The administration is slowly destroying the US economy, intentionally. It’s a wealth transfer, and part of the process is the devaluation of the dollar.
Ben Bernanke’s dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.
Over the last three months, banks put 63 percent of their new cash into euros and yen — not the greenbacks — a nearly complete reversal of the dollar’s onetime dominance for reserves, according to Barclays Capital. The dollar’s share of new cash in the central banks was down to 37 percent — compared with two-thirds a decade ago.
Currently, dollars account for about 62 percent of the currency reserve at central banks — the lowest on record, said the International Monetary Fund.
Bernanke could go down in economic history as the man who killed the greenback on the operating table.
They are simultaneously devaluing the dollar in order to pay back the debt faster, and putting the economy on track for hyper-inflation which will bury us. Rioting in the streets will be the least of their concerns of they do this.
People better put these clowns on notice before it gets to that.