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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: redfish who wrote (23703)	2/16/2005 1:35:56 PM
From: TH	Read Replies (1) \| Respond to of 116555

rf, Precisely the word I was thinking while listening to the recap on the radio. I find it amazing that people actually believe anything this guy says. It confounds and astounds me. My dream job used to be a weatherman, but Fed Chairman is a close second. GT TH

To: redfish who wrote (23703)	2/16/2005 1:46:40 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Greenspan: foreign central banks not shedding dollars Wednesday, February 16, 2005 5:34:27 PM afxpress.com WASHINGTON (AFX) -- Contrary to some banner headlines last month, foreign central banks are not selling their dollar assets in favor of the euro, said Federal Reserve chief Alan Greenspan. "The notion that there was a significant move towards selling of U.S. dollar instruments by foreign central banks - that actually was not accurate. The extent of holding remain very heavy for dollars," Greenspan said. A survey last month sponsored by the Royal Bank of Scotland Group Plc caused a splash in foreign exchange markets when it showed central banks are reducing their holdings of dollars in favor of the euro. Greenspan said there was a "very small" decline in dollar holdings, but said it was a function of the decline in the dollar's value