UNDERSTANDING THE IMPORTANCE OF THE DOLLAR
25 November 2009 by TPC
1 Comment
Excellent presentation here from John Tamny of Toreador Research & Trading. He not only describes why the dollar is such an important influence on the global economy, but also debunks many myths for why governments prefer a fiat currency based system. This is a must listen in this dollar dependent market:
Seems to me the strength in the dollar during the 1980s and 1990s was the result of high real interest rates created by Volcker and Greenspan, not necessarily the president’s policies. Reagan actually wanted Volcker out after his first term.