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In my opinion, Ms. Janet Yellen is a very nice lady, even nicer when it comes to conferences and policy-making.
She will absolutely follow her predecessor's steps taping the QE.
USD is losing its dominate monetary position as a result of excessive debts they are taking on and the overvalued leveraged money market.
It appears to me that USD has depreciated at least 30% during last 6 years and even more during last 12 years. (starting from China joined WTO)
Now, the USD is facing a tough question: to be or not to be.
To be the world clearing currency or step aside let EUR or RMB, or even JPY (excuse me) take more and more weighted market share. I wouldn't if I am the chairman. QE taping is nothing but a gesture, to give the investor some good faith, or to tell the world, hey, wait a minute, we are still here.
Is US really recovering? Check out Europe, US's biggest customer. The answer is still no, a bullish equity market doesn't mean shit, excuse my language, SP500 is not overvalued if you can use CHF to recalculate it. More likely, it will still go stronger because it is a strategic method of fund-raising for all US public companies. The government wants it and the companies want it, it won't just collapse because George Soros is shorting it.
That's all for now, to be cont'd.
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