Wednesday, May 03, 2006


Email Spreading Resentment in America

History has shown over and over again, that when confronted in public with misdeeds, the most successful strategy a criminal can employ is to point a finger at someone else.

I've been sitting on this post for about 3 weeks. It was then when my jaw dropped at a few chain letter emails that were forwarded to me. Three weeks ago, many American citizens all the sudden found it necessary to voice their resentment of immigrants' influence on the economy. I'm still getting this electronic waste in my email, but strangely, I'm not getting any email about the looting of the U.S. treasury.

It's something you can count on. When a country's currency spirals downward, politicians can always count on scapegoating a minority. This is often a non-voting minority.

Congressman Ron Paul (R) of Texas remarks:
The rise in gold prices from $250 per ounce in 2001 to over $600 today has drawn investors and speculators into the precious metals market...Holding gold is protection or insurance against government's proclivity to debase its currency. The purchasing power of gold goes up not because it's a so-called good investment; it goes up in value only because the paper currency goes down in value. In our current situation, that means the dollar...The lack of earned interest on gold is not a problem once people realize the purchasing power of their currency is declining faster than the interest rates they might earn.
It seems that there is no end to this freefall in sight.

The world's been down this road many times. This time, it has email.

Part of what makes our currency strong is its use by other countries, most especially the pricing of oil in dollars. Ironically, it is our xenophobia and refusal to "do nuance" that has turned the world from passively accepting our economic domination. For some time, OPEC has been discussing shifting to the Euro while China has been smoothly and diplomatically moving into the oil rich areas of East Africa, offering deals and showing more respect. It is we who have been dependent upon foreigners to make us rich but that's not enough: we also expect them to kiss our asses. As one diplomat said, if someone is our enemy we may try to buy him or kill him, but if he is our friend, we will sell him.
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