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The Smart Money Says You Need to Sell the Dollar Today
How to Sell the Dollar
In 2004, then Treasury Secretary John Snow was traipsing about the globe trying to “talk the dollar down.†Why? In a word: debt. At the time, our debt stood at $7 trillion, with interest payments in fiscal 2003 totaling $318 billion. But now the U.S. national debt stands above $9 trillion, with interest payments in fiscal 2007 adding $1.4 billion a day.
But the Fed and Treasury have engineered a strategy to pay off the debt with weaker and weaker dollars. And guess what? So far, so good. Since November 2002, the dollar has fallen against the…
6Aug2008 | The Penny Sleuth | Comments Off | Continued
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