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Gold/Mining/Energy : A to Z Junior Mining Research Site
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To: 4figureau who wrote (2816)1/22/2003 9:55:22 AM
From: Jim Willie CB  Read Replies (1) of 5423
 
we each have different Russell takeaways... here is mine:

<"The declining dollar has to be striking fear in the hearts and pocketbooks of foreigners who are holding trillions in US assets. If foreigners start to sell heavily -- watch out!">

the TENS yield is largely unchanged since late summer
so Europeans have seen a 7% decline in USTNote holdings in this short time, with supposedly safe Treasury debt, which will never be defaulted on
right!!! never defaulted on!!! right
but plenty of writedowns coming as the dollar careens downhill

now add a little higher yield, which reduces principal value (from early foreign selling, from increased issuance supply, from anti-US war sentiment, from whatever) ....
and you get even greater bond losses for the European friends

now factor in how Europeans dont bathe often enough,
and their portfolios really stink

/ jim
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