My husband went to a social occasion a few days ago. After the meal, he sat down with a few men and talked shop. Since these are people over fifty years old, they are all financially savvy.
One men said that he just sold every bit of investment he owned in North America. But why? A second man said that he went to change the local dollar to American dollar. Guess what, the money changer no longer stock dollars beyond what they need on a daily basis. He has to negotiate a rate and then go back in a few hours to collect the foreign notes. A third man who reads the Chinese newspaper commented that the Chinese government was switching their US treasury bills to US properties.
It seems like the market is buzzing about an imminent devaluation of the green back. All these are market sentiments. Probably groundless and rumour mongering. Please note that this dyslexic rambler is not a back yard economist. I can't tell what is advance warning and what is rumours! What interests me is that if such a devaluation happens at the crucial few days when we could exchange the little that we have put aside for Elizabeth's tuition, her dream of studying in USA can come true. And it would be by God's grace and providence.
No comments:
Post a Comment