Between the bailouts, the bank recapitalizations, the stimulus, and the latest Federal Reserve action plan – which involves buying up $1 trillion in Treasuries and mortgage bonds – the U.S. national debt has already ballooned past $11 trillion.
The Politico is reporting today that Geithner is “open†to China’s request for another reserve currency. (In Obama’s press conference Tue. Night he said he wasn’t for that happening) Putin is calling for another “world†currency as well, and I’ve read that some of the middle Eastern countries are requesting gold for oil, not dollars.
Does Andrew think that the dollar will lose its reserve currency status? Should we dumping ALL dollar investments? We’ve been buying gold coins off and on for over 2 years …. Should we buy more real estate, commodities, other currencies …. Other hard assets?
THANKS!
Joyce from Austin
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