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Politics : Welcome to Slider's Dugout
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From: Jamey12/10/2006 1:23:16 AM
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"Treasury Secretary Henry Paulson and the Chairman of the Fed, Ben Bernanke, may not want to talk about it on December 15th and 16th in Beijing, but the Fed, the Treasury and the Chinese all know that the dollar has held its value on world markets because compared to the euro, yen or yuan, America has the highest interest rates. Carry traders borrow yen at ½% interest and invest in foreign assets, most of which goes into US markets creating artificial financial demand. While these two elements have helped keep the party going the US has turned a blind eye to the manipulation of currencies by those countries that export to the US. The artificially low interest rates, causes excess consumption. The artificially low currency values rob America of its factories and jobs. Both the US and foreign nations have knowingly set the stage for a dollar collapse that will cost foreigners 50% of their buying power. These problems are just over the horizon so any of you who are long in the stock market had best consider cashing out. (cont)

theinternationalforecaster.com
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