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I am amazed each time I read something like "the safety of the greenback".
Uh?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Wed Feb 10th, 2010 at 04:02:05 AM EST
[ Parent ]
For US investors, naturally.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Wed Feb 10th, 2010 at 04:22:58 AM EST
[ Parent ]
That's what they think.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Feb 10th, 2010 at 05:27:03 AM EST
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And that's why the US$ is up: for no other reason than US-based investors are divesting from foreign-denominated assets, for no other reason than they believe US treasuries are a safe haven.

What baffles me is that we can have most of the finance ministers of the EU with their pants in twist over the conventional wisdom of US-based investors.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Wed Feb 10th, 2010 at 08:46:56 AM EST
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