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Pimco Says Dollar to Weaken as Reserve Status Erodes

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posted on Aug, 18 2009 @ 09:52 PM
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Pimco Says Dollar to Weaken as Reserve Status Erodes


www.bloomberg.com

Aug. 19 (Bloomberg) -- Pacific Investment Management Co., which runs the world’s biggest bond fund, said the dollar will weaken as its status as a reserve currency is eroded by concerns about the increasing U.S. money supply.
(visit the link for the full news article)




posted on Aug, 18 2009 @ 09:52 PM
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Is this finally it? Are we going to see major devaluation here? Or is it going to be a long downward spiral like the track we are currently on? Many of us here already know that this was bound to happen, the question was when. Im taking this as a warning and I am going to diversify to protect my wealth. Should be a very interesting fall!

www.bloomberg.com
(visit the link for the full news article)



posted on Aug, 18 2009 @ 10:57 PM
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Originally posted by crw2006
Is this finally it? Are we going to see major devaluation here? Or is it going to be a long downward spiral like the track we are currently on? Many of us here already know that this was bound to happen, the question was when. Im taking this as a warning and I am going to diversify to protect my wealth. Should be a very interesting fall!


I hear you totally, dude. I've already got a good portion of my savings in Euros, and I'm just waiting to see some major world events or more drastic pip movements before I make another long term bet (I bought 10,000 euros last year for $16,000 US, when it's now only worth a little more than $14,000 US, meaning a loss of $2,000!).



 
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