(Blogger's Note: The following is a excerpt from the book The Fall of America written by the Most Honorable Elijah Muhammad. It was published in 1973 but relevant right now. To order a copy visit:http://store.finalcall.com/)
Chapter 20: The Decline of the Dollar
The strong-hold of the American government is falling to pieces. She has lost her prestige among the nations of the earth. One of the greatest powers of America was her dollar. The loss of such power will bring any nation to weakness, for this is the media of exchange between nations. The English pound and the American dollar have been the power and beckoning light of these two great powers. But when the world went off the gold and silver standard, the financial doom of England and America was sealed.
The pound has lost 50 percent of its value. America’s dollar has lost everything now as power backing for her currency, which was backed by gold for every $5 note and up. All of her currency was backed by silver, from a $1 note up.
But today, the currency of America is not backed by any sound value - silver or gold. The note today is something that the government declares they will give you the value in return, but does not name what the value is. But they definitely are not backing their currency with silver or gold.
This is the number - one fall, and it is very clear that the loss of the power of the American dollar means the loss of the financial power of America. What will happen since there is no sound backing for her notes we do not know.
What should we expect even in the next twelve months under the fall of the power of America’s dollar? This means that we have 100 percent inflation. What could happen under 100 percent inflation? Your guess is as good as mine. The power of gold and silver was once abundant in America. But the touch of the finger of God against the power of so mighty a nation has now caused the crumbling and fall of America.