The Demise of the Dollar
Chapter One
THE RECESSION
THAT WASN'T
In all recorded history there has not been one economist who had
to worry about where the next meal was coming from.
-Peter F. Drucker
It is a modern enigma. The U.S. dollar-the world's "reserve" currency
-is weakening, shrinking, falling. It has been since the inception
of the Federal Reserve, the very institution assigned with the
task of maintaining its value; but it has accelerated at an alarming
rate of late.
"The dollar has slumped to new lows against other currencies,"
has been a refrain in the financial press for several years now. From
2000 to 2004 we scribbled out our financial insights from an office
in Paris. During one 18-month period beginning in late 2002 the
cost of living for those expats among us-who were paid in dollars
but spent money in euros-saw their cost of living go up by almost
half. Still, most Americans don't ever leave the homeland, so why
should we care if the dollar falls in value? Well, the answer is relatively
simple. Everything-milk, eggs, gas, construction supplies, you
name it-now costs more.
... read full excerpt from The Demise of the Dollar...and Why It's Great For Your Investments ebook
