Tuesday, November 23, 2004
Ohh...That "Strong Economy"
Dollar Falls, Yet Again. When the "first deputy chairman of the Russian central bank" sets off a dollar selling spree you know we're teetering on the brink of disaster. While the Russians only have about $60 billion of their foreign-exchange in dollars, the Japanese and Chinese have in excess of $100 trillion in dollars so if they started re-aligning their portfolios it could spell trouble for all of us. The only thing saving us is that it would be risky for the Chinese and Japanese to unload all their dollars without losing a lot of money in the process.
Dollar Falls, Yet Again. When the "first deputy chairman of the Russian central bank" sets off a dollar selling spree you know we're teetering on the brink of disaster. While the Russians only have about $60 billion of their foreign-exchange in dollars, the Japanese and Chinese have in excess of $100 trillion in dollars so if they started re-aligning their portfolios it could spell trouble for all of us. The only thing saving us is that it would be risky for the Chinese and Japanese to unload all their dollars without losing a lot of money in the process.