Central banks shift reserves away from US

[housewolf]

Central banks shift reserves away from US
By Chris Giles
Published: January 24 2005 00:03 | Last updated: January 24 2005 00:03


Central banks are shifting reserves away from the US and towards the eurozone in a move that looks set to deepen the Bush administration's difficulties in financing its ballooning current account deficit.

In actions likely to undermine the dollar's value on currency markets, 70 per cent of central bank reserve managers said they had increased their exposure to the euro over the past two years. The majority thought eurozone money and debt markets were as attractive a destination for investment as the US.

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http://news.ft.com/cms/s/9ef63678-6d7d-11d9-9b69-00000e2511c8,ft_acl=,s01=2.html

[Scooter24]

1. Foreign Currencies

are a great investment and adds a little diversity. I've shifted a good portion of my portfolio into that sector in mid-2001 and it has paid off considerably.

[aquart]

2. But...but...but our economy's doing great! Ain't it?

[izzie]

3. Even some in the GOP worry about this.

We all should be.

[ayeshahaqqiqa]

4. and I'm arguing with some folks

who tell me it would be great if ALL of Social Security was privatized so they could invest in US companies......

[ze_dscherman]

5. Discussed yesterday in another thread

This survey really has made a lot of similar news.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=1177956&mesg_id=1177956

[Moderator]

6. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1177956