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Thread: Central banks dump U.S. dollars

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    UHF JUNKIE UHF Moderator Rank ricklbert's Avatar
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    Central banks dump U.S. dollars

    Central banks dump U.S. dollars

    October 12, 2009

    The pressure on the dollar increases. Central banks, which sit on huge amounts of financial resources, dumping the U.S. currency in favor of the euro and the Japanese yen.

    The financial news agency Bloomberg last quarter, central banks have their financial reserves built up with 413 billion U.S. dollars. Total reserves now amount to 7.3 trillion U.S. dollars. Some 63 percent of the growth will fall on the euro and the yen.

    In 1999, the share of the dollar in the new reserve was 63 percent. Analysts expect the coming months that the currency remains under pressure.

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    Last edited by ricklbert; October 13th, 2009 at 08:32 PM.
    “How is freedom measured, in individuals as in nations? By the resistance which has to be overcome, by the effort it costs to stay aloft. One would have to seek the highest type of free man where the greatest resistance is constantly being overcome: five steps from tyranny, near the threshold of the danger of servitude.”

    Friedrich Nietzsche

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