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Government's attack on the dollar: the government is weakening the value of the dollar through deficit spending, thereby passing on a huge hidden tax to American citizens.(ECONOMY)(Cover Story)

The New American

| April 18, 2005 | McManus, John F. | COPYRIGHT 2005 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

"The ol' dollar, it's gonna go down. I'm short on the dollar." So warned Bill Gates, reportedly the world's richest man, at the January 2005 World Economic Forum in Davos, Switzerland. Describing the situation as "scary," he added, "We're in uncharted territory when the world's reserve currency has so much outstanding debt." Forum attendees from Europe and Asia echoed his fears.

Five weeks later, billionaire American investor Warren Buffett surveyed the deteriorating condition of the dollar and told his company's shareholders, "The decline in its value has already been substantial, but is nevertheless likely to continue." Pointing to our government's enormous ...

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