Euros as a settlement currency

[Steven]

Alan Greenspan just asked Congress to eliminate the debt ceiling...
we've been hovering above the existing debt ceiling ($6.4T) for about a
week now (see  http://www.publicdebt.treas.gov/opd/opdpenny.htm).  

Selling this debt is going to be a BIG problem when there is no one left
who is willing to purchase this debt.

I actually think that this "Strong Dollar Policy" is a sham.  IMHO I
believe that Snow was installed to devalue the dollar in order to make
the US goods and services more competitive on the world scene.  Let's
see how far below 100 the USD Index will go.

Steven

-----Original Message-----
From: owner-lbo-talk at lists.panix.com
[mailto:owner-lbo-talk at lists.panix.com] On Behalf Of Doug Henwood
Sent: Sunday, February 16, 2003 6:14 PM
To: lbo-talk at lists.panix.com
Subject: Re: Euros as a settlement currency

Steven wrote:


>All of this has to have the masters of the US fiat currency quite 
>concerned about USD hegemony.  If the world doesn't continue to trade 
>in USD's, then how in the hell are the 'string pullers' supposed to 
>finance all this debt?

That's a problem, esp as they're about to issue gobs of it. And the 
euro chart 
<http://finance.yahoo.com/q?s=^XEU&d=c&k=c1&a=v&p=s&t=2y&l=on&z=m&q=l> 
seems to agree.

Doug