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Politics : PRESIDENT GEORGE W. BUSH
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To: JakeStraw who wrote (472401)10/7/2003 4:03:15 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
That is the catch, isn't it?

The sick dollar is partially propped up by the absence of strong alternate stores of value.

But, that is changing. For the past two years, buying ECU and Yen has been a winner... while dollar bonds have lost foreigners big money.

Once China's currency becomes convertible (as they promised the WTO) then the pegs will be kicked out from under the dollar. China offers higher interest rates AND and 8% growth rate in national product.
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