Re: China & The Dollar
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Yes, but somebody eventually ends up holding those crappy loans. You think its a coincidence that Fannie Mae suddenly reports $10 Billion in derivative losses from "hedging" (that they tried to sweep under the rug)and are experiencing massive liquidity problems (they cut their dividend and skipped executive bonuses this year)?
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I think we are in agreement here. I don't think it is a good thing at all and the people who invest in these are going to get hurt. It's hard to tell how many companies have their fingers in these MBS's.
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Bottom line: get your money out of the US pronto. Smart money like Buffett, Soros, Gates are already long gone.
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I've heard people say this a lot--but how would you recommend someone going about this? Do you just directly buy other currencies? Or some sort of funds that invest in others?
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