http://www.ft.com/cms/s/0/5505a7f0-d7c2-11df-b478-00144feabdc0.html
Dollar fall sparks stability warnings
By David Oakley and Peter Garnham in London and Michael Mackenzie in New York
Published: October 14 2010 19:55 | Last updated: October 14 2010 19:55
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The dollar tumbled against most major currencies on Thursday, prompting warnings that the weakness of the world’s reserve currency could destabilise the global economy and push other countries into retaliatory devaluations to underwrite their exports.
Increasing expectations the Federal Reserve will pump more money into the US economy next month under a policy known as quantitative easing sent the dollar to new lows against the Chinese renminbi, Swiss franc and Australian dollar. It dropped to a 15-year low against the yen and an eight-month low against the euro.
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Why? Is QE2 a raid on the treasury? Privatize the gains; socialize the losses! A plague on all their houses.
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Reinke Faces Life 