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Fed announcement caused largest dollar plunge in over 20 years.


CofCC.org News Team

Following yesterday’s afternoon announcement that the Federal Reserve planned to print $1 Trillion in magic money to pump into banks and buy securities. The value of the dollar had been rising rapidly for weeks. Now much of the recent gains have been wiped out. Experts say the dollar will continue to fall.

The announcement triggered the largest one day plunge in the value of the US dollar since 1985, and the “mainstream” media is relatively silent. The news is being widely reported in the foreign media, but ignored by US outlets who seek to protect Obama.

FOREX reported that yesterday’s plunge of the trade weighted “dollar index” was the largest since 1985. Bloomberg, however, called it the largest one day plunge since 1971.

The Euro is currently trading at $1.37, after hitting $1.26 March 4th.
The Mexican Peso is at $.072, after hitting $.065 March 2nd.
The Canadian Dollar is at $.82, after hitting $.765 March 9th.