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In fact, his argument against holding cash (higher dollar inflation is now likely) makes a better case for investing abroad.


I'm not sure dollar inflation will be any worse than euro inflation. The EU countries have commited far more to the bank bailout than the US - at least a trillion dollar's worth - so far, and the French seemed determined to spend more.
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"If they can't picture me with a knife, forcing them to strip in an alley, I don't want any part of it. It's humiliating." - windsock