Tuesday, 24 March 2009

Go close enough and it will break your arm

I think China is all talk and no action on the dollar at the moment. But if they are not, there is a fortune to be lost or made when the Wile Coyote moment arrives.

Update from the Huffington Post here. My favourite quote is from Chalongphob Sussangkarn, a former Thai finance minister and now president of the Thailand Development Research Institute:
The U.S. deficit is so huge... This is why all countries, particularly [in] East Asia, are concerned because we hold a lot of these assets. What happens if the U.S. dollar falls 40 percent? Many central bankers will be losing huge amounts of money.

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