The View From 1776
Friday, April 22, 2011
The Dollar: Look Out Below
The dollar continues its rapid slide, measured against a basket of other currencies. It’s not that U.S. officials are asleep at the switch. They are actively pushing to inflate the dollar as a means to finance our accelerating deficit and massive public debt.
Standard & Poors fired a warning shot across the bow of the Treasury and the Fed, downgrading the outlook for the dollar. Now emerging economies around the globe are coming together to develop an alternative currency to the increasingly worthless dollar.
See Developing Countries Plan to Challenge U.S. Dollar on The Fiscal Times website.