IMF calls for dollar alternative over Bernanke’s QE2 Printing Binge

Posted on February 11, 2011 by

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The dollar alternatives Fred Bergsten, director of the Peterson Institute for International Economics, said at a conference in Washington that IMF member nations should agree to create $2 trillion worth of SDRs over the next few years. SDRs, he said, “will further diversify the system.”

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As of 2007: There is about $829 billion dollars of U.S. currency in circulation. The majority is held outside the United States.  Source : http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

As of 2011: There is about $986 billion dollars of U.S. currency in circulation The majority is held outside the United States. Source : http://research.stlouisfed.org/fred2/series/WCURCIR

That is a 15.9% increase in the money supply under Ben Bernanke’s printing binge.

How do we reduce that back down to 0%.  INFLATION.  So you can count on at least 16% inflation rate in the VERY NEAR future.  Recall the CARTER DAYS?  He did the same thing but on a MUCH smaller scale.

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