i don't have a good one, but a lot of money retreats into sovereign parking lots in year end closings and lower activity during the forever holiday season, for example.
the neg rates on the t bills, for example, this week, it has been argued, are funds being parked... in which case, there was dollar buying on the trip to that short term paper. as the buying for that purpose begins to dry up, we'll see a resumption in the dollar down.
of course dollar weakness is killing the rest of the planet.. hence the threats by asia of currency controls, controls already in place in brasil, and outright money printing to buy up dollars by others to prop it up...
and of course.........
gold up in all currencies as it finally dawns on the planet, all of the currency is doomed as we watch the great race to debase competitively. with the exception of norway and australia, as contrary policy it would appear, so far.
canada has some serious thinking to do. but, their fed head is a goldman sachs guy, so perhaps it is a given, they will do the wrong thing. <ng> |
