The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: RockyBalboa who wrote (17254)	2/4/2009 8:48:14 AM
From: Real Man	1 Recommendation Read Replies (1) of 71456

Fun stuff - they been cutting for some time. Russia's current accout SURPLUS has been enormous for some time, so were GROWING reserves. Piss off the Russians game will be interesting to watch. -g- The downgrade is “unjustified,” said Jerome Booth, who helps manage about $32 billion in emerging-market holdings at Ashmore Group Plc in London, including Russian government and corporate debt. ‘Not an Issue’ “Russia’s capacity to pay is not an issue, and it is completely in their interest to remain current on their obligations,” he said. “Look at the country’s reserves; there is less of a chance of Russia defaulting than some of the countries in western Europe.” bloomberg.com Geez, who's that guy? Shouldn't SP cut US sovereign rating instead, with 7% current account deficit and 20 Trillion foreign obligations + huge budged deficits for years to come?

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