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SeC 01-22-2009 06:58 AM

Current economic adviser to President Barack Obama warns of U.S. dollar Crash
 
Paul Volcker, the former chief of the U.S. Federal Reserve and current economic adviser to President Barack Obama warns of U.S. dollar Crash

Tobias Bayer (Frankfurt)

He was famous for his tough anti-inflation rate at the top of the U.S. central bank in the'80s. Now the 81-year-old adviser to Obama. In unusually sharp words, he drew a gloomy picture of the U.S. economy.

Paul Volcker, the former chief of the U.S. Federal Reserve and current economic adviser to President Barack Obama, has one U.S. dollars Crash warned. "There is a risk that confidence in the dollar is falling," Volcker said on Wednesday at the Senate hearing of the Finance Minister-designate Timothy Geithner. For the U.S. economy, he is very skeptical. The end of the recession was not foreseeable that the world is placed in the middle of the "mother of all crises."

Continue to read:
Translated version of http://www.ftd.de/boersen_maerkte/aktien/anleihen_devisen/:Mutter-aller-Krisen-Volcker-warnt-vor-Dollarcrash/463947.html

BlueAngel 01-22-2009 07:30 PM

Re: Current economic adviser to President Barack Obama warns of U.S. dollar Crash
 
Like we needed this man to tell us that there is a risk that confidence in the US dollar is failing.

You don't need a degree in finance to know that.


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