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Bernanke "advocates" weakening the U.S. Dollar

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posted on Feb, 18 2011 @ 10:31 AM
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Perhaps Sarkozy is offering that the IMF will guarantee China's more than $2 trillion of reserves (mostly dollars) with IMF special drawing rights (SDRs). That way the dollar can collapse without China suffering much loss in the value of its savings.


I must say, I cannot vouch for the credibility of the website this info came from, as I just bumped into it by "happenchance". However, this caught my attention, and I thought I would share. This in my mind is a "plausible" scenario, lets see what unfolds from here.
www.idealtaxes.com...




posted on Feb, 18 2011 @ 10:48 AM
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reply to post by G.A.G.
 


The Bernanke is a tool!
I flame him



posted on Feb, 18 2011 @ 10:57 AM
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reply to post by camaro68ss
 

Thankyou for reply...I agree with your comment and your choice of "68camaro", excellent!!



posted on Feb, 18 2011 @ 11:57 AM
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I do challenge the conclusions drawn by the author of the article. What China is getting in return is a stable international market. The global economy is a mess, China's is an important player in the global economy and without their support any attempts at a global solution will be flawed. The best chance for a global solution is with the SDR and it's history as an international trading tool. It is hoped eventually that the Yuan and many other currencies will become a part of the SDR, but there are many difficult issues to work through first. The G20 has only recently acquired policy control of the IMF from the CRF. This first meeting sounds like a good start to establish some common economic metrics.

As for Bernanke advocating the weakening of the USD, that mean print more money. As more new money enters the market the money already there becomes weaker. I did not see this mentioned in the article you linked to. It is still too early to say if any economic weakening will occur as the SDR builds strength.



posted on Feb, 18 2011 @ 12:16 PM
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reply to post by kwakakev
 


As for Bernanke advocating the weakening of the USD, that mean print more money. As more new money enters the market the money already there becomes weaker. I did not see this mentioned in the article you linked to. It is still too early to say if any economic weakening will occur as the SDR builds strength.


Thankyou for you insight into this matter. Truth is, you will not find it in that particular article, I am sorry if that was misleading. Also, I would like to add, I genuinly believe that over the last few years, as they were issuing "new" bills of currency, under the guises of "counterfit prevention" (coinage too), they used this opportunity to inject more "new" bills than "old" ones, taken out of circulation. That too has had an effect of downward pressure on the value. (I hope I said that right).



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