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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (24054)	1/4/2005 7:12:15 PM
From: gregor_us	Read Replies (2) \| Respond to of 110194

Yes This is Good Cop/Bad Cop Elevated to Choreography. So now it appears the market will see this eventually for what it is: more of the tightly managed devaluation of the USD. Washington does not want headlines about the Dollar. But it does want a fourth down year, and as I said earlier, at least to the low 70.00's on the USDX. The off-ramp to 80.00 was getting a bit crowded there at the end of 2004. The inflation language therefore kills several birds with one stone. But they must be careful in their periodic checks of the USD's decline, to not arrest it. So today's Minutes stand as a nice BookEnd to the shocking Greenspan comments in Germany, in November. The plan is to hit the USD hard with brass knuckles now and then, but to offer it a little water, as they did today. Best, LP