Friday, April 15, 2011

Video: Nobel Prize Winning Economist, Joseph Stiglitz, Slams US Dollar

From the YouTube video description at RT:

Joseph Stiglitz is a Nobel Prize winning economist, Columbia University professor, and former Senior Vice President and Chief Economist of the World Bank. In a one-on-one interview at INET's Bretton Woods conference in New Hampshire he told RT why he thinks the US dollar as the reserve currency is hurting the entire world, how Federal Reserve have failed, and why inequality in the US may be reaching a tipping point that hurts the economy and society, with policymakers sending the US further in the wrong direction.

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.