Ron Paul Slams Bernanke For Dollar Meltdown
Ron Paul has slammed Federal Reserve Chairman Ben Bernanke for deliberately depreciating the value of the dollar to artificially bail out Wall Street while poor and middle class people lose their homes and have their living standards lowered.
During a Banking Committee hearing on Capitol Hill today, the Texas Congressman confronted Bernanke and accused the Fed of trying to solve the problem of inflation with more inflation by creating artificially low interest rates that have no effect because of the dollar's weakness.
Watch the video.
Paul questioned how it could ever be morally justifiable to deliberately depreciate the dollar and pointed out the fact that the dollar collapse was a deliberate policy on behalf of the Fed.
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Bernanke, Treasury Secretary Henry Paulson and Alan Greenspan have all been busy bad-mouthing the dollar over the past few weeks even as major players like China and Saudi Arabia consider dumping US treasuries, a move that would immediately trigger a dollar meltdown.
Ron Paul identifies the true culprits of the planned economic implosion while the establishment media and the yuppies celebrate the hollow "solution" of an interest rate cut that has no substantive benefit and only increases the risk of another depression by sinking the dollar to historic lows and ensuring foreign holders of US debt run for the door at breakneck speed.
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