格老关于美元的一个讲话

	格老警告人们对美元的胃口减少（ 我对一些经济方面的术语翻译不准，请参考，大概美元将意思说反,有些我也不明白，外国人说话经常是绕弯子） 内容的主要意思是美国应该减少赤字，而减少赤字不能靠减少国内投资或引起经济衰退的压制消费。"Alternative approaches to reducing our current account imbalance by reducing domestic investment or inducing recession to suppress consumption obviously are not constructive long-term proposals," he said. 他说外国投资者的最想强烈的需要减少持有太多美元的风险可能使得他们从美国的财富（？固定资产）离开，或者使得他们转向其他高收益的地方。The Fed chief said an eventual desire by foreign investors to cut the risk of holding too many dollars may lead them away from US assets or lead them to seek higher rates of return. 看起来令人信服，考虑岛美国经常帐的差，在某一个点上对增加美元平衡的需求的减少可定要发生。 "It seems persuasive that, given the size of the US current account deficit, a diminished appetite for adding to dollar balances must occur at some point," Mr Greenspan said. 他讲话后，美元对日元和欧元都编制了。 Greenspan warns appetite for dollar to dwindle Reuters Alan Greenspan: US should cut its record budget gap... The insatiable foreign demand for dollar holdings would eventually fall as investors diversify, US Federal Reserve Chairman Alan Greenspan said yesterday in remarks that landed hard on the dollar. Mr Greenspan told a banking conference in Frankfurt the US should cut its record budget gap to help narrow the shortfall in its current account and avoid a need to offer higher rates of return to retain foreign investment and painful economic consequences. "Current account deficits, even large ones, have been defused without significant consequences, (but) we cannot become complacent," Mr Greenspan warned in a prepared text of his remarks, which was made available in Washington. He was speaking ahead of weekend meetings in Berlin of the Group of 20 wealthy and developing economies, at which the tumbling dollar will likely be a topic for discussion. Mr Greenspan said cutting the US budget gap would be the best way to boost domestic saving and lessen America's reliance on foreigners to fund the huge shortfall in the current account, a broad trade measure that includes investment flows. "Alternative approaches to reducing our current account imbalance by reducing domestic investment or inducing recession to suppress consumption obviously are not constructive long-term proposals," he said. The Fed chief said an eventual desire by foreign investors to cut the risk of holding too many dollars may lead them away from US assets or lead them to seek higher rates of return. He warned this would elevate the cost of financing of the US current account deficit and render it "increasingly less tenable." "We see only limited indications that the large US current account deficit is meeting financing resistance," Mr Greenspan said. "Yet, net claims against residents of the US cannot continue to increase forever in international portfolios at their recent pace." "It seems persuasive that, given the size of the US current account deficit, a diminished appetite for adding to dollar balances must occur at some point," Mr Greenspan said. The dollar hit a new four-year low against the Japanese yen after his comments and fell against the euro, pushing the European currency back toward recent record highs. "What jumps out is (Greenspan) spending so much time talking about US net foreign debt. It seems like he has pooh-poohed that issue more in the past and is a bit more preoccupied with it now," said Greg Anderson, senior foreign exchange strategist with ABN Amro bank in Chicago.