The largest money manager int the world is buing $$$

[sandwind]

Larry Fink, CEO of BlackRock, the largest money manager in the world with $3.56 trillion under management, said he was a "very big buyer of the U.S. Dollar here" on Bloomberg TV. He mentioned that banks in Europe are still undercapitalized and the PIIGS (Greece, Ireland etc) still have sovereign debt issues.

The most interesting part of the interview, first noted by Washington's Blog, was Fink's comment that markets prefer totalitarian governments "where you have an understanding of what's out there", rather than democracies (democratizations of countries) which can be "dirty and messy". He thinks what we're seeing in North Africa is a "negative uncertainty" that could bring volatility to the market, and the jump in oil was pricing this in. Watch the BloombergTV video with Erik Schatz after the jump.





http://www.distressedvolatility.com/...us-dollar.html