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“Goldman Sachs Group Inc. raised on March 19 the target on its bet against the dollar to $1.40 per euro, and Citigroup Inc. recommended on the same day that its clients buy the euro versus the dollar.”
By no means assume that the reaction to the Fed’s quantitative-easing announcement has run its course. Fed purchases of Treasuries are likely to be quite problematic for the U.S. dollar, particularly given large foreign holdings of Treasuries and the loss of yield support for the dollar that Fed purchases have caused.
This is a storm whose clouds we all can see over the horizon. And everyone knew, except of course for those of us living life and trying to get by the best we can. And now here we are two years into a largely ignored recession, now turned into a depression, and our dollar is dying on top of that. This is no Great Depression; this is a Great Decline, and a steep one. We will NOT crawl out of this for generations to come and we will be relegated to "Developing Country" status, and soon thereafter, Undeveloped. FYI read.
By no means assume that the reaction to the Fed’s quantitative-easing announcement has run its course. Fed purchases of Treasuries are likely to be quite problematic for the U.S. dollar, particularly given large foreign holdings of Treasuries and the loss of yield support for the dollar that Fed purchases have caused.
This is a storm whose clouds we all can see over the horizon. And everyone knew, except of course for those of us living life and trying to get by the best we can. And now here we are two years into a largely ignored recession, now turned into a depression, and our dollar is dying on top of that. This is no Great Depression; this is a Great Decline, and a steep one. We will NOT crawl out of this for generations to come and we will be relegated to "Developing Country" status, and soon thereafter, Undeveloped. FYI read.
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