11/22/10 - Robert Prechter Explains The Fed, Part II
This is Part II of our three-part series "Robert Prechter Explains The Fed." You can read Part I here — and come back later this week for Part III. "Let's attempt to define what gives the dollar objective value. As we will see in the next section, the dollar is 'backed' primarily by government bonds, which are promises to pay dollars. So today, the dollar is a promise backed by a promise..." Read more.
