First buzzed by: anonymous
Yeah . . That Dollar is really shaping up . . . It has been on a decline for months and is worth about .67 cents against the euro. It has stopped selling off for two days over a 9 month losing streak and we call that strengthening. Our economic direction based Baracks fiscal policies of tax and punish will keep it low.
Never thought one day we would be happy with $80 per barrel. The U.S. dollar will not going to fall, since the Chinese govt owns most of it.
CONT
About the Chinese, well... if you've been keeping up with the world economy, you then would know that the Chinese are holding more than 1 trillion (yes, TRILLION) US dollars in forms of US Treasury bonds and securities. They have more at stake than ever with the amount of money they are holding in reserve as US dollar. The US is begging China to buy more bonds and securities to finance part of our budget at the amount of 2 trillion dollars plus. It's a big loss for them if the dollar keep falling in value.
Read the following Washington Post article to educate yourself on the subject matter:
http://www.washingtonpost.com/wp-dyn/con
tent/article/2009/03/13/AR2009031300703.html
“They really saw you all coming when they called this the Buzz.Ya'll sound like a bunch of Drug …”
The Web's most remarkable stories, determined by people like you. Stories are ranked based on your votes, comments, emails, and searches. » More
Are we missing anything? You can add any page on the Web to Yahoo! Buzz.
