From today’s interview with Press TV. Their journalist caught me early in the day before I had done any cussing, so I probably wasn’t as caustic as I should have been.
Experts are correct in blaming the US Federal Reserve’s policies for a nosedive that the US dollar has taken in value, says an American analyst.
“The dollar has lost more than 95 percent of its value since the Federal Reserve was created in 1913,” author James Bovard, told Press TV on Thursday…
The Federal Reserve was supposed to “maintain a stable currency; instead it has destroyed the value of US dollar,” added Bovard.
“This is one more example of why we can’t trust politicians that guard the value of money or anything else,” he stated.
They have “kept the interest rates at basically zero for year after year,” he maintained. “That has crucified the middle class.”
“But it has worked out very well for the politicians and for the super rich who are able to play the market and sometimes have inside information on what the Federal Reserve is going to do,” he said.
“Gold has maintained its value far better than has the US dollar and that is one more reason why the current situation where folks are basically forced to put their reliance on a government-issued currency that has no backing, that is a recipe for economic suicide,” the analyst concluded.