EnduringSense

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Kyle Bass Claims Obama Administration Plans to “Kill the Dollar”

Posted by Steve Markowitz on January 23, 2013

Kyle Bass is claims in the video below that a senior Obama Administration official told him directly that “We are going to kill the dollar.”  Yikes!

There are many pundits who make all sorts of outrageous claims that should be ignored.  Kyle Bass is not one of them.  This is a serious gentleman who foresaw the housing bubble and mortgage crisis before there were any public hints of problems.  His investment arm made a bundle selling those markets short.

If Kyle Bass’s claim is accurate and should the Obama Administration proceed with a plan to “kill the dollar”, significant inflation will follow.  Also, such a policy would drive up interest rates as foreigners will refuse to buy America’s depreciating bonds.  Finally, that policy would start trade wars between countries that also want to export their deficits.  Already, Japan is deflating its Yen that has dropped by more than 10% in recent weeks

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