The Dollar in Danger

Much of the worried talk about our currency sounds like hyperbole. But what if it isn't?

Reuters

Since March, the dollar has lost about 15% of its value against the world's other major currencies. That's a dull way to put it, though, so you're more likely to read or hear that the greenback is "wobbling," "slumping," "plunging" or even "collapsing." Marc Faber, a Hong Kong-based investment guru with a flair for the dramatic, went so far as to declare in a TV interview a few weeks ago that the U.S. currency was on its way "to a value of exactly zero."

Those are strong words for what, going strictly by the numbers, has been nothing more than a...

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