than $3,000 to the Solomon Islands.

Last year, the value of North Carolina exports to China was eight times more than in 1999. China is now the No. 3 market for North Carolina exports -- up from No. 21 in 1999.

A weak dollar = strong exports. The weak dollar presents a two-fold dilemna. It just depends on which side you benefit from this.

Alexander Sterczek of IL @ Sep 07, 2008 12:47:33 PM

737 military bases

from alternet.org WOW 737 US military bases! Why?

Oye vey! (10,00 times)

This is way too expensive!

steve levy of MA @ Jul 30, 2008 14:31:51 PM

SL of Marblehead

To make the economy stronger focus on the fundamentals:

1 - Improved education could increase productivity. Improved special education could also reduce the size of our prison population. Many if not most prisoners needed special eduction and did not get it.

2 - Improved transportation. Cars cost money! Too much insurance, fuel, pollution, land, accidents. More public transportation, more innovative! We are locked into vehicle concepts. Moving walkways might be a better answer.

3 - Improved health care, too many doctors, more nurses, make generic medicine free. Most doctor visits are for very mundane issues,: cold, back ache, etc., "sell" this through WalMart and Wallgreens. We do not need the equivalent of a PHD to dispense cold medicine.

Steven Levy of MA @ Jul 30, 2008 14:25:31 PM