Asian Development Bank sounds alarm on dollar

Asian countries need to prepare for a possible sharp fall in the dollar and should allow their currencies to appreciate collectively if that happens, a senior Asian Development Bank official said Tuesday.

"Any shock hitting the U.S. economy or the global market may change investors' perceptions, given the existing global current account imbalance," Masahiro Kawai, the bank's head of regional economic integration, said at a news conference.

"Our suggestion to Asian countries is, don't take this continuous financing of the U.S. current account deficit as given. If something happens, then East Asian economies have to be prepared."

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From Bloomberg: Buy Australian Dollar, Sell U.S., N.Z. Currencies, Goldman Says

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According to Axis of Logic:
Three separate sources in the U.S. Treasury have told me that this week, the federal reserve ordered TWO TRILLION dollars to be printed! The U.S. Treasury is allegedly running printing presses 24/7 to accommodate that order. Treasury employees were specifically ORDERED not to talk about this to anyone because it could cause economic collapse.

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AND, the Federal Reserve discontinued publishing the M3 money supply numbers on March 23. This aggregate reflects Euro positions, cash repurchases, and dollar infusions (read: what's being printed), among other things...timing's just right to hide how "well" the economy is doing.

Write your Congressional representative and ask him/her to support Rep. Ron Paul on H. R. 4892, the Sunshine in Monetary Policy Act, which will force the Fed to keep publishing the M3 numbers.