08/19/2006 Total Gov’t Debt $8,416,040,539,137.12
08/19/2006 Money Supply $11,040,192,336,641.00
Speculators are dumping dollar-denominated debt, and
money into local-currency government bonds in developing
countries, according to the Wall Street Journal. Hedge funds,
among others, are moving into local-currency bonds of Mexico,
South Africa, Brazil, and Turkey, abandoning the dollar.