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The Saudi government and the Middle East in general are quite concerned over the declining value of their bonds and dollars which they hold. Last May Kuwait became the first Middle East country to bolt. Who will be next?
China and Japan are also concerned. Last August, for the first time, the flow of money reversed itself and began to flow out of America as these countries began withdrawing their funds and selling bonds without buying more US bonds.
"Data from the US Treasury showed outflows of $163bn (£80bn) from all forms of US investments. "These numbers are absolutely stunning," said Marc Ostwald, an economist at Insinger de Beaufort.
"Asian investors dumped $52bn worth of US Treasury bonds alone, led by Japan ($23bn), China ($14.2bn) and Taiwan ($5bn). It is the first time since 1998 that foreigners have, on balance, sold Treasuries."
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/16/bcnchina116.xml
If any of these major countries begin to bolt for the door, the panic in the world markets would have an immediate impact on our economy, probably forcing the Fed to raise interest rates dramatically. Of course, the collapsing dollar is "inflationary" because it takes more dollars to buy commodities. That means a rise in commodity prices, such as oil and metals.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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