via NYT
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Source:
Dollar Shift: Chinese Pockets Filled as Americans’ Emptied
MARK LANDLER
NYT, December 26, 2008
http://www.nytimes.com/2008/12/26/world/asia/26addiction.html
Every day I get up and look through the Forbes list of the richest people in America. If I'm not there, I go to work. ~Robert Orben
According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week's record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May '08 and net longs in the Canadian$ rose to the highest since Nov '07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to...
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December 26th, 2008 at 2:30 pm
The graphs are just illustrations of the result what was discussed in the article forming the basis of the “Blame China?” post.
Greenspan should be remembered for his ability to create a longer lasting debt bubble than John Law. Both bubbles were based on the “value” of notes issued by their respective banks. I just wonder at the consequences when people realize that Greenspan’s notes are as worthless as Law’s.
December 27th, 2008 at 7:38 am
Some things have changed. At least the people had the sense to realize the fraud and run Law out of the country. Greenspan, on the other hand, gets a plush job and speaking engagements.