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New Book Release: Demise of the Dollar, Reloaded

Posted April 28, 2008

by J. Christoph Amberger

Baltimore — (TFN): When U.S. manufacturers and exporters lobbied the Bush Administration back in late 2001 to reduce the valuation of the US dollar against currencies like the yen and the euro (which was about to replace all individual national currencies in the Eurozone on January 2, 2002), the reply was that the Administration and the Federal Reserve would be continuing to support a “strong dollar policy”.

We no longer can tell if this was said with a straight face. Or if there was nudging and winking involved. Because while the catchphrase remains the same today, the dollar has since plummeted against most currencies in the world.

So far, U.S. exporters have had no complaints. The same cannot be said for European and now even Chinese manufacturers: Every percentage point the dollar drops in value takes a bite out of their export profit margins.

But the low dollar has pushed up prices for oil, gold, and other speculative commodities. The resulting commodities bubble is jacking up inflation the in the United States. It has reached the point that foreign investors, led by the Japanese, are about to stop financing the U.S. trade deficit, trimming their investments in dollar-denominated U.S. Treasuries.

No time like the present then to get the second, updated edition of Addison Wiggin’s anti-dollar dossier The Decline of the Dollar… now out in paperback.

Click here to read more…

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Posted by J. Christoph Amberger · Filed Under News that Matters 

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