May 22, 2007 – On September 25th of last year, I blogged about the close relationship of Goldman Sachs and the U.S. government and how it was more likely than not that Goldman Sachs dumping of 72.66% of the unleaded gas position in its commodities index right before the mid-term Congressional elections was politically motivated. The following week, the New York Times wrote the exact same article.
On March 13, 2007, I delivered my opinion here about the foolishness of the U.S. Congressional stance towards China and its heavy handedness in threatening China with tariffs given China’s huge ability to influence the continuing downfall of the U.S. dollar. This week, more than two months later, The May 19th Economist, on pages 71-73, published an article that basically is a carbon copy of my March 13th blog article. In fact, I’m beginning to think that finance and economy journalists are reading my blog to formulate articles of their own.
I have many thoughts about the recent Asian summit held in Chiang Mai, Thailand where the Asian tigers met to strategize about pooling their reserves. (correction: held in Kyoto, Japan. The summit was to revise an accord drawn up in 2002 in Chiang Mai). I, for one, don’t believe the story as it was spun in the media as it was spun very matter of factly, and again have very different views than the media about the significance of this Asian currency reserve pool. Maybe if I blog about it, my opinion will show up again in the Wall Street Journal or some other publication.
[tags]China tariffs, Joseph Stiglitz, politics and stocks, dollar crisis[/tags]
