Friday, January 31, 2014

Paul Craig Roberts - Save the Dollar or Save the Banks?

Paul Craig Roberts is a former Assistant Secretary of the Treasury under the Reagan Administration. You can read his bio from this page on his blog site.

He publishes commentary on financial matters regulary. Today he has done an interview with the alternative news media site King World News. His comments in this interview relate directly to the topic we cover here. He thinks 2014 will see some major events that would obviously lead to major monetary system change. His big question, Will the FED save the banks or save the dollar?

Here are a couple of quotes from the interview:

"The biggest financial danger is the collapse of the dollar as the world’s reserve currency.  This would bring about a far greater crisis than the collapse of 3 or 4 big banks.  So that’s what the Fed has got to figure out:  Can it save the banks without bringing the dollar down?" 

"Now since the Fed is really run more by the banks than by the public policy interests, we can’t assume the Fed would make the right decision.  But that is the choice it would face.  And I think it may face that choice before the year is out.  So that is the big financial danger:  What does the Fed do?  Save the dollar, or save the banks.  It can’t do both.”

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