QE2 save the United States approved only know how Bernanke is printing money is not valid|
U.S. Federal Reserve Chairman Ben Bernanke is determined to launch the first two quantitative easing policy (QE2), causing flooding of hot money in emerging markets to stimulate economic performance of the United States not to be good. "Commodities king", the United States Rogers, founder of the Quantum Fund Bernanke yesterday ridiculed only know how to print money, ignorant of economic issues.
Rogers, 68, a speech at Oxford University, said: "Unfortunately, Bernanke do not understand economy, understand money, do not understand finance, he only know how to print money. His entire academic career are based on research printing. To his a printing press, he will do everything full speed. "
Hard work setbacks in national currency devaluation
U.S. Federal Reserve on Wednesday announced the acquisition of the next 6 months to 600 billion U.S. dollars debt, to drive down the unemployment rate. Rogers said: "The frustration has always been difficult to work in national currency devaluation." Rogers recommends that investors put their money into real assets such as metals or agricultural products, and encouraging students to give up to join the Wall Street, instead of agriculture and mining.
Obama is currently the Chairman of the government's economic recovery, Volcker said: "I do not think the QE2 will be great support for the economy." Volcker noted that quantitative easing is stimulating the economy by lowering interest rates, but U.S. interest rates are already low.
Ministers approved the multinational is not responsible for the United States
South African Finance Minister of the QE2 yesterday criticized the U.S. decision, saying the destruction of G20 leaders to uphold the spirit of multilateral cooperation, including South Africa and other developing countries that suffer.
France and other European officials have expressed concern that will eventually damage the euro zone recovery. German Finance Minister TV interview, fierce condemnation of the United States QE2 will only create more problems for other countries, the United States itself will not solve the problem. Held in Korea next week, the Group of 20 meeting, the German will be serious discussion with the U.S., Germany wants the United States can quickly and effectively solve its big problem, but just look at the experience of Germany, will know that the deficit is not a solution to expand . Brazilian Finance Minister Mantega yesterday severely criticized QE2 will become "sprinkle money from a helicopter" no effect on the U.S. economy, the only effect is that depreciation of the dollar, making the U.S. more competitive in international trade, policy changes, therefore, strongly urge the United States . Mantega pointed out that China, India and Brazil has fulfilled its duty to stimulate domestic consumption, the developed countries of the case. Brazil plans to next week's Group of 20 (G20) meeting discussed the issue of war currency.
Japanese Finance Minister Ye Tian Jiayan 4, said the government would not ignore the substantial appreciation of the yen will once again intervene in the foreign exchange market when necessary.
Planning and the Ministry of Finance announced that South Korea would consider measures to control capital influx. Bank of Korea to sell won to the market to prevent the won-dollar exchange rate rise further.
People's Bank of China Monetary Policy Committee Xia Bin 4 in the British "Financial Times" published an article on, noted that China has to use exchange rate policy and capital management policies, efforts to build a firewall against external shocks.
Next week the Group of 20 summit in Seoul, Korea, the United States has been hoping to force China to speed up appreciation of the renminbi, Geithner G20 finance ministers and central bank earlier in the meeting of Governors, also proposed to make 4% of the current account surplus or deficit limit Finally, the multi-national opposition fell through. U.S. hegemony and global economic imbalances is the main reason for the crisis, to find a new reserve currency to solve global economic problems, the dollar era is coming to an end.
If the dollar's role as a global reserve currency the end, but is expected to solve the problem. If the United States in the global economy still led the way, the status of dollar reserves, there is truth, but now the United States to the credit crisis, economic slowdown, developing countries will account for 5 years, more than half the total global economy, the dollar hegemony becomes unconscionable. Countries around the world began to question the status of dollar as a reserve currency, the U.S. government's debt capacity has also been questioned.
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Article Added on Friday, April 6, 2012
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