Post by Zoinkers on Nov 22, 2007 23:22:40 GMT -5
Re-value dollar peg now, Forbes urges
by James Bennett on Sunday, 18 November 2007 The Gulf should immediately carry out a one-time revaluation of its US dollar pegged currencies to prevent any further losses against the weakest Greenback in a quarter of a century, Steve Forbes has warned delegates at today's first session at Leaders in Dubia.
The President, CEO and editor-in-chief of Forbes magazine and twice a candidate in the US Presidential primaries, told delegates that a one time revaluation was "essential" for Gulf currencies to regain control against an increasingly weakening dollar.
"Currencies should be stable in value, that's the first rule. Look at what the Federal Reserve has done in the US. By printing too many dollars and allowing the property sector to build four years worth of houses in two years it has created a credit crisis," he said.
www.arabianbusiness.com/504257-forbes-urges-gulf-re-evaluate-dollar-peg?ln=en
by James Bennett on Sunday, 18 November 2007 The Gulf should immediately carry out a one-time revaluation of its US dollar pegged currencies to prevent any further losses against the weakest Greenback in a quarter of a century, Steve Forbes has warned delegates at today's first session at Leaders in Dubia.
The President, CEO and editor-in-chief of Forbes magazine and twice a candidate in the US Presidential primaries, told delegates that a one time revaluation was "essential" for Gulf currencies to regain control against an increasingly weakening dollar.
"Currencies should be stable in value, that's the first rule. Look at what the Federal Reserve has done in the US. By printing too many dollars and allowing the property sector to build four years worth of houses in two years it has created a credit crisis," he said.
www.arabianbusiness.com/504257-forbes-urges-gulf-re-evaluate-dollar-peg?ln=en