Central banks are shifting reserves away from the US and towards the eurozone in a move that looks set to deepen the Bush administration's difficulties in financing its ballooning current account deficit.

http://news.ft.com/cms/s/9ef63678-6d7d-11d9-9b69-00000e2511c8.html
http://snipurl.com/c9c6


Central banks 'shunning dollar' :

The US is running a budget deficit of close to $500bn a year, funded largely by China and Japan buying large amounts of US government bonds.

http://news.bbc.co.uk/1/hi/business/4200811.stm


Dollar at mercy of central banks:

During the past few years the US has become dependent, not so much on millions of investors around the globe but on a few individuals in a few of the world's central banks.

http://news.ft.com/cms/s/bd52ee06-6dad-11d9-ae0d-00000e2511c8.html

http://snipurl.com/c9cb


Forbes: Doom For The Dollar:

The dollar's fall is more a symptom than a cause. The real problem is that the U.S. is producing too little--and spending too much--and the result is likely to be far worse than the happy-talkers on Wall Street will ever let on.

http://www.forbes.com/economy/2005/01/10/cx_da_0110doomdollar.html
http://snipurl.com/c9c9


From Information Clearing House