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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: sandeep who wrote (104281)5/23/2001 3:57:23 PM
From: Real Man  Read Replies (1) of 436258
 
The bailouts were very painful for those who did not know and held puts. Ask Luc
-ggg-. They were bailouts for put writers and banksters who were going under. They have done it 3 times already - NOT a free market. And now this - biz.yahoo.com . Printing 2 billion per week since
Mid-March sure helped the markets - and gold. But I don't see how it helps the dollar. The size of dollar reserves held by the Central banks in the world sure surpass the size of gold reserves. What is not gold is (mostly) dollars. Now, why is everyone talking about CB selling gold reserves? If they just switch, or gold becomes stronger, they might sell the dollar.

I believe the total CB dollar reserves are in the vicinity of 1Trln. + the Japanese hold 45% of US T-bonds. Compare that with "only" around $1.5bln per week that the Fed printed to support the market since mid-March. An insignificant shift of these reserves into the Euro will destroy the dollar. That's why the Euro gets destroyed...
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