Dollar Loses Reserve Status to Yen and Euro
October 17th, 2009 - 11:32am
Filed under Economy
The Euro and Yen now are favored by central banks as the reserve currency. The U.S. Fed Chief, Bernanke could go down in history as "the man who killed the greenback on the operating table (New York Post)". He's credited with printing trillions of new dollars and bonds to stimulate the economy, but is now facing inflation and recession instead. Economists suggest that Bernanke start raising interest rates and "pull back the flood of currency spewed from U.S. printing press."
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