Re: How China is Dumping the Dollar
- From: "nemo_outis" <abc@xxxxxxx>
- Date: 29 Nov 2007 20:31:30 GMT
"travisgod@xxxxxxxxxxxxxxx" <travisgod@xxxxxxx> wrote in
news:4dc32677-a54b-4cf6-ac81-1fc709ae2744@xxxxxxxxxxxxxxxxxxxxxxxxxxxx:
Oh, and you still don't have my approval; you're going to have to do
far better than this offering.
Contrary to your estimation of your own importance, the US dollar will
tunnel itself into the ground with or without your approval. Nearly 6
trillion of US debt held abroad that folks wish to dump as quickly as
possible. As quickly as possible without starting a stampede for the
exits, that is.
A textbook example of Gresham's law as everyone passes the bad penny. To
Europeans, Arabs, or whomever. And the Chinese collateralization ploy I
described is just one of the mechanisms of dumping that toxic waste, the US
dollar.
So they may not be running to the exits, but they sure are walking briskly.
Regards,
.
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