Will Grigg's Liberty Minute

September 26, 2007

The last time the Canadian dollar, known as the ?Loonie,? was equal in value to the Greenback, Gerald Ford was in the White House. In May 2004 the Canadian Loonie was worth 72 cents. On September 20 of this year, it caught and passed the dollar. One result will be higher energy costs, since the US imports more oil from Canada than from the Middle East.

Just three days before the Loonie eclipsed the dollar, the Federal Reserve cut interest rates. This caused a dramatic drop in the dollar's value: Gold increased to $736 an ounce, and oil rose to over $82 a barrel.

Significantly, Saudi Arabia's rulers are beginning to distance themselves from the dollar. Washington depends on Saudi purchases of Treasury notes, and their insistence on selling oil only in dollars, to keep the greenback afloat.

What settlement will be imposed on our country once our foreign creditors abandon the decrepit dollar?

Let us take back the liberty wherewith Christ has made us free.