Note: This feature length cover story by Chris McMahon originally appeared in the September 2008 issue of Futures Magazine. Link to original @ Futures Magazine USD: Misery Finds Company The Federal Reserve Bank cut 325 basis points from the Fed funds rate from September 2007 through April of this year in an effort to stimulate our flagging economy and to shore up the banking industry in the face of subprime related fallout. The effort may have staved off full blown recession, however it has accelerated inflation and undercut the value of the world's reserve currency. The outgoing administration of George W. Bush has spent nearly two full terms in a state of denial regarding the weakening U.S. dollar. The U.S. dollar index has declined from a high of 1.2190 in 2001 to trade consistently below 0.7500 for most of this year. Now there is growing concern that sovereign governments, ever more squeamish about the erosion of their massive dollar holdings, could lighten their posi
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