Tuesday, January 03, 2012

Report: Obama administration intends to destroy the dollar to "solve" economic crisis, wiping out savings of millions

From:
Gold Price: “We’re Going to Kill the Dollar,” Senior Obama Official

(Beacon Equity Research) -- by Dominique de Kevelioc de Bailleul --

Thinking the gold market has seen its best days? Not a chance, if the Fed and the Washington pathocrats get their way.

Speaking at AmeriCatalyst 2011, in November, hedge fund manager extraordinaire Kyle Bass of Hayman Capital Management LP told attendees he was given one of the strategies for reviving a dying U.S. economy. It involves devaluing the U.S. dollar to affect renewed export demand. Sign-up for my 100% FREE Alerts

No surprise there, really, as the playbook for mature economies, strapped with bizarre levels of public and private debt, deficits and stagnant employment, always opt for trashing the currency to make good on debt promises.

“The governments idea right now is we are going to export our way out of this,” Bass said with a grin. “And when I asked a senior Obama administration official last week how are we going to grow exports if we won’t allow nominal wage deflation, he said we are just going to kill the dollar.”

Gold should soar in the coming years as the cat can no long be contained in the bag, even too obvious to the most financially illiterate among us. How the Fed will explain a continuation of rising food and energy costs should prove interesting.

Why should Bass be told about such a sensitive issue? Most likely the “senior Obama official” wasn’t especially concerned with Kyle Bass and his obscure name recognition level with the public, nor was this “official” prepared to lose credibility with a pretty sharp hedge fund manager with tired government propaganda.

So, how rapidly could the dollar decline to achieve this export miracle.

If the signing of the National Defense Authorization Act (NDAA), suspending a good chunk of the Bill of Rights, by a sitting U.S. president doesn’t provide a strong enough clue to the extent of mayhem expected (feared?) in the coming months in the U.S., it would take similarly blind faith to expect that a baby crawling across a busy highway during rush hour will reach the other side unscathed.

The Godless and humorless woman, Ayn Rand, once said “We can evade reality, but we cannot evade the consequences of evading reality.” Or, taken from another philosophical prospective, the shaman priest could recommend to his ‘flock’ to use the brain that God had given them to figure out what’s most likely in store for the U.S.

And for those who feel too old to bother with such nonsense of currency devaluations and the extra chore involved in learning more about precious metals while living the romanticized ‘golden’ years, the pathocracy that has crept into America’s forefathers’ Republic has already counted the vast majority of you out—sizing up the more-than-65-years-old group as the Greenback cannon fodder for the State of alleged free people dependent upon pensions and savings, too old, too civilized and too shocked to take on low-IQ goon squads in defense of their life savings...MORE...LINK

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