Reply #27: Foreigners not dumping US dollar assets -Greenspan

[MARALE]

Another Greenspin

http://www.reuters.com/financeNewsArticle.jhtml?type=bo...

He also said recent reports of a significant move toward selling off U.S. dollar instruments by foreign central banks was incorrect.

"The extent of holdings remains very heavy for dollars as a share of aggregate holdings. Part of the decline, very small, is the very fact that if you take a portfolio with dollars and euros, and the dollar's price falls relative to the euro, the value of euros in dollar equivalents rises," Greenspan told the Senate Banking Committee.

"Therefore it looks as though the dollar has gone down as a share of total outstanding portfolios, when indeed it has not," he said.