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April 24, 2006
Demand for Euros
Barron’s and Gartman have an idea of what is driving demand for Euros: “In the free-floating monetary system -- or more properly, a lack of monetary system -- currencies have become international brands, like Coke. And the dollar is showing signs of losing market share. Euro notes in circulation, especially of the €500 denomination, have increased 22% in the past year. Observes Dennis Gartman, editor of the daily Gartman Letter, a suitcase of euronotes weighs the same as one filled with $100 bills but is worth 6.1 times as much, a boon to drug dealers.”
Posted by Arthur B. Hill at April 24, 2006 03:25 PM