Bashing the Federal Reserve and the Sinking Dollar

From an interview with Press TV:

James Bovard, policy advisor for The Future of Freedom Foundation says the U.S. currency “has lost 90 percent of its value” since the early 1900s when the Federal Reserve was created.

It is understandable that foreign nations are now “leery” of the dollar and are shifting away from the U.S. currency in international trade, he told Press TV’s U.S. Desk on Tuesday.

Bovard said the dollar’s lead in the world trade has given U.S. politicians “far more power over Americans as well as far more opportunity to intervene abroad.” But experts say there are big changes on the horizon, with the dollar losing its status as a credible currency.

At present, more than 60 percent of all foreign currency reserves in the world are in U.S. dollars.

Here’s the audio of the monologue. james-bovard-final-21 If I had known they were going to call, I would have drank coffee first and sounded… uh… perkier.

Of course, none of my criticisms of the dollar should be taken as a tacit endorsement of the Euro.