Rishab Aiyer Ghosh wrote: [ on 08:18 PM 6/20/2007 ]
> http://www.ustreas.gov/tic/mfh.txt
what does this show? that east asian countries hold much of US public debt?
the chance that the US will not repay debt is negligible.
In effect, that was my point. Partly, by implying that the threat of
military force (which Cheeni was talking about) against all of the
countries in the list above was, is and will remain infeasible.
none of the investors who _can_ cause a depreciation of the dollar
(e.g. by selling dollar bonds for euro - rather than dollar -
shares) would do so. they'd lose the most from any rapid depreciation.
All this necessarily implies is that they wouldn't do anything *rapidly*.
as for syria moving more trade to the euro, that'll have as much
impact as a toddler pissing in the ocean.
As another data point out of many, however, it is still of interest.
Udhay
--
((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
