The Dollar Index fell by the most since the first quarter of 2011 after the European Central Bank pledged to protect the euro from unraveling and the Federal Reserve committed to reduce unemployment via open-ended debt buying, which may debase the U.S. currency. (via Bloomberg)
The liberal economists will protest from now until tomorrow claiming that there is no significant threat of inflation. But the reality is that an attenuated dollar is inflation. Thanks to the debt and the monetary policies that have been implemented by the Fed, at the behest of the Obama administration, the purchasing power of consumers has been dramatically diminished.
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