You are here
U.S. government has only itself to blame for dollar strength, Bundesbank chief says
By Andreas Framke and Frank Siebelt
Tuesday, February 7, 2017
MAINZ, Germany -- The U.S. administration should blame itself rather than Germany for a recent strengthening of the dollar against the euro, the head of Germany's Bundesbank said on Tuesday.
Jens Weidmann said comments by a top trade adviser of U.S. President Donald Trump that Germany was exploiting the United States and its European partners with an overly weak euro were "more than absurd."
"The thesis that foreign currency manipulations are to blame for the current strong U.S. dollar is not borne out by facts," he told a gathering in this western German city.
"The most recent rise in the dollar is likely to be homemade, triggered by the political announcements of the new government," he said.
Separately, in an interview with Redaktionsnetzwerk Deutschland media group, Weidmann said there was no point in starting a currency war.
"If politicians erect trade barriers or start a currency depreciation race, there are only losers in the end," he told RND, in comments due to be published Wednesday. ...
... For the remainder of the report:
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:
Join GATA here:
Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
For a 10% percent discount, use the discount code "GATA"
Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: