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To: Real Man who wrote (399935)	1/22/2010 2:43:56 PM
From: gregor_us	1 Recommendation Read Replies (1) \| Respond to of 436258

Oh we get the currency crisis either way. There may be some differences in magnitude, depending on which way. But we get it either way. Maybe austerity and cleaning up the mess and liquidation is the difference between the USDX going to 40--or to zero. I'm not sure. But I am sure that the clean-up plan means a chosen 36-48 months where there will be no reason in the world to invest in US assets. And, expose the fact that we don't even have the cash flow to back the assets we already floated--USTreasuries. Volkerism of the 1980's variety is not even an option available to us. We could have Paul make every decision, but the fundies are so different. I guess what's scary is that by comparison, Volker's last clean-up operation actually had a light at the end of a fairly short tunnel. Our tunnel is long. G