Brannon's guest is Craig Smith. Craig is the author of the new book, "Crashing the Dollar: How to Survive a Global Currency Collapse." The current economic downturn - the worst since the Great Depression - will soon be replaced, this book predicts, by severe inflation that could destroy the value of the U.S. Dollar. The dollar is the world's "reserve currency," used in international purchases of oil and other key commodities, and in central bank reserves that many other countries use to support their own currencies.
Inflation is coming, this book argues, because the United States now has combined short-term and long-term obligations of more than $120 trillion.
The most politically palatable way to pay these obligations is by "monetizing the debt," running tens of trillions of dollars off the printing press, which will cause the dollar's value to plunge and prices to soar.
Such a deluge of dollars would cause severe inflation - perhaps even hyper inflation - in the U.S., as well as a potential domino-effect collapse of the U.S. Dollar and other major currencies and economies around the world. This, the book shows, might be President Barack Obama's real secret aim in his policies that can destroy free enterprise and American power worldwide by deliberately crashing the dollar.
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