Our Expansion Experiment

As Ron Paul asked the Fed Chair, how is it morally justifiable to deliberately depreciate our currency?

by Doug French - lewrockwell.com - Oct. 18, 2007

Financial pundits, led by CNBC’s Larry Kudlow, were rooting for the Federal Reserve to "shock and awe" the market with a 50 basis point cut on the Federal Funds rate at the central bank’s September meeting. Fed chair Ben Bernanke didn’t disappoint, and investors recognized further dollar devaluation and sent gold, stock and commodities markets through the roof and the U.S. dollar to the basement. ...

[At this posting, 10/18/07 - 9:55pm ET, $1.4286 USD will buy 1 Euro. - ed.]