If someone broke into your bank and stole 10 percent of your total assets, you would want them behind bars and your money returned.
Yet that is precisely what the government accomplished when it recently printed over $600 billion and placed the cash into the economy.
Since there is nothing tangible behind those dollars, that means that everyone who had money in the bank, or on a fixed income like Social Security, has been robbed of approximately 10 percent of the total value of the dollars they owned or received during 2011 (this is from an estimate of the monthly average seasonally adjusted average of the money supply).
Another example of what appears to be government policy to degrade rather than maintain the value of the dollar is to consider the cost of a Volkswagen Beetle. I purchased one new in the late 1960s for $1,500. The current price is approximately $19,000.
Granted there are some improvements in the car, but this is an increase of 1,167 percent. With the latest increase of the debt, more dollars will be printed and the value or each will decrease.
Your president swore in his oath of office to uphold the Constitution and the laws of the land, but he instigated the repeal of don't ask, don't tell and declared the Defense of Marriage Act unconstitutional, something reserved for another branch of government and above his pay grade.
Our government seems to be lacking men and women of character and high moral standards.
Theodore Richerzhagen III