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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: regli who wrote (50770)5/8/2006 3:12:31 PM
From: Tommaso  Read Replies (2) of 116555
 
>>>I wouldn't be surprised if the U.S. were increasing its foreign exchange reserves at this time for just such an event. <<,

I guess I would be surprised, because it is impossible. The only way to acquire reserves is through a favorable trade balance, and the U. S. is wildly out of balance. We could sell gold, but that would not go very far. Actually, the U. S. is in the process of going bankrupt. I don't think that 25% short term interest rates can stop it this time.
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