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Strategies & Market Trends : The coming US dollar crisis
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To: DebtBomb who wrote (5473)3/25/2008 11:25:59 AM
From: stan_hughes  Read Replies (1) of 71408
 
Because this time, the crisis (i.e. the unwinding of the systemic overleveraging of credit) is a global banking disease and is not confined to the US -- if a derivatives implosion leads to the US banking system requiring a government bailout (read massive dilutive USD printing), you can bet that the UK and EuroZone banks would also be toast by then too

Thanks to globalization, we are all too interconnected now, so I envision that in the big meltdown, goodbye USD means goodbye Sterling and goodbye Euro as well -- as for the other CBs, I can picture Bernanke, King and Trichet all sitting in a lifeboat together, where King says to Bernanke, "Say, that's a nasty leak you have there, Ben. Glad it's not in my end of the boat....."
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