I saw this comic drawing the other day on Wall Street Journal, European Edition. I thought it was quite funny and pretty clever, as the cartoonist combined his 'monetary' message with a lesson in Physics... the Archimedes Law of Leverage...Just wanted to share this with you. The article was about the need for a Central Bank type of intervention to support the dollar, currently trading @ 1,42 to the Euro as we speak, from 80 dollarcents not that long ago. Apparently, the current US Administration doesn't seem to GAF about the greenback rolling downhill at mach level speeds...
European and Japanese Central Banks don't seem to bother much either, notwithstanding the current state of matters is beginning to hurt their national exporters, especially those quoting international sales transactions in US dollars. Turns out that France's Sarkozy was the first European leader complaining about the situation @ 1,36... and so many of his other peers suddenly woke up @ past 1,40. Nonetheless, big frog ego ECB President Trichet swears by the Bank's independence and does his thing one way or another.
I wonder for how long more will the Yanks continue to leave their currency in shambles. It's so sad, really!
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