Something to keep an eye on

Greenspan says it's beginning:

"We're beginning to see some move from the dollar to the euro, both from the private sector ... but also from monetary authorities and central banks," Greenspan told a conference sponsored by the Commercial Finance Association.

I'm continuing to read Secrets of the Temple, and a lot of the books deals with the Fed's problems stablizing the money supply and interest rates. One of the huge factors was the foreign supply of dollars, referred to as the "eurodollar" market.

Now, it's one thing when European private banks and investors start selling or loaning dollars, but when central banks start moving out of the currency wholesale, at whatever speed... watch out. The slightest panic could end up in a world dumping of dollars.

That would not be good for those of us who use dollars, as I understand it.

Hat tip to Lew Rockwell.