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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (3228)	12/11/2003 6:37:24 PM
From: russwinter	Read Replies (1) of 110194

<they do not care if it falls.. If they seek a dollar freefall, then the policy will severely backfire (cause foreign capital flight, already starting to happen, except for the CBs). I listened to John Snow yesterday on CNBC, and heard absolutely nothing to suggest they want a uniformly weak dollar. The do want a "somewhat?" free trading dollar against the Yuan (a version of your #3), and perhaps slowly against the Yen (so that they can perpetuate the BOJ recycling Ponzi scheme as long as possible), but that's not quite the same as a collapse. They apparently think these currency adjustments can be done gradually, but the proof is in the pudding. My point: $ one trillion plus annual twin deficits will make "gradual" impossible with a 1-2% (or 1 1/2% as you apparently think?) fed funds rate.

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