Senior Obama Admin Official: “We Are Going to Kill the Dollar”

The Intel Hub reports:

According to investor Kyle Bass, a senior Obama administration official stated that their economic plan moving forward involves killing the dollar.  Speaking at AmeriCatalyst 2011, which took place in early November 2011, Kyle explained what the Obama administration official apparently told him.

The full length clip can be viewed here.

Under psychopathic Keynesian economic theory, debasing a nation’s currency supposedly leads to economic growth because it helps exporters.  This is a lot like cutting off the nose to spite the face.   While a worthless dollar certainly helps exporters, it destroys the rest of the economy and impoverishes the vast majority of the citizenry.

“Destroying the dollar” means printing trillions of dollars in government debt, which then becomes new money when the Federal Reserve buys it all up from private banks, who originally got the debt from the treasury.  In this fashion, the private banks and the government get the benefits of all that new money, while the common man gets screwed in the ass.  The ultimate result being that the dollar becomes worthless, which spurs exports because people end up trying to sell their goods for a money that still has value, like the Yuan.

If you would like to see this batshit insane economic theory in action, let us look at the booming economy of Zimbabwe, which has elevated money printing to a new art form:

How the people live:

Use Bitcoins and topple the State.

  • Chsados

    heh, this sounds like bs