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

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To: Haim R. Branisteanu who wrote (7303)	2/8/2004 9:53:04 AM
From: mishedlo	Read Replies (3) of 110194

The head of a leading German think tank, Ifo, said on Saturday the European Central Bank should intervene in foreign exchange markets to prop up the weakening dollar. "If the dollar continues to weaken, the ECB must sell euros for dollars," economist Hans-Werner Sinn, head of the Munich-based Ifo research institute, told Der Spiegel news magazine. He said the ECB shouldn't be overly cautious. A central bank that wants to devalue (a currency) can on its own certainly have an impact on the market forces," he said. He said that studies have found that the ECB would have to sell $30 billion to cause a lasting 10-cent decline of the dollar. He said the other way to counter the euro's weakness -- lowering interest rates -- was not advisable because the economy in the euro zone was about to recover and likely to see higher interest rates in the medium-term. =========================================================== This is really too funny. So in contrast to everyone's worry about foreign governments bailing on US treasuries and the US$. Aparently they can not get enough of either of them. LMAO biz.yahoo.com

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