Obama Administration Says “Kill the Dollar”
January 4th, 2012
Up and coming investment guru, Kyle Bass recently disclosed a conversation he had with a senior Obama administration official. The official admitted the government’s economic strategy was to “kill the dollar” which Bass called “a dead answer.”
Kyle Bass is probably a name worth learning. He’s a hedge fund manager from Hayman Capital who predicted the sub-prime mortgage crisis and made a ton of money off it. This is a guy who’s advice to his mom was to buy guns and gold, and who just spent a million dollars on nickles because the metal is worth 6.8 cents and going up. They apparently had to be special ordered by his bank and when the Federal Reserve called and asked what they were for he said, “I just like nickels.” Now he’s betting his fortune on the default of nations.
Last November Bass spoke, for the third year in a row, at AmeriCatalyst 2011 in Austin, Texas. AmeriCatalyst is an invitation-only high-caliber politically neutral think tank for experts on global finance. We’re talking about serious money here. Bass spoke on a panel discussion titled “Come Undone” on the coming sovereign default of indebted nations. He warns that the default of Greece is likely the first domino in a long line of G20 nations and ultimately complete economic collapse on a global scale. During the discussion dropped this bomb:
“The government’s idea right now is we are going to export our way out of this 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.”
In other words America’s got to get back in the exporting business, but to do that manufacturers need a way to compete with foreign wages. Decreasing wages is illegal with minimum wage laws, and repealing minimum wage laws is political suicide. So what they’re going to do, see, is print trillions and trillions of dollars, enriching their bankster friends while causing wild runaway inflation, until your wages are worthless anyway. Then they can move the corporate sweatshops back to the US and solve unemployment by enslaving people to the national debt. Just like all those other countries with huge trade surpluses and hyperinflation like… well I can’t actually think of any. How’s the economy in Zimbabwe?
Of course the answer is always the same. Take Kyle Bass’s advice and buy yourself some of guns and gold.
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