Sequitur^ This. The US $dollar$ is the ultimate in counter-party risk currencies, backed by nothing except $100 trillion in unfunded liabilities. If you are getting out of Euros and into $, you just know the Euro is beyond fucked, a true Weimar Republic currency. Never forget German newspapers told its citizens to get out of Euros and to buy gold.
What the Fuck are they giving us..NEWLY PURCHASED SOVEREIGNS BONDS?? Do not tell me that Ben is not secretively repoing out the dollars and this is a straight currency exchange. We already learned from the disclosures what he is upto. Who on Earth would buy the Euro which is bound to fail and not grab as many dollars and metals as possible?
After massive QEs and ZIRP the dollar has nowhere to go but up which means the stock market is headed downward as the EUR implodes.