It’s not an invasion from
another world. Nor is it unique to America. The fall of the U.S. Dollar from grace is more like a plunge into terminal torment,
since we are already living in a realm of hell. Viewing your own place in the firmament often loses sight of the unadorned
reality all around us. As long as your belly is satisfied and your bank clears your withdrawals, the imbalance in the natural
order is ignored. Distortions in economic equilibrium are the foremost function in managed models of monetary manipulation.
The myth of a free market is evident to anyone who can still reconcile a checking account.
The rapid erosion in the value
of Federal Reserve notes is more than the inevitable attrition of incessant inflation. The cause of the current round of divestiture
is a designed policy. The orderly flight out of dollars and into Euros is so well publicized by now that that average depositor
just shrugs off the despair of impoverished certainty.
The official rate of inflation
is a lie. Look at the expense on essentials. The price tag of food has gone through the roof. Energy, medical, insurance and
education costs are unbearable. As the rise in local and state taxes far out pace any minimal reductions on the federal level.
The huge balance of payments trade shortfall is no accident. Government deficits grow, as massive debt piles up. No wonder
the laws of economic veracity require a loss of purchasing power in the value of the currency.
With such sordid prospects, why
the recent influx of foreign buyers into the American real estate market? The plain and unvarnished truth is that all those
surplus dollars need a new home. Knowing that the Euro has already become a viable substitute currency and is on the verge
of replacing the U.S Dollar as the only reserve exchange, it’s time to bail out of paper dollar assets. Swapping back
into another financial tender currency, tied to the volatility of oil settlements, may not provide the optimum peace of mind
for the wary investor. Cash is king when the economy tanks and new loans are unavailable to roll over old debt. But in a methodical
diminution of a currency, the need to seek higher returns to compensate for the drop in unit value becomes a prime motivation.
Sophisticated foreigners are clever
when they perceive a bargain. European real estate doesn’t hold a candle to comparably priced properties found in the
States. The appeal of buying a trophy property, even at a high domestic dollar price, is acceptable when it is paid for in
a dramatically appreciated currency. The risk of another real estate bubble is real with new eager foreign buyers in the marketplace.
But is this a bona fide free market, or is it a slick way of turning a quick profit for Trump type tycoons? Ask Mitsubishi Estate how well they did with Rockefeller Center!
Remember the recent experience
from the 1980’s. According to Michael M. Hutchison, a professor of economics at UCSC - The Political Economy of Japanese Monetary
Policy - "Real estate prices were so out of line that at one time the land
beneath the Emperor's Palace in Tokyo was considered more valuable than all of California." Don’t worry NYC won’t
reach such lofty heights; it’s still a top target for mysterious implosions. Whether towers collapsing or equity exchanges
crashing, the Big Apple has always been the center of alien incursion into the country.
The effect of foreigners buying
up American properties is less risky than open borders. At least the wealthy put down payment in cash, when they take out
a mortgage. When payment is made in full, they infuse needed liquidity back into the system. The keys they buy at least have
a known address to tax. However, within a doomed dollar economy, migratory immigrants infiltrate across state lines in a frantic
search for grabbing a fast greenback to take back to their wetback homestead. A weak dollar, accompanied by higher domestic
prices, encourages greedy corporate interests to hire even more lowly skilled labor. Native inhabitants already know that
the work game at low wages with high taxes is a formula for poverty.
Those affluent foreign investors
will need cheap “hired help” to keep those overpriced mansions up to snuff. Nothing new in the world economic
equation - disproportionate musical chairs – makes for an unstable political economy. Currency devaluation may not be official, but is occurring each day. When the bureaucrats get around to adjust the
tables, the politicians will place blame on faulty bookkeeping. The net result of this insidious practice is a drastic reduction
in the quality of life for most Americans. This sinister plot is designed to eliminate the middle class. The cultural consequences
will be monumental. The influx of sub standard foreigners will not jeopardize the privileged lifestyle of the well heeled.
But for the rest of the ordinary, only incompatibility will be the daily dread.
The alien assault is intended to diminish future prospects for prosperity and to eradicate traditional culture
and a common language. Look at this invasion as a coordinated policy with the destruction of the dollar. Downsizing, outsourcing
and “Free Trade” has caused the eradication of the means to create wealth. The American Dream is further destroyed
as the dollar becomes marginal. A discounted dollar policy may increase exports for transnational companies, but domestic
workers seldom benefit. When the jobs are gone and prices rise as the means
to earn or acquire additional money disappears, how can the country remain a beacon of hope?
Bipartisan treachery allows this
social and fiscal tyranny. The measured decay of true national interests has taken decades to get to the point of no return.
All that is left is to sell off precious resources to foreigners in the pathetic desire to postpone the day of reckoning. When the value of a currency loses its integrity, replacement can’t be far off.
When the cashless society is fully imposed, the worth of your money will be posted at a rate determined by government decree.
Maybe those wealthy foreigners aren’t that stupid after all, having posh quarters with an auspicious address is perfect,
especially when you have input on making the rules that keep all the ‘little people’ paying for the system to
SARTRE - December 8, 2004