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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (16554)9/7/2000 10:33:50 AM
From: Ken98  Read Replies (3) of 436258
 
More clownspeak:

<<NEW YORK, Sept 6 (Reuters) - Federal Reserve Bank of New York President William McDonough said on Wednesday that although the U.S. current account deficit was large, he saw little chance of a run on assets that could crush the dollar.

However McDonough said the U.S. current account gap was too big at 4.2 percent of gross domestic product, and the Fed's campaign of interest rate hikes over the past year was aimed partly at correcting that imbalance.

"If people lost confidence in the dollar, where would they go?" McDonough told a conference on globalization sponsored by the U.S. Foreign Policy Association.>>

Ummm, gold?
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