Convict that Bankrolls Media Matters Betting to Get Rich On U.S. Collapse

And you can bet you last (devalued) dollar that Media Matters, Think Progress and all the other anti-American organizations will be cheering the entire way down.

The Fed's new action, labeled "quantitative easing" or QE2, follows a first attempt at "QE," known as QE1. QE means that the Federal Reserve is printing more money and buying more government debt. In total, according to Investor's Business Daily, "the Fed will have created $2.5 trillion out of the blue."

Diamond said the result of the Fed's policy will be to "increase the debt, devalue our currency and create a bigger problem that won't solve the crisis."

Eventually, America could "collapse under its own weight of massive debt," he warned.

The QE2 "will devalue the dollar and lead to higher commodity prices, asset and price inflation. It may even lead to the end of the U.S. dollar as the world reserve currency," Diamond predicted. He noted that Obama Treasury Secretary Timothy Geithner floated the idea of the dollar losing its status as the world’s reserve currency, "only to backpedal from it when it raised some eyebrows."

"What is most troubling to me about this," Diamond added, "is that the Fed's QE2 is in alignment with George Soros's agenda to destroy global capitalism."

The decline of the dollar "is what George Soros wants and what he has proposed in the past," he noted.

Soros, the billionaire hedge fund operator who finances various leftist and Marxist groups, including Media Matters, has made his fortune by betting on the collapse of national economies and currencies. He was convicted of insider trading in France.

Soros also has no regrets about collaborating with the Nazis, so that tells you something about his moral character.

Economists try to make the "science" painfully difficult, but it really isn't complicated. Every thing has worth, and that worth will fluctuate based upon supply and demand. If the object in question (currency) is scarce and/or in high demand, the relative worth of that object increases. If that object is common/in low demand, the relative worth of that object decreases.

The Fed, acting as Soros would like, is literally printing money that is not backed by demand. That makes the value of all the other U.S currency in circulation worth less on a dollar for dollar basis. For example, a dollar today may be worth a dollar, but after the government printing presses kick and spit our $2.5 trillion dollars without much worth behind it, your dollar may be worth only $.80, or even less. By printing too much money, the government is literally robbing your salary of its worth, decreasing your purchasing power.

We talk about higher taxes and the damage that will do to American business, but I suspect that if more Americans knew what the impact was of the Obama Administration's intentional devaluation of the dollar how it hurts the majority of Americans, and who it makes rich, then riots would ensue... and with just cause.