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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (17486)12/2/2004 8:08:40 PM
From: RealMuLan  Read Replies (1) of 116555
 
The passing of the buck?
Dec 2nd 2004
From The Economist print edition

America's policies are putting at risk the dollar's role as the world's dominant international currency

FORECASTING exchange rates is an inexact business. As Alan Greenspan, the chairman of America's Federal Reserve, once said, the activity “has a success rate no better than that of forecasting the outcome of a coin toss.” Recent years have borne this out: most currency forecasters would actually have done better if they had simply tossed a coin—at least they would have been half right. Yet over the next few years it seems an excellent bet that there will be a large drop in the dollar.
economist.com
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