Since central banks aren't letting their currencies appreciate against the dollar, that implies that all the currencies will depreciate against gold and commodities in general.
More Quotes from Paul Kasriel:
All the data suggest the labor market is improving -- perhaps not as fast everyone would hope and want, but it's better than deteriorating.Paul Kasriel
If the Fed pauses here, rates will come down, the house ATM machine will get filled up again, and we can all go back and do more refinancing. But if they keep going, like some people believe they will, then we will have a recession in the second half of 2005.
Paul Kasriel
The creation of credit by the Fed, just like the scrip printed by a counterfeiter, does not result in the increased supply of energy.
Paul Kasriel
There's nothing to suggest that payrolls are going to be particularly weak or strong. That's why the consensus estimate is so close to the average of the past six months.
Paul Kasriel
Fed policy-makers think their job now is to play a supporting role. They kind of want to drift into the background.
Paul Kasriel
He goes up to Congress, and they ask him questions about everything except monetary policy. It's unprecedented that a central banker is sort of viewed as an omniscient economic policy czar. It's not his responsibility.
Paul Kasriel
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Each day the world is born anew for him who takes it rightly.
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