Bernanke Dares The World

``With QE2 Bernanke is essentially daring the world to get off the dollar. He has adopted this tact because he knows, or thinks he knows, that the world is not ready to abandon the dollar. For the time being Mr. Bernanke is probably right. This said, it would be naive to conclude that the Fed is undertaking money printing because it believes that lower interest rates and rising stock prices will be the only result. Rather, the Fed’s unspoken goal with QE2 is to devalue the dollar, or as James Grant put it, “the economy is not measuring up, and the Fed is going to change the ruler”.''