Tuesday, February 11, 2014

 

I am not worried about the U.S. dollar

There is a lot of financial shenanigans going on around the world.  I am critical of the Federal Reserve but they are not the worst and this is why I am not especially worried about the U.S. dollar.  There will be another financial crisis in our future and the question is whether the dollar will maintain its safe haven status.  It will.

Coincidently, at a Chinese New Year lunch last week, one of the diners said he had this very discussion in Shanghai with colleagues the previous week, and all 10 of them said they would shift their savings to U.S. dollars if they were they free to do so. 

There you have it.  If Chinese businessmen are not worried then neither am I. 

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