Fed is about to play the strongest hand poker in world history of monetary policy

Head of the Federal Reserve (Fed), Ben Bernanke, is about to play the strongest hand in poker history of monetary policy by trying to force China to abandon the fixed exchange rate of yuan-dollar, believes Peter Navarro, professor of economics at the University of California-Irvine.

This is high stakes poker, comments Navarro
Even if Bernanke will not take place at the table G20 meeting in South Korea, and China attended as a play book to 600 billion dollars to support the U.S. economy, each participating economy to suffer from a meeting of course highly undervalued yuan, fixed to a rapidly depreciating dollar that is due to measures Fed.

Breaking a fixed rate between China and the U.S. currency is the most important step you can do to a G20 robust economic recovery and stability of financial markets, says professor of economics.

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Posted by M Cosmin on Nov 11 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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