The euro, worth 83 cents in the early George W. Bush years, is at $1.47.
The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.
Oil is approaching $100 a barrel. Gold, down to $260 an ounce not so long ago, has surpassed $800.
Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?
Nope. The dollar has plummeted in value, more so in Bush's term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar.
Nor is there any end in sight to the sinking of the dollar.
[Excerpt of an article by Patrick J. Buchanan]