In the News: Bloomberg TV

Portfolio manager Axel Merk tells Bloomberg TV the Fed may be devaluing the dollar in an attempt to help the U.S. economy

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Portfolio manager Axel Merk on Blomberg TV: 'Bernanke says 'a weaker dollar is not inflationary.' We disagree with that. Bernanke has the mindset that you need to weaken the currency to get out of a depression, deflationary-type of environment (exactly the environment that Bernanke thinks we are in)…I believe that these actions that are being announced and, to an extent have already happened, are very much actively working on a weaker dollar in order to stimulate the exports growth.'

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'Fed officials [are] touting the quantitative easing program before [it has] been officially been decided; [this is] unprecedented in Fed history. Decisions are made by steamrolling the dissenting members. This is a Federal Reserve that is very much determined to go forward with quantitative easing. In our view, part of the goal is to devalue the dollar in the process,' portfolio manager Axel Merk explains.

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