The Great Dollar Pump of 2008: A Doomed Central Bank Intervention [View article]
A very illuminating article. I have one question though: The ECB has probably also swapped toxic debt of a similar order to the Fed for bonds, so perhaps the drop of the dollar will be less than projected, although inflation etc will be just as bad?
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A very illuminating article.
Sep 08 09:46 am
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All Comments by David Martin »The Great Dollar Pump of 2008: A Doomed Central Bank Intervention [View article]
I have one question though:
The ECB has probably also swapped toxic debt of a similar order to the Fed for bonds, so perhaps the drop of the dollar will be less than projected, although inflation etc will be just as bad?