Traverse City Record-Eagle

Your Views

May 1, 2012

Letters to the Editor: 05/01/2012

Government is lying

Prior to Aug. 15, 1971, foreign holders of U.S. dollars could covert them into gold at a rate of $35/ounce, as each dollar printed was supposed to be backed by gold. In the 1960s, the U.S. printed far more dollars than they had gold to back it up. Several countries, such as France, wised up and started redeeming their dollars for gold bullion. Nixon closed the "gold window" to prevent a complete loss of gold reserves, blaming the run on the dollar to "speculators."

Today it takes $1,650 to buy an ounce of gold, 47 times more than in 1971. Watch the Nixon speech on YouTube; it will remind you of today's politicians talking about "evil speculators" running up the price of gas. As for gas, in 1964, when money was real, a 1964 silver quarter would buy one gallon of gas. That quarter today is worth $5.64. So much for "evil speculators." Your government is lying to you.

Michael O'Connor

Traverse City

Business and government

Businesses that raise prices to their best customers and then give their products away free to about half their customers fail. Businesses that borrow money with no plans to repay the loans fail. Businesses that do not have and follow a budget fail.

Businesses that provide warranties but have no provision to honor them fail. Businesses which invest in the boss's buddies' ventures fail. Businesses that have multiple groups of employees doing the same thing fail. Businesses that treat their employees better than they treat their customers fail. Businesses that provide poor quality products fail.

Businesses that add overhead costs during an economic downturn fail. Businesses that force restrictions on their suppliers/vendors which force them to go out of business fail. Businesses that blame their problems on everything except the management fail. Businesses that do not downsize when needed fail. Businesses that blame their competitors for their poor performance fail.

It is my opinion that there is a lot in common between the federal government and business, and if there is no change in Washington, our country will fail.

John McCombs

Traverse City

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