Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: sea_urchin who wrote (19451)	10/26/2003 6:51:42 AM
From: mcg404	Read Replies (1) of 82047

Searle, <SA is hardly a purchaser of US debt. If anything, the demand is for non-dollar denominated debt, like SA Treasuries.> I'm not sure it matters as long as the rest of the world is doing it. At least in terms of the rand being strong. When we say strong are we not saying 'with respect to the USD'? (I know not entirely but in large part.) <There are "rules" to investment such as earnings growth, dividend yield and underlying tangible assets and I believe, perhaps naively, that one should still look for investments on this basis rather than merely follow the one who shouts the loudest and causes the most panic...> I agree, I think. But only if we add 2 qualifiers: 'in the long term' and 'in a stable monetary, currency situation'. Because short term, and when disturbed by speculative money flows (created by excess liquidity?), any investment can have unstable price inflation w/o supporting fundamentals (ie, a house of cards). <gold looks very strong at the moment> Yes, stubbornly so! Merely following the currrent, speculative price inflation of the general markets? Or beginning to reflect its true value relative to all those new USDs... research.stlouisfed.org John

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