This seems to have created quite a chuckle for some EPJ Daily Alert subscribers this morning, where I wrote:
Currently, it is the US dollar that looks the strongest and the prettiest, but this is the same kind of attraction a fat, ugly slut has in a bar at 3:00 AM. Avoid at all costs.
The US dollar is a drunken stumbler. Take it home with you and you deserve what you get, including vomit all over the place. Anything could trigger panic out of it. And I don't rule out a "speculator attack" on China's yuan-dollar peg.
As Europe, Japan, South America, Russia, and Ukraine have monetary problems, the dollar could rise as the "safe-haven" currency. Also, what's credit doing? Credit makes up the bulk of the money supply.
ReplyDeleteCredit as in savings, loans made to banks. Loans made by banks are not included in M1 or M2.
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