Cutting the rate pushes us closer to a dollar sell off and thus potential hyperinflation, which is what I am most concerned about, as I view it as the true death blow to the US economy and, frankly, the country itself. It will set the stage for the Amero, which we talked about in our report on Culture 2.0. I think we will see a slow and steady march to inflation though, facilitated by a series of rate cuts like this one.

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The Federal Reserve took emergency steps to mitigate the damage to the US economy from the crisis in global credit markets, cutting the discount rate at which it makes loans to banks to 5.75%

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