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?
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?