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Oct. 22, 2004
Many of you don't know I am a hedge fund trader specializing in currencies. I talk to people from around the world every day.
This came my way the other day from a contact in the biz and I thought you might be interested in it. The last time there was this much urgency to dump the U$D in that area of the world was a few months prior to 9-11.
This could mean something and it could mean nothing....but we take notice in my line of work.
I just got another email from the guy I told you about before in Cz Repub. who owns 3 money changing houses and is an FX Spot trader as well . This is his broken email to me summarizing, the USD is flat out being dumped, still. It isn't making headlines for some "reason". He, as you may remember I told you, has a strong tie to a large bank in Cz...banker said they are flooded with USD from people changing their accounts over to another currency...EUR, Cz money etc...anything to get out of USD. The Chinese he says there are dumping all their USD. We're not talking FX specs, we're talking mom and pop dumping what they thought a month ago was a solid hedge…the USD.
The person has sent me two other emails in two weeks saying the same thing..one of which you got already, evidently it is an ongoing thing to sell off USD. I didn't know the Chinese are heavy into Cz but evidently they are and dumping USD too. He says yards (Billions). After all, he's the one changing it!
Originally posted by Romeo
this link was posted at the top. I'm not sure I'd bother trusting it. Drop back to the homepage lol.
Originally posted by specialasianX
I think its just the world has lost faith in the USA.
Not just because of the War, but because your choice of leader leaves alot to be desired. The way we all see it is;
Vote for bush and we're screwed...
Vote for Kerry we'd be slightly better off... but still screwed...
Doesnt really give anyone much faith in the direction your country is going