Following various congressional reports, hosted by USWPost and The Report, a plan to raise taxes on the economy's top four major industries was enacted. Since then, two taxes (Food and Gift) have been passed. Wood and Grain are up next, or so it seems.
Market Watch: USD Crashes in Value!
Following last night's posting by Jewitt to answer critics about the Emergency Tax Plan, otherwise known as the Emergency Legislative Order, the USD's worth has plummeted. He warned in an in-Congress commentary, "Well, although the eAmericans might not be liking this, they will have to lighten up their stance if the USD does, in fact, drop." He was asked when the USD would drop, if at all, by a fellow congressman. He sat there for a moment and scribbled on some paper before responding that "when they put the USD on the Monetary Market, we will be able to tell because the transactions will be side-favorable."
He then gave an explanation on how we would be able to tell if those which were alerted to Teacher's actions before hand - and thus able to purchase more USD at the cheap prices - were listing their money. "They would put it all up at once, more than likely," Jewitt said, "and it will not be consistent with the transverse side of the MM." He was talking about the selling GOLD for USD page, and the selling USD for GOLD page.
A Report Finding: Congressman Aren Perry contacted Jewitt while he was in his desks of The Report working on a study, alerting him of the USD losing value.
"Through some looking into it, my worst fears were appearing on the screen," he said to The Report, "GOLD is selling by offers of anywhere from one to ten units per offer. USD is selling by the thousands collectively rather cheaply. What is even more disturbing is that the eCIA says that the Party has affiliations and contacts within Nippon-" Nippon being the native name for Japan "- and the largest offering on the Monetary Market, and the cheapest, is from a Japanese citizen. I am the last to scream conspiracy, but we can not ignore that this may be the action of purposeful beneficiaries."
Congress has reported it plans to stay with its Emergency Legislative Order and finish it out, claiming that the taxes are needed to pull this excess USD out of circulation before the situation gets any worse.
Despite criticisms, Congress is attempting to meet the concerns, questions, and even ignorable insults from angered eCitizens. Congress has asked that any comments be directed to either The Jewitt Report, if directed towards Jewitt's releases, or the organization eUSA Congress for a speedy response.
Math - We all like it!
Jewitt's original predictions were that, if all of the USD was re-entered into the market at once, that the USD could lose value so much that it would be worth less than any figure seen in post-BETA. His actual figure was 1 USD -> GOLD = 0.0129.
When the Federal Reserve was hacked and fire-sold, the 1 USD -> GOLD ratio was 0.016. It has remained at a steady 0.015 for the past three days. "This is normal," commented Jewitt, "as markets fluctuate. Our currency, without government intervention and with the flat-tax policy we have had, has stayed in the 0.016 and 0.015 region for a long period of time. It even had spikes, up to 0.018 and drops to having a single offer of 0.014."
However, those small 0.014 offers only lasted for moments and were composed of foreign companies or organizations trying to make a quick sale of less than, usually, 100.00 USD. The current offers are in the thousands, and surely more citizens will be selling their own USD at this poor rate.
Slow Value Drop since Fed Fire-Sale
The value has dropped only recently on the USD -> GOLD side, but has consistently dropped on the GOLD -> USD side for the past four days.
When the Fed sold its reserves, 1 GOLD could buy about 68 USD. After the Fed's selling, 1 GOLD could buy around 73 USD. Now 1 GOLD can buy 77 USD, and those offers quickly jump on the current listings to 82, 86, 89, and well over 100. All of these are, collectively, below 20 GOLD in all. This is a small amount, and a terrible indicator that the USD is losing more and more value to the GOLD Standard.
To Do List
Save your USD. Do not spend it. Holding on to it now will stop circulation, and thus raising the value of it. When this is over with, you will have some USD saved up and it will be worth much than it is now.
Vote this article up. The nation needs to know what is going on.
-Jewitt, Chief Editor