"The largest Asian central banks have gone on record that they are curbing their purchases of US debt. And they are also diversifying their huge reserves, steadily moving away from the dollar. The risks have simply become too many and too serious." —W. Joseph Stroupe,Editor, Global Events Oct 2008
A Signal from Asia
Started by
Islander
, Nov 03 2008 09:35 AM
1 reply to this topic
#1
Islander
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Posted 03 November 2008 - 09:35 AM
This is the signal that is of most concern: It will be difficult to sell more debt overseas, 50% of all Treasury debt is held by foreign central banks etc. This quote is just part of an increasing move away form USD. It is the start of gold, silver and foreign currency (read FXY?) switch. This move portends the second phase of the credit crunch - the inflationary phase superimposed on an asset deflation. Hello misery index.
Be Aware, Islander
"The largest Asian central banks have gone on record that they are curbing their purchases of US debt. And they are also diversifying their huge reserves, steadily moving away from the dollar. The risks have simply become too many and too serious." —W. Joseph Stroupe,Editor, Global Events Oct 2008
"The largest Asian central banks have gone on record that they are curbing their purchases of US debt. And they are also diversifying their huge reserves, steadily moving away from the dollar. The risks have simply become too many and too serious." —W. Joseph Stroupe,Editor, Global Events Oct 2008
#2
bullshort
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Posted 03 November 2008 - 12:40 PM
Why is that article dated November 25, 2004? It even has a 2004 copyright date at the bottom.
http://www.atimes.co...y/FK25Dj03.html
http://www.atimes.co...y/FK25Dj03.html
