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Battening down the hatches?
Looks like they are trying to make the Euro the new world reserve currency starting on Jan. 1, 2011. I guess they see the dollar collapsing sometime this year. WHOOOPPPEEE!!!:))
I believe you may be correct on that assessment. By saying that they won't accept non-euro denominated collateral, is essentially saying the dollar assets are bad and will continue to get bad/collapse. You may say what about the yen or yuan or whatever. Those currencies believe it or not rely on the dollar and are tied to them, so if you decided to take yen collateral it may be (no in fact it will be) leveraged to the dollar somehow either through other assets or derivatives. So if the dollar collapses, it could take that Yen asset with it and you end up with assets from Japan that aren't worth anything.
This is amazing and very quite in the other news agencies. Someone must know something about the future of the world economy and are slowly and quietly tryign to move and position for the calamity.
No matter. As long as the FED buys stocks and never sells them, we'll continue to go up on low volume forever.
I don't see why Greece doesn't dollarize their economy. Our interest rates are basically zero and needless to say "they're not going up ever." Sure your stuck with the likes of Lebanon and El Salvador--but is the IMF really an option? I think it was the Koreans in 1998 who coined the phrase "I Am F*****" as what the IMF really stood for.
Why everyone thinks the Fed is melting up the market
When people (the market) are basically forced to buy something.
The market will continue to go up as long as the money is floating like crazy.
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