“In May 2007 we wrote a lengthy piece called The Value of the Dollar in which we argued the following:
Consistently excessive money and credit growth has taken the US economy past the point of no return. What (policy makers) have done consistently – and will continue to do – is inflate the money supply and promote more credit, thereby sustaining asset prices at the expense of the purchasing power of the US dollar. We argue the US dollar will ultimatily lose it’s status as the world’s reserve currency. In fact, we believe events currently unfolding may be foreshadowing the dollar’s eventual demise and replacement
The paper updates those views and provides further perspective” …
Source: QB Asset Management
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