mr. zoellick said. i believe he said there's no immediate risk to the dollar.t's a relatively long-term issue. i also agree with him though that if we don't get our macrohouse in order, that we'll put the dollar in danger and the most critical element is long term. >> let's ask joe what this all means. what is a trade off the back of this? >> i think the trade is the secular trend in the dollar will remain down. if there was a viable option for the rest of the world right now other than the dollar, then that would right now be the reserve currency. there is not. >> okay. so how do you trade that, joe? >> i think you still play for further dollar weakness in the marketplace. i think that the dollar today, there is a little bit of a bid to it right now, but it is not as much as i would have thought it would be. >> brian kelly, i listened to that sound bite and that makes me think perhaps bernanke, the federal reserve, could take a roll in being supportive of the u.s. dollar. what's your take? >> i think that's probably a good observation. the dollar at this point

mr. zoellick asked, quote, will the united states resolve its debt problems without a resort to inflation? can america establish long-term displen over spending and budget deficit? i would note that mr. bernanke, i heard you say before that you are very concerned about inflation. you are not willing to inflation, i drive great comfort from your statement saying that. but i do think his comments are very serious questions that he's asking. and i think that congress just needs to act or address our nation's long-term budget deficit. that's why i joined with my colleague paul holtz, a democrat, i was one of 7 joining with 21 democrats, a letter that stressed our concern about the lack of t.a.r.p. transparency and the billions of tax dollars that will remain at risk under the program because we believe that no more funds should be used for the bank bailouts. i want -- i'd like to get your comments on mr. zoellick's commence and the fact that this isn't the first time. i think last week the u.n. came out calling for a new international currency replacing the dollar. china has, brazil has, sout

mr. zoellick said the real danger is complacency. mr. zoellick told this channel that banks will increase lending. >> we started this crisis in a good position. we are very well capitalized. and so we've been able to expand some offous basic lending by about three fold. but one of the issues we're going to face, i think over the next few months we'll do more, we'll probably to more lending. >> and we'll speak to the president of the imf, as well. so it's worth watching out for that one, too. the so-called stress tests that show that the eu have enough capital to handle a severe macroeconomic deterioration. banking supervisors said that the banks, which represent 60% of eu banking assets could survive 400 billion euros in losses this year. no further details were provided. >> more worries about dwindling appetite for ipo shares today after glorious property plunged 18% in their first day in hong kong. the chinese property developer raised $1.3 billion this year. analysts say that the firm has to selling point. glorious property's performan