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Turn dollars into tangible assets to protect Alaska's future

Posted: December 4, 2012 - 12:01am

Alaskans have about $40 billion invested in our Permanent Fund. Dollars invested in businesses and nations throughout the world. Most believe dollars are wealth. In the end, dollars are only a tool used to help the people, prosper. Our dollars, created by the private Federal Reserve Bank are accepted around the globe. They are backed, by nothing more than the “good faith and credit” of the American people.

One day, the people of the world will no longer accept our dollars, simply on “good faith and credit.” What happens to our Permanent Fund then? Do we actually own some tangible assets?

For decades now, Alaskans have begged our politicians to build an All-Alaska Gasline. Every election season we hear the politicians tickle our ears, for hope, of a gasline. After their election we see no public campaigning for an All-Alaska Gasline, by those we elect. Only defeated proposals and delays.

It is time for the people to rattle our shackles of containment. Dollars have no intrinsic value. We need to take some of our dollars, out of the Permanent Fund, and invest it into infrastructure projects. Real assets with value to all people of Alaska.

With the dollar’s loss, as the world’s reserve currency, will come the collapse of our Permanent Fund. Taking dollars and turning them into an asset like the All-Alaska Gas-line will protect our investments for future generations, regardless of what happens to the all-mighty dollar.

We know what the politicians will do, delay, delay, delay. Will we demand an All-Alaska Gasline as the previous generation did regarding our All-Alaska Oil line?

We must recognize, the true wealth of a nation is not in dollars, but our productive capacity as a people. Let’s turn some of our dollars into something of true value, a tangible asset we can sink our teeth into.

Ray Southwell

Nikiski

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