Tuesday, October 13, 2009

Dollar Reaches Breaking Point as Banks Shift Reserves

Developing countries have likely sold about $30 billion for euros, yen and other currencies each month since March, according to strategists at Bank of America-Merrill Lynch.
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2 comments:

  1. yasminOctober 13, 2009 at 8:21 AM

    who believes anything THEY say

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  2. ananOctober 13, 2009 at 4:21 PM

    Yasmin, there is detailed info available about foreign reserves from many central banks.

    Personally, I think the dollar weakens long term . . . the money supply increased by 80% after Lehman callapsed in 2008 to prevent a complete global meltdown. It has never happened since 1787. Even the civil war 1860s monetary expansion wasn't as large and dramatic.

    Surging the money supply isn't good for the dollar long term.

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