In its current issue, The Harry Schultz Letter (HSL) reports rumors that "Some U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Some embassies are being sent enormous amounts of U.S. cash to purchase currencies from those governments, quietly. But not pound sterling. Inside the State Dept., there is a sense of sadness and foreboding that 'something' is about to happen ... within 180 days, but could be 120-150 days."
| Why would the embassies need a year's worth of local currency? |
| In case the local country no longer accepts US currency for the stuff the embassy buys locally ... |
|