The U.S. Government's Plan to Trash the American Dollar

Speaking at the Casey Research Summit: The Next Few Years, which just took place in Boca Raton, Fl, Jim Rickards told attendees: “If the consumer is flattish, investments are petering out, and government spending has hit the wall, what’s left? Well, what’s left are net exports and how do you drive net exports? You trash your currency. It’s as simple as that. You basically try to devalue the dollar and that’s what’s behind QE, QE2, and that’s what’s behind low interest rates. Basically, [the U.S. Government] is doing everything possible to trash the dollar relative to other currencies to drive exports so that Boeing can sell more jets, IBM can sell more services, and that’s sort of the classic remedy. The only problem with this remedy is it’s never worked.” We’ve got the highlights of his speech in the video below.