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Geithner "Debauches" the Dollar

BEGIN TRANSCRIPT

RUSH: Joe in southwest Michigan. Welcome to Open Line Friday. Great to have you here, sir. Hello.

CALLER: Hi, Rush. I think what's happening is all this spending is a smoke screen for debauching the dollar. I don't think any person who's studied economics could see it any other way. I don't think anybody could be making this big a mistake. I think they're debauching the dollar.

RUSH: What do you mean precisely by "debauching the dollar"?

CALLER: Well, you make the dollar more and more worthless until it gets to the point where nobody wants it and then up end up with them going to the global or some other kind of dollar.

RUSH: You mean Obama's doing it via the Fed, right, all the printing?

CALLER: Right, Geithner and Bernanke. Geithner, he ought to know better. He's worked on Wall Street. He should know what's going on.

RUSH: Why would they want to do that?

CALLER: Well, I think it undermines our sovereignty, and the people that it hurts the worst are your seniors. It's taking your savings your life savings and cutting them in half and less.

RUSH: Now, that's an excellent point, by the way. While everybody claims to be on the lookout for our seniors, it's the policies of the regime which threaten seniors. Anybody on a fixed income. Greatest. That's absolutely true. No question. Joe, thanks very much for the phone call.

BREAK TRANSCRIPT

RUSH: By the way, there's a method to the madness of Little Timmy Geithner and Obama in "debauching the dollar," as our caller referred to it. He means devaluing it, and when you devalue the dollar, many things happen, but one of the things that happens is it means paying off your own debt is much easier. It takes a lot fewer dollars to pay off your own debt because you're devaluing the whole thing. So it's a very... The ChiComs don't like it. The ChiComs think we're being very selfish, roiling world markets, trying to retire our debt by devaluing our currency which happens to be a world benchmark. The ChiComs not happy about that.

BREAK TRANSCRIPT

RUSH: George in Indiana, hi. Welcome to the EIB Network. Great to have you here, sir. Hello.

CALLER: Rush, what a pleasure to speak with you. I'm in North Vernon, Indiana. We're about 65 miles north of Louisville, Kentucky, and about 75 miles east of Cincinnati, Ohio, and we're in kind of the middle of the poverty belt, I guess you would say; and my comment has changed a little bit listening to you talk about all of these rich Republicans that are sending money to help with the Leukemia & Lymphoma Society.

RUSH: Yeah. (chuckling)

CALLER: And I guess maybe things aren't as bad as I'm thinking they are, but the more people that I run into in our particular area, it seems like they're becoming more and more dependent upon the government. Even our town, I hate to say, is more dependent on the government programs and money that comes in in different ways that's not just taxpayer money.

RUSH: Your instincts are right on the money. We had 45.6%, I think, percent is the number. Only 45.6% of people in the country are working, and this is the strategy. This is the mechanism of the Democrat Party. It's what I was telling Mr. Trump. I mean, there is an effort out there. There's a method to this madness. Creating economic distress is how the Democrat Party expands. Stop and think of that. That's it in a nutshell, and it really doesn't need any further explanation. The Democrat Party does best, in their minds, when people are economically depressed and hurting -- and that's a circumstance they're not crying about. They may lament the loss of jobs and all that stuff, but they actually try to benefit from it.

END TRANSCRIPT

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