Via Long and Short.

And you know it hurts my feelings, if nothing else, that the Swiss franc is worth more than the dollar.
-Paul Volcker in an interview this week with Charlie Rose

Yes the famous Paul Volcker who brought stability back to crazy America. Volcker was in office from 1977 to 1987, and to be fair let’s see how well he did against the Swiss Franc.

When he came into office the Swiss Franc to USD was between 2.40 to 1.70. And when he left office the Swiss France to USD was 1.4912. In other words Paul, you killed the USD just as much as Bernanke is killing the dollar. Sure the “magic” 1 has been crossed via Bernanke’s tenure, but how is that different from what you did? Sure the USD went up to 2.45 during your tenure, but it still dropped down to 1.4912!

Paul Volcker are you not doing historical revisionism by saying that it hurts your feelings that the Swiss Franc is worth more than the dollar? I could just as easily say, “Hey Paul during your tenure it hurt me that I can’t get 2 dollars to the Swiss Franc.”