This week, nations across the world have been aggressively buying dollars, trying to stop the dollar's continuous fall. For the dollar is the world's underlying currency and if it collapses, it could take their economies with it.
On Wednesday, speaking from Tokyo, U.S. Treasury Secretary Tim Geithner tried to calm the situation by repeating the Obama Government's often made assurances that the U.S. is committed to a strong dollar.
But as there has been no U.S. action to support the dollar, his statements were not taken seriously. Japan is America's second largest creditor and Mr. Geithner is likely there to assure them their investment in U.S. government debt is safe and that they should buy more in the face of rapidly growing U.S. deficits.
Nations across the globe have good reason to be worried. So do you and I. If you have not yet done so, please buy some one ounce or even 1/10 of an ounce gold coins. Buy and store them as an inflation hedge and if we are fortunate, they will never be needed and become over-priced keepsakes.
And enjoy every day of your life, as you also bring joy into the lives of others. And if you can afford to, make charitable donations to help others in need. Together we will get through this mess and hopefully build a better, more compassionate nation, not one burried in bailouts, earmarks, weapons and wars.
Dick
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