So what do you make of this ... those that understand economic?

Are we up shit creek or what?

Oil leaders' private debate televised by mistake
On Friday night, during what the participants thought were private talks, Venezuela's oil minister Venezuela Rafael Ramirez and his Iranian counterpart Gholamhossein Nozari, argued that pricing - and selling - oil using the crippled dollar was damaging the cartel.

Saud al-Faisal, the Saudi foreign minister, warned that even the mere mention to journalists of the fact that leaders were discussing the weak dollar would cause the US currency to plummet.

The weakness of the dollar is one reason why oil prices are so high, as cartel members seek to compensate for their lower earnings. This means a further drop in the dollar is likely to be accompanied by a rise in oil prices.

So what is this going to mean ... and do to the average income american on down to the poor?

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it means what it has always meant; the dollar will constantly continue to weaken and the inflation rate climb. the money supply will end up increasing and the wages will never catch up to the inflaion so the buying power of the dollar diminishes as well as the quality of life for the average, working class american. unfortunately the taxes will always remain the same and therefore the government gets its fair share no matter what. this is the curse of the federal reserve system. for the dollar to have any real power it must be backed by gold or hard assets and not simply that it represents a said amount. basically if we continue to import more than we export we will continue to lose ground on inflation. needless to say, this cycle will not end until the dollar has crumbled and the economy goes into a deep recession. buy your gold now before the dollar isnt worth anything. that or the euro.

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Might not have been an "accident"

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Rubber Johnny

If you look at your money there is a seal on it... Its usually black...

In the case here it is a letter A... Not sure the significance of the letter but here is the kicker... If you ever see a bill with a gold, silver or other colored seal THAT dollar is actually backed by a tangible good... KEEP that thing it's worth more than a dollar and will only increase with its age...

Actually i have seen a red one but not sure what that means but im pretty sure what gold are silver ones are for... =]

Someone correct me if i muffed any of that info up i really do not remember all the details this is something my father told me when i was younger...

The economy and the national debt are a joke... If you really think about who we OWE that money to its ridiculous...

In this world there are enough resources that everone can live a normal life (no hunger ect)... Economy has never been the problem neither has money... Money is not the root of all evil it just facilitates the real devil...

GREED...

Greed has been around ALOT longer than money...

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us_dollar_front.gif (80.4 KB, 0 views)

Like this:


I believe the blue backing is worth silver and the red backing is gold.

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Rubber Johnny

For the budding students of the economic classes held here in the Political Forum, please read the above quote 500 times ... then prepare for an oral/written exam. It couldn't possibly be stated any clearer than what MagusAll did.

As government borrows "money" into existance, the money supply is increased. The government likes to call this scam "inflation." An honest politician (oxymoron, I know) would call it a hidden tax, especiall on the middle class and the poor.

For excellent books on the subject, do a Google search on Ron Paul and access the books he authored on the money issue. The man is right on, on this issue.

Vi

PS: The price of oil will continue to climb as long as we, and those in foreign countries, continue to demand more of it. Like the law of gravity, the law of supply and demand is nondefeatable in a free market society.

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Ya thats worth even more cuz its a "2"... =] Nice one...

But there are more (but still rare) one dollar bills and probably others...

Here is a pic i found on google for a silver "1"...

And there are some gold ones in this post...
http://www.ingrimayne.com/econ/Banking/SILVER.JPEG

I remember having a red one in my possession once weather it was mine or a friends i do not remember... ??

And a pretty old 50 here... Wonder how much its actually worth... ??
http://aes.iupui.edu/rwise/banknotes...nson/0710e.jpg

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SILVER.JPEG (53.8 KB, 0 views)

I heard Ron Paul wants to use the gold standard, is this true? A lot of people think he is a crackpot but so far I like him, could be a good canidate.

What it means is that the oil rich nations are worried about making their money with the US dollar declining at its current rate. Being that, the price of oil per barrel is established as the Oil comes into New-York Harbor; the price is established in American dollars. Therefore, with the decline of the American dollar the Oil-cartel needs to up the price to make the same amount of money. If they substantially change the way that they do business: i.e. they change which currency that they accept in payment then there may be some negative repercussions for Americans depending on the currency chosen. For instance if the Euro was chosen then the price of oil would double for Canada and more than double for the United States. The biggest concern should be that the cartel does not get greedy

It just means that they are making way for the Amero....crashing the existing U.S. dollar.