The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
(c) Financial Ninja, Really Scary Fed Charts: NOV, US Bankrupt?
Замечу, что 2 триллиона - это более пятнадцати годовых бюджетов Саудовской Аравии.
As of November 13th, 2008 the Total Factors Supplying Reserve Funds have expanded to $2 250 204 000 000 ($2.250 TRILLION). That's an increase of $142 371 000 000 ($142.371 BILLION) from LAST WEEK.
(c) Financial Ninja, Federal Reserve Balance Sheet Explodes
Замечу, что эта сумма (за неделю) превышает в три раза ЗВР Украины.
The dollar’s strength has also had a big impact on commodity prices. Many speculators have invested heavily in the “long commodities and short dollar” trade. As the dollar strengthened, they unwound their positions in commodities too, causing prices to tumble. As I argued above, though, the constraints on the supply side and demand in emerging economies will favor high energy and agriculture prices for years to come.
As the technical factors run their course, speculators will come back into energy and gold. Real interest rates are already negative, and rate cuts could accentuate this. With paper currency depreciating in real value, it is rational for investors to buy value-preserving commodities like energy and gold. The bullish story for energy and gold may last for a decade. Of course, they will fluctuate, as the current trend demonstrates. But they will remain good assets in an era of inflation.
The dollar’s strength will continue for three to six months. As the US economy slows, so will its imports. The trade deficit may fall quickly enough to strengthen the dollar further, but monetary loosening measures will come back to bite later. The US Federal Reserve (Fed) cares more about the economy than inflation. Indeed, when the market shifts its attention to the ballooning debts of the Federal government, the dollar could have a bigger crisis than the last one.
(c) Andy Xie, Nuclear Winter
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