Yesterday, I attended a lecture here on campus about money matters. During this lecture, there was an interesting point raised about the serious decline of the U.S. dollar, coupled with the government's attempts to divert our attention away from the dollar's collapse. While most of the media is concentrated on Iraq (well, sort of anyway...), immigration (I'll be writing on this one soon), and missing white girls, the feds are involved in a widespread (damn near 24/7) printing operation. This is disturbing to me because a massive wave of currency printings like this will only lead to a significant devaluation of the U.S. Dollar. According to analysts, the Federal Reserve has ordered approximately $2 trillion of currency to be printed. If this is true, then our government is committed illegal counterfeiting. That in mind, I suppose that it's really no wonder why missing white girls are still making headlines all across the nation. Since I think that the government seems to always have a hidden agenda, I wouldn't be suprised if the information shared in this lecture was true.
Tthe speaker went on to say that, six months ago, the Federal Reserve quietly announced that as of March 23, 2006, they would no longer publicly disseminate any information regarding "M3" statistics. "M3" data is the amount of cash that the government prints and puts into circulation (through large-denomination time deposits, repurchase agreements, and Eurodollars). M3 is used most to prop up the U.S. economy; especially when valuing the dollar against the gold and silver deposits around the world. This decision to print more money is a pretty unsettling move by the government, especially since it's now becoming harder to determine the true value of the "dollar".
On a hunch, I did a Google search on "M3" and, sure enough, the federal government is discontinuing this practice. According to information compiled at Wikipedia, Congressman Ron Paul introduced a bill, H.R. 4892, in an effort to reverse this change and force the government to continue publishing M3 statistics on a weekly basis. I wonder what type of congressional support this bill will receieve. Perhaps the bigger question is: Why would Congressman Paul go through all this trouble to produce this bill if M3 doesn't really convey any additional information about economic activity that isn't already included in M2 (as the Federal Reserve continues to tell us)?
There is so much misinformation and deception out there, I have no idea where the truth lies. One thing's for sure, nothing is ever what it appears to be.
Does all of this nonsense mean that the U.S. Dollar is falling against all major world currencies as this lecturer suggested?