Save the U.S. dollar

“Sound as a dollar” once meant the U.S. dollar. That now describes the Canadian dollar.

The Associated Press confirms this by a business page story, (BDN, July 7-8). “Canadian currency reaches new high” is the headline. And yes, ours is touching bottom.

Does anyone care? Yes, the commodity markets do. Let’s see what the most valuable commodity of all tells us. Based on the fragmentary raw data at the writer’s disposal, it takes 2 percent more Yankee dollars to buy an ounce of gold than a year ago, whereas, Canadians can buy an ounce for 6 percent fewer “loonies.”

Similarly, the value of our money compared to the pound and euro has hit new lows.

How much longer can the U.S. economy float along on a sea of debt and currency expansion? I don’t think we should press our luck to find out.

The Feds should take steps to reduce the money supply. A series of small interest rate hikes to tighten credit would do that and control inflation as well.

If there is a potential presidential aspirant knowledgeable in fiscal and monetary policy, will he please throw his hat in the ring.

Carle G. Gray

Sullivan