[Ghost of Philip Marlowe]

Karl Deninger at Market Ticker thinks its prep for a huge out break of the swine flu.

I think he makes a pretty good case.

You wouldn't be swapping them for a local currency if it were a major international upheaval, like war. You'd be doing what China is doing and buying valuable commodities.

You exchange a common currency like the US dollar for a local currency when you think you're going to go in lock-down mode (that is, no travel, no in, no out, not even for trade). Epidemic is the usual suspect in such a case.

[txhurl]

Epidemic is the usual suspect in such a case.

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Or bank holiday.