Not to be too nitpickee, but the loss to the dollar is only 41%. The gain in the euro is 72%. Ron Paul hammered away at Bernake over this in hearings yesterday. Bernake's argument is that if your wealth is in dollars, and everything you purchase is in dollars, and inflation remains in check, then the drop in value doesn't affect you at all. Of course it's murdering those who own dollars and want to buy stuff in Euros or chinese Yuans.
z | 11.09.07 - 11:30 am | #