Federal Reserve and Big Banks Are Going to Crush the Dollar … and American Savers
by Washington’s Blog
February 13, 2012
The Fed’s EXPLICIT Goal Is to Devalue the Dollar by 33% … and NEGATIVE Yield Bonds Are Coming
The Federal Reserve’s explicit goal is to devalue the dollar by 33%.
As Forbes’ Charles Kadlec notes:
The Federal Reserve Open Market Committee (FOMC) has made it official: After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years. The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level.
The Fed has announced a course of action that will steal — there is no better word for it — nearly 10 percent of the value of American’s hard earned savings over the next 4 years.
While that is stunning, it is actually par for the course for the Fed:
Here’s a chart of the trade weighted US Dollar from 1973-2009.