The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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From: Real Man	1/22/2009 3:57:30 PM
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Well, it looks like Obama's key advisor understands what he's up against. "There’s no escape from the imperative need for the federal government to come to the rescue to right the economic and financial ship of state. Over time, the hard fact is that several trillions of dollars will be necessary to be committed in a combination of budgetary expenditures and various guarantee and insurance programs and extensions of credit by the Federal Reserve. Obviously, commitments made of that magnitude raise very large questions. They are not only questions of avoiding waste of the tax payers money as important as that is; there are also risks of undermining confidence in the dollar and raising fear of future inflation... we are in the midst of the mother of all financial crises.” Former chairman of the Federal Reserve Paul Volcker, January 21, 2009

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