As the Federal Reserve undertakes its second round of quantitative easing, buying up $600 billion of government debt, the line of detractors is getting longer. New to the queue is Zubi Diamond, a U.S. financial author who says that the plan plays right into the hands of George Soros.
“This is the type of stuff we accused the communist and socialist governments of doing—interfering in free markets through currency manipulation,” declared Zubi Diamond, author of The Wizards of Wall Street, to the Canadian Free Press. “What the Fed is doing is not good for free market capitalism and it is not good for America.”
This round of quantitative easing, he predicted, “will devalue the dollar and lead to higher commodity prices, asset and price inflation. It may even lead to the end of the U.S. dollar as the world reserve currency.”
That, he added, plays right into the hands of billionaire, liberal financier George Soros:
“What is most troubling to me about this,” Diamond added, “is that the Fed’s QE2 is in alignment with George Soros’s agenda to destroy global capitalism.” The decline of the dollar “is what George Soros wants and what he has proposed in the past,” he noted.
Soros, the billionaire hedge fund operator who finances various leftist and Marxist groups, including Media Matters, has made his fortune by betting on the collapse of national economies and currencies. He was convicted of insider trading in France.