China dollar dump?

Free Market News Network
by Anthony Wile

12/18/06

1) The Federal Reserve Bank ceased publishing 'M3' data in March, making it nearly impossible for anyone to know how much cash is being printed. China said this act made it impossible to tell how much a Dollar is worth. 2) The U.S. dollar has lost upwards of thirty percent (30%) of its value against other foreign currencies in the recent past, meaning China has lost almost $300 billion simply by holding U.S. dollars in its reserves. 3) The U.S. has no plans whatsoever to reduce deficit spending or ability pay down any of its existing debt without printing money to pay it off. Again, the article: 'For these reasons China has decided to implement an aggressive sell-off of U.S. dollars before the rest of the world does so'...

//www.fmnn.com/Analysis/134/6593/high.asp?nid=6593&wid=134


Informant: Thomas L. Knapp

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