James Leroy Wilson, this is one of the most disturbing articles I have read in a very long time. Your logic is impeccable. From my first economics class at the University of Tennessee until now, I have never heard of our government not disclosing our money supply. Are we going to become like Argentina a few years ago? Should be invest in gold while we can?

I know two individuals who are extremely prominent and extremely conservative. I engage in conversations with them on a weekly basis. Now some of what they are saying is starting to make sense - even though I don't agree with their solutions to what both see as a coming national crisis which transcends the current war and the president's ratings.

I was drowsy before I read your article, but now I'm fully awake!!

http://www.lewrockwell.com/case/case14.html

Fascinating article on collapse of empire via currency devaluation. Regards.

It's no big deal to hide the monetary situation - it's only a part of the continuing extension of the present administration's policy to hide everything! It has recently reclassified as secret thousands of benign documents that had been released for public view, having been closed for the legally required time period. Don't be surprised at the hiding of anything - in fact, expect it.

Dear Mr. Wilson,

You approach economics as if the system established in 1913 can be rescued. I do not believe you comprehend the basic nature of the system. I submit, by the design of the economic system, that it is inherently constructed to self-destruct.

The Fed, with the assistence of Congress, issues Bills, Bonds, and Notes for which they charge interest. Every dollar in circulation is a result of an issuance of interest bearing debt. The principle is created but the principle and the interest are promised to be repaid. The interest has never been created. The promise is impossible to preform. The only way the interest can be paid is to issue more debt. This is precisely the same operation, on a much grander scale, of the original Ponzi scheme.

The scheme will continue only as long as the debt can be sold. When people realize thay are being taken, they will quit buying the debt. In the reality of the scale of this scheme, only foreign nations refusing to hold US debt will bring the house of cards down. Unfortunately, the requirement to sell constantly more debt each year to finance the exponentially increasing interest payments on the national debt requires more deficit spending which devaluates the currency more rapidly. The spiral accelerates.

It is not a question of IF the system will self-destruct. The question is WHEN.

Jim Carter

Great article

The FED continues to act as if the US dollar functions as worlds standard for commerce by divine right ("in God we trust"). For some reason, the US is wedded to the belief world commence bound to pray at the alter of "Wall Street".

As you essentially point out, the dollar retains its credibility at the pleasure of Beijing and Tokyo (plus a few others). At some point likely post 2008 Olympics I expect China to flex its muscles (lust for power, status and conquests are our primal instincts that sooner or later trump all else, as evidenced by the history of mankind). The vultures, Beijing perhaps with Moscow and Tokyo, will be circling and will be more than prepared to accept a little short term pain for the spoils (remnants of the western economies).

My hope is that Canada with its natural resources will fare reasonably well but that will depend if the US tries to drag us down with it.

I question the chair of the Reserve, Ben Bernanke, his predecessor Greenspan and their kin-related counterparts, Wolfowitz and company, whose influence knows no party lines, about the direction they have taken our country.

Without our knowledge.

Wow i am surprised, i knew that the second biggest bank in the us just went bankrupt but now i know that the us might not even survive when i am like 50!

Once again, you hit home. Looks as if your 2006 article has been exhumed by posters and revisited. Your points now ringing more powerfull than in 2006.

Indeed, We, the people, need to be more carefull who we choose to govern our nation. Put aside electing those to govern who trick you into thinking they are Godly. A political trick pulled time after time to get the vast majority of church member votes. Mixing church and state when voting is what got us into Bush's shadey so called CONSERVATIVE leadership. Conservative would not fit Bush. Mixing church and state has never worked in other countrys. Iraq is a good example. Why think it will work in America. There always has been war over religion. Lest we forget, our forefathers said there shall be "no mixture of church and state". Lest we forget, truth does not come to light where secrecy is condoned and reigns in government. Secrecy of the Buch Administration leaked. A devious designed and flawed government strategy that has left the American people "a day late and a dollar short." Behind the 8 ball.

Power is a dangerous tool when given to the wrong hands. We hold America's future in our hands at the voting polls! Those who voted in the past corrupt leaders are liable. We are ALL paying a dear price for it.

On November 4th, many will again be holding our future in their hands. I am from the once bitten, twice shy school of thinking.

Anyone wanting more of the same, are really gonna love McCain and Palin.