This October 9, 2009 article shows a U.S. Customs form with an SDR (Special Drawing Right) value.
This isn’t a recent phenomenon. The use of SDRs by U.S. federal government institutions goes further back than 2009. According to the United States Postal Service 2003 Annual Report, “The majority of our international accounts are denominated in Special Drawing Rights (SDRs).“
According to the IMF Factsheet on SDRs, “The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves. Its value is based on a basket of four key international currencies (U.S. dollar, Euro, Japanese yen and pound sterling), and SDRs can be exchanged for freely usable currencies.“
How much have SDRs benefited the U.S. Postal Service at the expense of the U.S. dollar?
On December 31, 2002, 1 USD = 0.7382 SDR
On October 18, 2009, 1 USD = 0.6280 SDR
There was a 15% decline in the USD from December 31, 2002 to October 18, 2009.
It’s not just the illegal Federal Reserve that’s been undercutting the U.S. dollar. The constitutional U.S. Postal Service and U.S. Customs are also in on the act.
Picked up by http://thecomingdepression.blogspot.com/2009/10/us-postal-service-undercutting-us.html
Great Job!
If you ask anyone using the US Postal service now about the rising costs and vastly declining service, you will get an earful of complaints. People are shaking their heads while standing in long lines at USPS outlets in big cities after they cut back on employees to handle the customers. The workers feel sorry for the customers, and few of us feel sorry for them, having to handle the immense workloads and crappy conditions.
Since postal service is so vital to most businesses, it only makes sense (cents) that the best way to start draining off funds from the value of the dollar is to suck it out slowly through IMF/SDR agreements and costs. How will this effect Fed X and UPS? Time will tell.
Comments at http://www.reddit.com/r/Economics/comments/9viu5/the_us_postal_service_undercutting_the_us_dollar/
More comments at http://www.ronpaulforums.com/showthread.php?t=215350
More comments at http://www.dailypaul.com/node/111307
More comments at http://www.freerepublic.com/focus/f-news/2368649/posts
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[...] Exposing faux capitalism – part 1 (Covering my previous articles: “The Federal Reserve lies about United States Notes (Lincoln Greenbacks)” and “The U.S. Postal Service: Undercutting the U.S. Dollar Since 2003“ [...]
[...] 25, 2010 by FauxCapitalist Previously, I wrote how the United States Postal Service has been undercutting the U.S. dollar since 2003, with IMF Special Drawing Rights (SDRs) accounting for the majority of their [...]