- Nov 29, 2006
I think it's about time. About time that others starting to get over the hate for the US and starting to prop the dollar up for the same reasons our gov is bailing out big banks. I don't like the idea of people not owning up to their irresponsibilities, but at the end of the day we'd all go under if intervention doesn't come soon, and nations are reluctantly giving in. A strong dollar right now would halt a lot of crisis everyone is facing, and I think this is good news.
The risk to the dollar in that environment is stark and given few governments around the world have any interest in seeing a further devaluation of the U.S. currency, support for concerted intervention is on the rise.
The dollar's decline has clearly exaggerated oil and food prices worldwide, complicating monetary policies from the United States to the euro zone and Britain as well as to the export-oriented economies of Asia and the Middle East.