Financial Briefs

Breaking financial news from Wall Street to Main Street

Stars look aligned for gold

Posted by financialbriefs on September 25, 2008

The U.S. government’s proposed US$700-billion bailout plan would boost the nation’s debt ceiling by 6.6% to US$11.315-trillion and is putting pressure on the greenback as a result.

“As we get to the other side of this, the dollar will get crushed,” John Taylor, chairman of New York-based International Foreign Exchange Concepts, the world’s biggest currency hedge-fund firm, told Australia’s The Age newspaper.

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