Jul 25 2007
Dollar rout
The dollar fell heavily again last night, reaching a new low of $2.06 to the pound and falling below 80 on the DXY dollar index. Wall Street also took a pounding as shareholders worried more about the housing
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John Redwood has been the Member of Parliament for Wokingham since 1987. First attending Kent College, Canterbury, he graduated from Magdalen College...
Conservative Party Economy News
Hi John,
I like short and simple explanations like the above.
Is it true that Brown has bought $112 billion of US Treasuries in the last 12 months. (US Government Stats)
Spain is selling off its gold reserves in an accelerating programme. Their Treasurer says he is buying bonds with the proceeds. Maybe these are also US Treasuries. Has the Dollar bail-out been going on since last year, European Governments to the fore trying to protect the eurozone? It seems very likely as this has suppressed the gold price boom.
If the dollar fall keeps going, despite intervention, will the eurozone crack?
How much money has Gordon Brown lost by buying US Treasuries? It would make a good headline.