Monday, May 2, 2011
U.S. politicians blithely refer to the collapse of the dollar
For the mass of the dollar bear this indifference was the only witness to further reduce the U.S. dollar. Fed Chairman Ben Bernanke and Treasury Secretary Geithner have demonstrated little concern last week, just at a time when the dollar fell to its lowest level in three years. Only since the beginning of 2010 trade-weighted dollar index has lost more than 8%. Despite the formal commitment of both the strong dollar, none of them could not give a rational explanation for what is happening. At the moment, traders seem to use the mantra of "strong dollar " as another reason for new attacks on the currency whenever it is mentioned about, calling it "empty words".