Saturday, November 17, 2007

Morning Cup O' ...Dregs!


According to Bloomberg: "The dollar fell..." (read: plummeted) "...the most since September against the currencies of its six biggest trading partners after Chinese officials signaled plans to diversify the nation's $1.43 trillion of foreign exchange reserves.

The dollar fell against all 16 of the most-active currencies, declining to the weakest versus the Canadian dollar since the end of a fixed exchange rate in 1950, a 26-year low against the pound and a 23-year low versus the Australian dollar...

..... China may `diversify out of dollar holdings.'......."

Hell, join the club. According to, that's exactly what Dick Cheney did in 2006, putting between $10m and $25m of his personal assets into The American Century International Bond, a fund whose "prospectus limits dollar exposure to 25% of assets" and has "only 6% of assets in dollars."

This strikes me as an ever so slightly unpatriotic thing to do, if you're the Vice President of our Nation.

Maybe just a little nihilistic.

Kinda-sorta like speeding through all the red lights in Capitol Hill in a hospital zone, blasting Wagner's Götterdämmerung out the gull-wing doors of your Krupp Panzer IV, while wearing a Sudanese blood-diamond tiara, eating a Cuban sandwich and ripping bootleg DVD's right from the warm and bloody entrails of our own fighting men and women in the armed services.

I read Cintra Wilson in our local Hartford Advocate. Her columns always inform and amuse, and I haven't heard much about this issue* in the MSM. As govt. operatives continue to ENRON the US treasury, they are also running the printing presses as fast as they can, in order to gut the boomers' savings.

*go read, very worthy snark


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