Log in

View Full Version : Dollar loses reserve status to yen & euro


COTW
October 14th, 2009, 12:33 PM
From the New York Post:

...
Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves, according to Barclays Capital.
...
Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund (http://www.nypost.com/t/International_Monetary_Fund).
...
HERE (http://www.nypost.com/p/news/business/dollar_loses_reserve_status_to_yen_hFyfwvpBW1YYLykSJwTTEL%3Bjsessionid%3D65E301CF47ED50D15170F8D6530791C5)

This should get the ball rolling.

Joe_J.
October 14th, 2009, 09:21 PM
Oh, it will get the ball rolling, all right.

Dollar is facing new lows. I think it is approaching 75 on the USD Index. Also, oil is up and that is going to slam the average Joe in the wallet when he goes to fill up his tank. Also, understand that a lot of the refineries had gone into low production and/or shutdown due to the economic picture overall.

There are more consequences.

The game is up. The jew smoke and mirrors emanating from the Kwa has run its course and the rest of the world has had it.