Posted on 10/26/2009 11:07:33 AM PDT by Lorianne
It was only a matter of time before asset managers said "enough" to Bernanke's plan of debasing the dollar day after day, and took appropriate measures. In a not very surprising, yet quite shocking at the same time, development, caught by Annuity IQ, Lazard's The World Trust Fund has had enough of the dollar. Lazard will "change the currency in which the Fund's shares are traded from US dollars to Sterling." Good work Mr. Chairman and Wall Street lobby.
The reason for the seismic shift:
In response to comments from a number of shareholders and potential investors in the Fund about the liquidity of the Fund's shares, the Board, having consulted with the Fund's brokers, Arbuthnot Securities, believes that having a larger number of shares in issue with a lower share price than at present and changing the currency in which the shares are traded from US dollars to Sterling, should assist in improving the marketability and liquidity of the Fund's shares and support the attraction and retention of a diverse shareholder base.
(Excerpt) Read more at istockanalyst.com ...
Did anyone tell The World Trust Fund that the UK has even worse deficits and financial problems than the US?
your right. I’m sure this is about something else.
That is exactly what I thought. Why not just invest in carrots. At least they can be kept frozen.
I was just thinking the same thing - the sterling isn’t much better off than the greenback. I’d think they’d be better off with Canadian dollars, or even the Yuan or the Yen.
YEP! Or with Australia, Korea, etc. There are so much better run countries than the UK...
Lazard Asset sounds suspiciously close to Lard Ass
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