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I like how the article makes it seem like Russia is ramping up its dollar holdings:
Russian holdings of U.S. Treasuries gained $200 million in September to $121.8 billion, the most since May and an increase of more than 22 percent since September 2008, according to a Treasury Departmentreport released on Nov. 17.
The actual record shows a slightly different picture:
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
Dec
Nov
Oct
Sep
Country
2009
2009
2009
2009
2009
2009
2009
2009
2009
2008
2008
2008
2008
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Russia
121.8
121.6
118
119.9
124.5
137
138.4
130.1
119.6
116.4
108
110.8
99.6
Were the Treasury monthly net issuance figures available, it would make these numbers look even worse.
Thats Dollars from Canada & Oz...May be Zim-bar-be as well ;)
Mike
Rogers is also buying dollars
And there are many, many pessimists about the dollar, including me. So many pessimists that I suspect there's a rally coming. I have no idea why there should be, but things do usually rally when you have this many bears at the same time. I've actually accumulated a few more dollars. I mean, it's not a significant position, but I do own more dollars than I did a month ago. And we'll probably also have a gold correction because there's so many bulls on gold. http://www.businessweek.com/magazine...8011706814.htm
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