Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: Haim R. Branisteanu	10/25/2008 12:55:00 PM
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A new result form the credit crisis fall out is that the Gulf States in the ME are moving fast to establish a common currency. This with the recent Beijing summit of EU and Asian leader will remove the primacy of the USD as a worldwide reserve currency and change the game in FX markets and possible flow of funds around the world. The Bretton Woods accords will take a new meaning - the USD will need to depreciate v. the world currencies Time to close long USD positions and wait for developments

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