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10/05/09 Stockholm, Sweden Even with the US dollar's deterioration over the past six months, the G7 has decided to let it continue to fall. Forbes reports today that the G7 "abandons the dollar." This is despite problems, such as economic instability, that a weakening dollar can cause central bankers around the world. From the US perspective, there are some benefits associated with a weaker dollar, in terms of increased exports and the possibility of inflating away the massive debt the government is building up so quickly.

"Our current economic choice is not between capitalism and communism. It is between locally accountable Main Street markets and Wall Street central planning by predatory global financiers."

"The public bank concept is gaining ground on the state level, attracting proponents across the political spectrum. "

Can financial reforms straighten out one of America's most byzantine institutions, the Federal Reserve?