The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: IngotWeTrust who wrote (11456)	9/20/2008 4:30:55 PM
From: zamboz	3 Recommendations Read Replies (2) of 71441

Yes. Volcker. He dispenses some nasty tasting medicine. He was appointed by Carter to do the dirty work of wringing out inflation. He did it by raising rates to 20% in 1981. This crap would not have happened on his watch, the dollar being world currency or not. When Bernanke was lowering rates, Volcker would have raised them. The derivatives are a good point. They were created outside the realm of regulation and are still a huge unknown here. Fingers crossed. Maybe we will pronounce them a bad experiment. Same with hedge funds. Deregulation was a good idea in Reagan's day. However, the Republicans since 1994 have turned it into dogma. In 2000, Phil Gramm ultimately removed banking regulations put in place by FDR to prevent another Depression. Bush has filled government agencies with people told to look the other way. Now we have no choice but to move back the other way. And all of us PM investors will have to wonder how Paul Volcker might influence the economy and the POG if Obama is elected. That is probably a very worthwhile discussion here. I wonder if he is stunned by the devastation.

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