Monday, November 21, 2011

Foreign Banks Double Dollar Deposits at Fed

Foreign bank deposits at the Federal Reserve have more than doubled to $715 billion from $350 billion since the end of 2010 amid Europe’s debt turmoil, buttressing the dollar’s status as the world’s reserve currency...
A budget deficit of more than $1 trillion, a deadlock among Congressional supercommittee members on spending cuts and 9 percent unemployment haven’t deterred investors from seeking safety in the world’s biggest economy...
Comment: In the past bankers haven't shown much savy actually when it comes to good places where to invest.

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