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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Haim R. Branisteanu who wrote (233840)4/6/2003 8:02:36 PM
From: UnBelievable  Read Replies (1) of 436258
 
I Expect That In That Flurry Of Meetings That Busch Had With Greenspan

the week before the war the extent to which a weak dollar or US stock market could compromise national security was discussed.

In addition, recent FX changes included efforts on the part of the BOJ to prop up the dollar prior to the April 1 mark to market audits. The magnitude of these interventions was such that they clearly are unsustainable in anything but the shortest timeframes.

While in the short term the war may support the dollar a bit, I can't help but think that the US's willingness to act unilaterally, and against world opinion, will cause most if not all other central banks to reconsider their reliance on the dollar as a reserve currency.
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