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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Wyätt Gwyön who wrote (22937)12/6/2004 2:14:38 PM
From: Kailash  Read Replies (1) of 110194
 
"The criticism of President Bush's inaction, by a senior member of the ruling Liberal Democratic Party, will be taken as a veiled threat that Japan could start to sell off its multi-billion-dollar holdings of US Treasuries."

The journalists still don't get it -- it would be enough for Japan to moderate its pace of buying. The idea that the Europeans should join them in subsidizing the greenback, on the other hand, is madness -- it shows the Japanese still think the dollar can be managed by foreigners. The lesson is that as long as foreigners continue to take responsibility for the state of the dollar, the US administration will continue to take advantage of it.

K
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