The dollar looks awfully like sterling after the First World War," said David Bloom, the bank's currency chief.
"The whole picture of risk-reward for emerging market currencies has changed. It is not so much that they have risen to our standards, it is that we have fallen to theirs. It used to be that sovereign risk was mainly an emerging market issue but the events of the last year have shown that this is no longer the case. Look at the UK – debt is racing up to 100pc of GDP," he said
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Recent data has shown that the appetite for the US$ is never ending. It is a fact that since many countries around the world (especially China) hold $ reserves, they will keep buying it to keep its value steady. China has the biggest $ reserve and it is so big they can't get rid of it so they have no choice but to keep buying. China and other countries has launched the debate to replace the $ as the trading currency and we all know its not going to happen and the US knows it as well which is why they keep printing it.
ReplyDeleteThe other important point to note about the US$ is that it is still perceived to be a safe haven for investors in times of trouble. Just look at last night when the stock market fell, what happened to the $? its value increased.
I would not worry about the $ and would certainly not worry about inflation affecting it as so far (many will not agree with me)the fed has it under control and I trust they will pull the plug at the right time to prevent inflation.
Most of us who visit this blog know this about the dollar/economy, yet most people, or SHEEPLE, think everything is going great... And Ben Benarke announces the recession is over.
ReplyDeleteDoes anybody really know what time it is?
5:23, are you serious? wow!
ReplyDeleteBAAAAA, sheeple can't see the numbers any how because ben and boys have pulled the wool over their eyes. Listen to Gerald Celente. This is not a recovery it's a cover up.
ReplyDelete5:23 The Federal Reserve is buying their own dollars. You're not that out of touch of reality, are you? China has offered to buy ALL of the IMF's Gold that is for sale in order to get rid of their useless fiat paper..They keep printing it because they actually believe it will help the economy AND to devalue the dollar.
ReplyDeleteok, whatever just pay your bills and do the right thing and get us out of this, dont just cause anarchy and detors revolt, just find a job already and start paying the balances off.DONT SPEND ANYMORE< JUST KEEP SAVING>
ReplyDelete7:33 I disagree with you, China has increased further its $ reserve and Gold is way too expensive right now for China and believe me the day China starts selling its $ the whole world will know and it will crash the market.
ReplyDeleteGold too expensive for China...LOL...yeah they should buy more paper promises, that's the ticket...
ReplyDeleteChina just finished buying Icelandic króna's, and now they are buying up Zimbabwe dollars. Then it's on to the US dollar.
ReplyDeleteYup, never mind gold and silver.
So much ignorance, so little time to do anything about it. 10:30-China has been buying massive amounts of gold and encouraging their citizens to invest in it. They have been buying commodities, spending their U.S. dollars to get rid of them. The Fed has had trouble selling U.S. Treasuries lately, and have started to buy them themselves. (It's like bidding on your own products on eBay to make it look more valuable, but when you win the bid you not only don't make any money, you have to pay fees to eBay.) It's mainstream news, yet people are still too ignorant to care.
ReplyDeleteRight on the money 9:31---How blind are people not to read the world news from more than one agenda driven source---Wow!!!
ReplyDelete