THE BLOG
07/14/2008 05:12 am ET Updated Dec 06, 2017

"Weapons of Mass Financial Destruction" at the G8 Summit

I was on Al Jazeera live from Doha, Qatar Sunday talking about the G8 meeting, the U.S. dollar and weapons of mass financial destruction (the U.S. dollar).

Al-jazeera: Max Keiser is a financial analyst and commentator. He says there's one likely subject that should be addressed at the G8 summit.

Max Keiser: Inflation is caused by monetary increase -- the increase in money supply. For the past year, money supply around the world has been skyrocketing and this has caused the price of those commodities priced in dollars like oil and food to go up. If you want to solve this problem you have to address the fact that these investment banks and these federal reserve banks are flooding the system with cash, with dollars, with these things -- US dollars. This is a weapon of mass financial destruction as Warren Buffett has called it. The US dollar this is the problem. There are too many of them in the system and they're causing inflation. And, unfortunately, the G8 doesn't have an item on their agenda that is clearly going to address this issue head on.