Wheels coming off the U.S. Government

Implications: Steven R. Weisman in Washington reported in the March 15-16 issue of the International Herald Tribune that fears about the U.S. economy drove the dollar to new lows on Friday. Crude oil traded at $110/bbl. Since 2002 the dollar has declined in value compared to the major world currencies. Politicians wring their hands over it. Foreign policy makers worry that their products have become more expensive in the United States. Many economists claim that the falling dollar makes overseas investors diversify their portfolios into stronger currencies. This impels the dollar lower. Some Middle East nations hint that they may begin pricing crude oil in euros or yen. Kenneth Rogoff, Harvard economist said declining interest rates and trade imbalances are at the root of the dollar’s problems. If the dollar keeps sinking, the U.S. could agree with European finance ministers to intervene. Secretary Paulson repeats that, “a strong dollar is in America’s interest.” Experts label that as happy talk.

Analysis: What will hold the several states together once the money has lost its value? What will happen to the value of the common stocks of American companies? What will happen to United States government bonds? What will happen to American troops in foreign lands when there is no money to bring them home? What will happen to the nuclear weapons arsenal? What will happen to the nation? These are questions that Americans should start asking each other. What can the people do to preserve the United States and all of the hopes and aspirations for which it stands? History teaches us that great nations enter long periods of decline until something triggers their collapse. The French Revolution, the Russian Revolution, the collapse of the Weimar Republic and the rise of Adolph Hitler are all consequences of great national inflations that wrecked important societies. Some political pundits for several years now have referred to the United States as the “world’s biggest banana republic”. That is now sad but true. Can the American people stop this shipwreck or is it too late in the day? It can be stopped but clear thinking at the level of the Several States is the only remedy. The U.S. Congress is impotent. The administration has too many extraneous agendas. It is unable to focus on the single most pressing matter of state, namely, the financial integrity of the U.S. Treasury. Only the several governors have the necessary power to return stability to government. This can be done by the introduction and passage of two amendments to the United States Constitution. Amendment XXVIII should annul Amendment XVI. Amendment XXIX should amend Section 1 of ARTICLE I – Legislative powers. The text should read: “All legislative Powers herein granted shall be vested in a legislature of the governors of the Several States.” That would do the trick. The ship of state would quickly right itself. Would there be financial consequences? Indeed!