Web Opinion by Todd Beezley

A Birth Announcement

In case you missed it, something besides the New Year was ushered in when the clock struck midnight on December 31^st.

The Euro was officially born.

The first time I heard about the Euro, I figured it was a new Italian economy car or French punk rock band.

I have yet to conceive of it as the first convertible currency to unite mainland Europe in nearly two thousand years.

But it seems to me like Chairman Greenspan and the boys at the Federal Reserve might be hearing footsteps.

Much as we hate to report it, the dollar is no longer the only game in town.

After considering the impact of this new contender, I anticipate the boys in Washington will soon come to a fork in the road.

Either they will opt to continue allowing the printing presses to run, hoping to postpone an economic judgment day by continuing to artificially depress the price of precious metals and maintain an unrealistically high dollar value on the international markets.

Or they will recognize they are now in an economic war with our European friends. Radical Muslims and others who would like nothing better than to see the destruction of the United States may well choose the route of legal economic terrorism; selling off their dollar holdings and demanding future payments in Euros or driving up the price of gold.

How long can Washington’s house of cards withstand such an assault? When will the world discover the Emperor has no clothes? What will happen to those of us who deal with dollars on a daily basis as inflation eats through our meager savings and threatens to reduce us to third world status?

It could get ugly in a real hurry.

We’ll keep monitoring the situation and providing you with updates.

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