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To: NOW who wrote (275477)1/28/2004 4:28:03 PM
From: Earlie  Read Replies (1) | Respond to of 436258
 
TE:

Good advice with respect to the specific item, but not good advice with respect to what that item is pointing to. Global players are starting to desire and seek out alternatives to the clown buck and toilet tissue treasuries.

As an aside, might the Fed's slight change of language be an attempt to provide a bit of guidance with respect to the inevitable? How long can the Fed maintain low rates as the buck gets chopped into mince meat? Not to state the obvious, but I suspect the fed abhors the very idea of a rate increase (knowing as it does that this would gut the market and the real estate bubble). On the other hand, a global "run" on the buck isn't the stuff of which sweet dreams are made for central bankers, and the rock/hard place is ratcheting ever tighter for Greenspan and company. Not that I see this as anything other than "self-inflicted pain", but unfortunately we are all going to pay the price for his insane policies.

Best, Earlie