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


To: mishedlo who wrote (27956)3/7/2005 12:59:07 AM
From: regli  Read Replies (1) | Respond to of 110194
 
Mish,

As I wrote a few weeks back, the German Bundesbank made big news when it lost several billion as a result of dollar losses. Usually the Bundesbank makes profits which then can be spent as part of the German government's budget.

Looking at it in this light it is easy to understand why losses lead to budget cuts and therefore unpleasant consequences.