FLASH: Jack Lew says he will maintain strong dollar policy if confirmed as Treasury Secretary
— Bloomberg News (@BloombergNews) February 13, 2013
No word yet on whether or not Chuck Hagel wants to mainintain America’s foreign policy of strict non-intervention.
Lew has no intention of even maintaining America’s weak dollar policy. Once the plutocracy starts to fear default, Lew will be sure to keep the money creation going 24/7 to make sure his friends get theirs first. The middle classes of course will be left holding a bag full of worthless currency.
But Lew will have plenty of friends in crony capitalism’s end game, as evidenced by this article from Slate economist and Austrian-loather Matthew Yglesias [NB: He’s not being ironic]:
Currency Wars. They’re like real wars, except instead of everyone suffering we all benefit! slate.com/articles/busin…
— Matt Yglesias (@mattyglesias) February 12, 2013
As Ron Paul explains here, currency wars are also a form of protection and essentially a political game not driven by economic reasoning.
Follow me at @ryanmcmaken11:24 am on February 13, 2013 Email Ryan McMaken