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From: bart138/9/2008 4:10:43 PM
24 Recommendations  Read Replies (10) of 106291
 
Dollar intervention

Here's the chart of the balance of Euro in the U.S. ESF (Exchange Stabilization Fund) account, along with the USDX and Euro values themselves on the right hand scale.






The very large drop recently (the blue line) tells part of the story. Another part is told by the Treasury site itself - that recent data about the drop was delayed for almost three weeks before it was made public.
Another part is told by very recent data not being made public for the last two weeks running.

What the ESF did is simply sold about 10 billion Euros and bought dollars - plain and simple massive intervention that virtually everyone has missed or ignored or pretended doesn't exist or whatever.

That chart and others, including one for the yen balance, are on my currencies page.

All this noise about what's going on with gold or the dollar or whatever... and the raw facts are sitting there at http://www.treas.gov/press/international-reserve-position.html, just like the ECB data about gold manipulation & control is at the ECB.
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