Posted on 10/12/2009 10:00:35 AM PDT by FromLori
Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen.
Policy makers boosted foreign currency holdings by $413 billion last quarter, the most since at least 2003, to $7.3 trillion, according to data compiled by Bloomberg. Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show.
This doesn't put the same pressure on the dollar as panic selling out of the dollar, but it is not a positive.
The big question is how will Treasury find funding for the huge money raises in the future, if there is not substantial buying by foreigners?
is anyone else seeing certain words being underlined twice? links?
RIP Dollar
The way I see it, the primary reason for the switch away from the dollar to other currencies, as a reserve, can be directly attributed to our dollar’s bland and “ordinary” color scheme.
If we could add some bright, vibrant colors to our dollars I’m absolutely certain that it would regain it’s title of the undisputed worldwide reserve currency for many years to come.
Is there a Nobel category for economics?
They have been making it colorful resembles the peso if you think about the new bills (amero)? yes there is a nobel for economics.
http://www.economicpolicyjournal.com/2009/10/two-americans-share-nobel-prize-in.html
I was actually being silly with the color scheme change and also being silly for thinking the color change could earn me the Nobel for economics.
I get pretty silly when the news is this depressing.
I should be medicated.
No lol you should laugh!
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