Hi peaceandlove,
I think lazard may be changing a 6 for 2x3. Stirling is under so much pressure because of the British economy that the funds will not be all that much more stable. I think when the US$ goes under, Stirling will follow.
It's funny how these people don't seem to think. Just a few weeks ago, Russia, China, Brazil and a few others were discussing using a basket of currencies including the Yuan, Ruble, Yen and gold. If I had a huge fund to take care of I would keep it in this varied 'basket' so that even if one of the currecies goes down the plug hole, at least they will have coverage from the rest.
Still I'm sure they know what they're doing.
Best regards,
Steve
Quote:
Originally Posted by peaceandlove
SOURCE: http://solari.com/blog/ Catherine Austin Fitt's blog 
Lazard Asset Management Fund Dumps The Dollar
By: Tyler Durden Friday, October 23, 2009 12:58 PM
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.
BusinessWire reports that as a result of the insane dollar printing press operator's actions, Lazard will:
(i) change the currency in which the Fund's shares are traded from US dollars to Sterling;
(ii) undertake a sub-division of the Fund's share capital on the basis of 10 new ordinary shares for each existing ordinary share;
(iii) change the benchmark of the Fund to the MSCI All Countries World Index; and
(iv) increase the NAV on which the performance fee calculation is based ("Reference NAV") to reflect the underperformance of the Fund over the previous 12 months.
The reason for the seismic shift:
Continues: http://www.istockanalyst.com/article...icleid/3575322
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