The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: No Mo Mo who wrote (35255)	2/16/2011 3:48:14 PM
From: Real Man	2 Recommendations Read Replies (2) of 71463

Chart from Pimco. pimco.com "As I pointed out in a recent Barron’s Roundtable in early January, a “haircut” is a euphemism for government default. A bondholder can receive a “buzz” the old-fashioned way by principal default, but that rather visible and embarrassing option is usually reserved for countries like Greece, which cannot devalue its currency. The second and more surreptitious policy maneuver of currency devaluation raises import prices and lowers a country’s standard of living while allowing politicians to hold up their heads higher than countries that simply say – “Hell no, we won’t pay.”"

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