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March 05, 2008
It’s perhaps too easy to read too much into these news items. Nevertheless they are probably a good indication of people’s views on the asset class. That inflation is beginning to spook the great and good of the American governing classes is clear from the utterances of Ben Bernanke, the Chairman of the US Federal Reserve. His policy of drastically cutting interest rates has so far only reduced the value of one commodity: the US dollar. It traded as low as US$1.52 to the euro last week, meaning...
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