The Fed is screwing us again!

Price of gold at over $1400 per ounce! The predictions of all the Austrian economists came true (every single one of them thought the dollar would drop down that low before the end of 2010). When will the masses (yes, I use this socialist word for those who do not deserve to be called individuals) finally start listening to people like Peter Schiff, Gerald Celente, or the Ludwig von Mises Institute? Just to clarify the situation - strong gold means a weak dollar. I wouldn't be surprised if the dollar lost value against the consumer price index as well. And why is this happening right now? Because the US Federal Reserve announced they will buy up another $600 billion worth of government debt. People who hold the dollar are not stupid. They see the supply of their assets rise on the world market thereby reducing the value of their own holdings. So, they get out of the dollar. The safest asset has always been gold, since other currencies can also diminish in value. On that note, I wouldn't be surprised if the dollar lost value against pretty much all currencies like the Euro and Swiss Frank and, to a lesser extend, other currencies pegged to the US Dollar.
Needless to say this is terrible news for the American people. Their currency is falling fast with little hope for recovery. They can buy less and less with their money. Individuals with large cash holdings (savings perhaps) or on set incomes (pension, Social Security, etc.) will see huge loses. And the government will in theory have to pay this debt off too, using tax dollars which will need to be collected (of course these future tax dollars will be worth less than the borrowed dollars, but this doesn't change the fact every American will need to pay them). The Fed is continuing to debase a currency which is now already worth only a small fraction (0.03) of what it was worth when the Federal Reserve was created.
Luckily I personally do not have any US dollar cash holdings to speak of (but some of my family members do!). It worries me that the great and proud American people are being drawn into the same pit as the Zimbabweans under Mugabe...

All who love America and Freedom should take up the cry "End the Fed!" with greats like Representative Ron Paul.