Tuesday, November 18, 2008

Rumblings from Mitsubishi UFJ Securities

Asia Times reporting Japanese economists speculating that some US Treasuries will be denominated in YEN.

What the &$(@#.

From the article:
"The US will be forced to issue foreign currency-denominated US Treasures in its hour of need," said Mizuno [chief economist at Mitsubishi UFJ]. "The US cannot finance its deficit by itself. The US financial system cannot survive without foreign investors. We will see 'Obama Bonds' in the future."
The dollar is strong right now. I don't know when it peaks, but when it does it will be like jumping off a cliff. It will be hard to see this within the country, but anyone or anything that does business outside the border will see it.

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