Blogs » A Constitutionalist & Believer in Natural Law » The Dollar is Under Global Attack.

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President Obama was not full of his usual happy demeanor, after this weekend G-7 meeting. The G-7 refused to admit to the public they had discussed the dollar and proposals to rescue the dollar. Since the meeting, the dollar has lost value in major currencies markets around the world. The slide is on, and the bottom is unknown.

As the dollar falls citizens in our area and across America will see prices of imports climb. Electronic prices that have been falling over the last few years will start moving back up. Price increases in Imported clothing and food will also hit our already suffering citizens.

A falling dollar is not all bad; United States exports will be cheaper for most countries. The problem is America no longer has products from numerous industrial-manufacturing complexes to export. South American countries and some European countries are even challenging our farm and ranch markets around the world.

Another positive to a weak dollar, we will see an increase in foreign tourist. Their currency will buy them more. Hopefully, it will increase employment. They may even start buying more of America. But, I believe, China and Japan will be reluctant to invest in America real estate anytime soon and the current housing burst.

A falling dollar hurts countries that hold our debt, it is becoming worth less each month. Global governments, central banks, companies and investors continue to slash their dollar holdings. The Euro appears at the moment to be leading favorite currency of exchange.

More countries are calling for the World Bank and the International Monetary Fund to find alternatives to the United States dollar as the global standard of financial trading. Russia, China, and the OPEC countries are pushing for a single Global Currency.

The World Bank and IMF are holding meetings in Istanbul next week; discussions will be centered on proposals to replace the American dollar.

We can only guess and speculate if a Global currency becomes reality, how life in America will change, and when the attack on the dollar ends.