2
October
Bernanke: A new super-currency would weaken the dollar
2 October 2009 MarketWatch
Russia and China are advocating the creation of a new super currency, which Fed Chairman Ben Bernanke said Thursday would weaken the dollar if it were to be established.
"It would weaken the dollar, and we would have to watch for any inflationary consequences of that," Bernanke said during the question and answer segment of a House Financial Services Committee hearing. "I don't see that as a risk as long as we as a country take efforts to manage our risk and keep inflation low."
Bernanke added that the dollar is not at any immediate risk of losing its status as a reserve currency, however he acknowledged that if the U.S. doesn't put its "economic house in order," risk could eventually grow for the U.S. currency.
http://www.marketwatch.com/story/bernanke-a-new-super-currency-would-weaken-dollar-2009-10-01
