10/05/09 Stockholm, Sweden Even with the US dollar’s deterioration over the past six months, the G7 has decided to let it continue to fall.
Forbes reports today that the G7 “abandons the dollar.” This is despite problems, such as economic instability, that a weakening dollar can cause central bankers around the world.
From the US perspective, there are some benefits associated with a weaker dollar, in terms of increased exports and the possibility of inflating away the massive debt the government is building up so quickly. Of course, it would be better if the US were not creating an enormous pile of debt in the first place.
You can visit Forbes for more details on the G7 and the weakening dollar.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
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