Posted on 04/28/2011 8:03:50 AM PDT by Rich21IE
Dollar Loses More Ground. NEW YORKThe dollar dropped after economic indicators pointed to a dismal employment picture and slowing economic growth. The dollar has been hammered recently, losing out on interest-rate differentials and regularly hitting multiyear lows against other major currencies. Losses were especially bad Wednesday after Federal Reserve Chairman Ben Bernanke indicated the central bank is far from tightening monetary policy as economic growth remains slow and unemployment remains high.
(Excerpt) Read more at online.wsj.com ...
Back in ‘92 or ‘93 Mexico was around 1500 pesos/dollar.
They took two zeros off their money and issued nuevo pesos.
Wonder if we are heading in that direction.
Let me know if I am heading down the wrong bunny trail here.
So, China has stated they want to cut down on their US debt holdings, so they won’t be buying. Japan needs to cash some of their holdings, so they won’t be buying. Last I heard the Fed was buying 70% of the offering of US treasuries. Will that now go to 90%? Basically just stuffing our pockets with IOU’s to ourselves? THAT will end well....
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