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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Claude Cormier who wrote (50484)1/20/2006 6:14:36 PM
From: mishedlo  Read Replies (1) of 110194
 
The decision to price in Euros would only come from a decision not to hold dollars. They can not hold dollars now if they do not want to. OTOH, just because they priced in Euros does not me they can not or will not hold dollar reserves.

Thus where they hold there reserves is the important factor, what it is priced in is of little practical relevance.

One has to be really silly to think we would go to war over a pricing unit. If countries do not want to hold US$ they will not hold them regardless of what something is priced in.

If they do want to hold US$ reserves then they will do so regardless of what something is priced in.

Yes if they price in Euros they probably want to hold less dollar reserves but the decision to hold less dollar reserves is the key and not the pricing unit. The pricing unit is irrelevant outside of Yap Island stones.

Mish
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