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Former Federal Reserve Chairman Alan Greenspan said the dollar's depreciation may reflect growing unwillingness among foreigners to buy U.S. debt.
``Obviously there is a limit to the extent that obligations to foreigners can reach,'' Greenspan said in a speech in Washington today. The dollar's decline to its lowest since 1997 may be ``an indication America is approaching this limit.''
This is a downward spiral that cannot, like with people, be stopped without intervention. The point of intervention was when ex-Chairman Volcker said the dollar would continue to decline until policies were put in place that have a proven history of turning deficit towards surplus . None of that has occurred as we stay the course. The Formula is active here as well.
What Greenspan is talking about is the negative Treasury International Capital Flows (TIC) report which is the stuff .7200 USDX and lower is made of.
Originally posted by Terrapop
Looking forward to my next holiday in the US... changing my Euros to Dollars
Originally posted by traderonwallst
reply to post by Terrapop
If you stay for a while you will be able to profit hansomely on the conversion back to your original currency!