IMF Badmouths The Dollar In Open Attack On American Middle Class

As part of broader elitist strategy to lower living standards and create two-caste Chinese model

Paul Joseph Watson
Prison Planet
Friday, October 19, 2007

Mirroring recent rhetoric from Alan Greenspan, Ben Bernanke and Henry Paulson, the IMF has publicly badmouthed the dollar, claiming it is "overvalued" despite the fact it has lost over half of its value against the Euro since 2001, and predicts its plunge as part of a broader strategy to sink the American middle class.

Countering the pleas of the French and other eurozone countries, who have been forced to beg Bernanke to restore some trust in the greenback as EU exports begin to feel the bite, the IMF has openly and enthusiastically given the green light for traders to continue to sell the dollar.

"The Fund thinks that the US current account deficit will remain close to 1.5 per cent of world output until 2012, raising the likelihood of a disorderly plunge in the dollar and protectionism growing over the next few years," reports the Financial Times.

In their World Economic Outlook brief, the IMF brazenly states that the agenda in continually badmouthing the dollar is to exalt the Chinese Renminbi in order to contribute to "a necessary rebalancing of demand and to an orderly unwinding of global imbalances."

In layman's terms, this means lowering the living standards of the American middle class by tanking the dollar and sending oil prices skyrocketing towards $200, as part of the "post-industrial revolution" agreed upon by the Bilderberg Group. This would eviscerate the middle class and create a two-caste system based upon the Chinese model, where the super-rich live in opulence and the rest of the population are forced to struggle on the poverty line.

With the effects of the credit crunch hitting more and more lower level lenders, it is clear to see that the fallout is spreading and propagating a general decline. We are seeing the unfolding of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.

The ceaseless bad-mouthing of the dollar in public is clearly part of an orchestrated move to destroy the U.S. economy and pave the way for the Euro to become the world's reserve currency, eventually heralding the birth of the Amero - the currency of the North American Union.

Former Fed Chairman Alan Greenspan has also been active trashing the greenback over the last two months, in September stating that the Euro would replace the dollar as the global reserve currency of choice.

Also last month, Congressman Ron Paul 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 (watch below).

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.

We are witnessing the unfolding of a crash precisely as former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz predicted last year.

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