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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (80580)	7/16/2008 11:50:32 PM
From: Real Man	Read Replies (1) \| Respond to of 94695

Bush, Hank, Ben: "Strong dollar policy" Blah blah blah - all the time. That, and "Fannie and Freddie are strong". Geez. This stuff usually happens right before stuff hits da fan. That, and extreme market management while stuff is flying toward da fan. Always the same. In other countries CBs reassure of ample reserves and defend the currency until they run out. And then they run out and the currency falls. Kinda simpler this way. <G> There was a talk of manipulation by Hank, but who knows what they are doing, cause the Fed has no foreign currency reserves to defend the buck against the run. Probably swaps with ECB. The credit crisis has spread to Fannie and Freddie, so even without a bailout there are a lot of foreign agency debt holders. With a bailout it's an effective downgrade of US credit rating. Both are fundamentally very bearish for USD. But no clue. Maybe foreigners will keep buying cause they have no choice - USD currency drop will crash their economies. However, this smells like both Hank and Ben are very scared of the dollar run, and it's a horrible stink.