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The US Dollar is Doomed
Now that the Fed Chairman Bernanke has rolled out the printing presses for QE2, many believe the dollar will soon be worth less than a square of toilet paper. The argument goes that this is an unwarranted expansion of currency.
There is a theory that an expansion of currency is unwarranted. However, this theory requires a consumer to believe that the dollar’s value is determined based on the gold standard. Simply put, an individual must believe that the more US dollar there is in circulation, the less each of it is worth. The value of the US dollar is determined by its potential to make money. Hence, a higher demand for dollar causes it to strengthen.
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