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Strategies & Market Trends : The coming US dollar crisis

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To: stsimon who wrote (17984)2/28/2009 11:01:20 PM
From: GST5 Recommendations  Read Replies (1) of 71456
 
The Fed is powerless to stop the collapse of the dollar -- unless the Fed can suddenly wipe clean the slate of what we already owe to foreigners, what we have promised to retirees, what we spend in public consumption that we do not finance from taxes, and what we buy from abroad in excess of what we sell. If the Fed can reverse all of this, then the Fed can control inflation and the fate of the dollar. Otherwise, the fate of the dollar is not in the hands of the Fed.
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