They are no dopes

Mexico, Turkey, Colombia sell dollar bonds.

Sure, borrow today in dollars and pay back years later in depreciated dollars after Bernanke has debased the currency.

You wouldn't want to borrow in a real, hard currency like Mexican pesos or Turkish lira. Then you'd have to use real money to pay it back.

No comments:

CalPERS Fail

Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...