Judy
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Posts : 75
Join date : 2007-09-18
 |  Subject: Fears of Dollar Collapse as Saudis Take Fright  Sat Sep 22, 2007 11:38 pm | |
| Fears of Dollar Collapse as Saudis Take Fright - Quote :
- Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.
snip
There is now a growing danger that global investors will start to shun the US bond markets. The latest US government data on foreign holdings released this week show a collapse in purchases of US bonds from $97bn to just $19bn in July, with outright net sales of US Treasuries.
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