Bernanke: The Dollar System Is Flawed

November 30, 2010  •  From
Desperate times call for desperate measures, says the Fed chairman. But what will be the unintended consequences?

Federal Reserve Chairman Ben Bernanke’s speech in Frankfurt may be one of the most important and underreported events since America abandoned the gold standard. In it, he said the dollar standard was flawed and that America’s trade deficit was imperiling America.

“[I]t would be desirable for the global community, over time, to devise [a new] international monetary system,” he said.

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