Thursday, April 28, 2011

Transferring Wealth

From the people to the elite. The Dual Mandate of the Federal Reserve
One problem of many that we have right now is how the Fed views the American currency. They do not perceive their primary role as one of defending the currency. Instead they view the value of the dollar as one input of many in their econometric model. And, as they see it, inputting a weak dollar into the model results in economic growth because it can increase exports from the US. Yes, I am saying the trashing of the dollar is very intentional. It's also a fools game, because ultimately it will kill the average American's pocketbook, make it harder to finance the deficit (who wants to buy the debt of a nation whose currency can't be trusted?), and generally impoverish most while enriching a few.
Emphasis mine. They are siphoning the money right out of your savings account, you still have your money but it is worth less.

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