On this week's edition of "The Hal Lindsey Report": I'll take a look at the travails of the US dollar. It used to be based directly on gold. Today, it's based on the "full faith and credit" of the United States. The problem with that is the rest of the world is losing faith in America and our credit is in the toilet. Where does that leave the dollar?
It leaves the rest of the world growing increasingly uncomfortable with the dollar. So much so that some of our longtime allies have been holding secret meetings to discuss establishing a new reserve currency for oil trading. The World Bank is already saying that the old order is gone. The United Nations wants to put the brakes on the excessive spending of the United States. Analysts say that some nations are dumping their US dollars at the rate of 30 billion per month. Once the dollar is replaced as the world's reserve currency, its value may become a day-to-day question.
Last week, I was surprised to learn that President Obama didn't win the Nobel Prize for Economics. Since he's obviously been so successful at bringing peace to the world, thus meriting the Peace Prize, I don't understand why his astoundingly profligate spending didn't garner the Economics award, too. But the Norwegians said they're giving him the Peace Prize because he shares the "values and attitudes" of "the majority of the world's population." That's a relief. I surely don't want our President thinking like an American! The main reason he got the Peace Prize though, has nothing to do with what he's done, but what he is. He's NOT George W. Bush.
We just thought the enemy was hunkered down in Afghanistan, Pakistan, Iraq, and Iran. Obviously not. The White House has now identified the real threat. It's Fox News Channel. The White House Communications Director has accused Fox News of being a part of the Republican Party. She also announced that Fox isn't nearly as reputable and objective as CNN. CNN is SO objective that it's recently taken to analyzing and 'correcting' comedy sketches on Saturday Night Live that lampoon President Obama! It's almost laughable. But the prospect of the White House using its power and resources to quash a news and opinion outlet which is protected by the Constitution (the same one that protects CNN), is no laughing matter.
Even the Federal Communications Commission is getting in on the conspiracy. In May, the acting chairman suggested that the broadcast station license term should be shortened and the renewal process given some "public interest teeth." Finding excuses to deny license renewals is precisely how Hugo Chavez seized control of the Venezuelan media in 2007.
On the day they were to begin, Israel abruptly postponed its recent joint military exercises with the United States. No one seems to know why. Whatever the reason, it indicates that things are going on behind-the-scenes in the Middle East. No surprise there, but with the stakes ratcheting higher every day, it's worth watching.
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