GRG55
10-03-07, 01:20 PM
Another brick in the (new world monetary order) wall...
From the UK Daily Telegraph on October 3, 2007...
Dollar's double blow from Vietnam and Qatar
By Ambrose Evans-Pritchard
Last Updated: 6:03pm BST 03/10/2007
Vietnam is planning to cut its purchases of US Treasuries and other dollar bonds, raising fears that Asian central banks with control over two thirds of the world's foreign reserves may soon join the flight from US assets.
The Saigon Times said this morning that the State Bank of Vietnam was abandoning the attempt to hold down the Vietnamese currency through heavy purchases of dollars. The policy is causing the economy to overheat, driving up inflation to 8.8pc.
Separately, the gas-rich Gulf state of Qatar announced that it had cut the dollar holdings of its $50bn sovereign wealth fund from 99pc to 40pc, switching into investments in China, Japan, and emerging Asia.
Link to full article:
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=HU3MNOZRAFXIDQFIQMGSFFOAVCBQ WIV0?xml=/money/2007/10/03/bcnviet103.xml
From the UK Daily Telegraph on October 3, 2007...
Dollar's double blow from Vietnam and Qatar
By Ambrose Evans-Pritchard
Last Updated: 6:03pm BST 03/10/2007
Vietnam is planning to cut its purchases of US Treasuries and other dollar bonds, raising fears that Asian central banks with control over two thirds of the world's foreign reserves may soon join the flight from US assets.
The Saigon Times said this morning that the State Bank of Vietnam was abandoning the attempt to hold down the Vietnamese currency through heavy purchases of dollars. The policy is causing the economy to overheat, driving up inflation to 8.8pc.
Separately, the gas-rich Gulf state of Qatar announced that it had cut the dollar holdings of its $50bn sovereign wealth fund from 99pc to 40pc, switching into investments in China, Japan, and emerging Asia.
Link to full article:
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=HU3MNOZRAFXIDQFIQMGSFFOAVCBQ WIV0?xml=/money/2007/10/03/bcnviet103.xml