A lot of people feel safer holding cash right now.
The funny thing is, when the the US Congress approves the 700 Billion rescue plan, then Western Nation's cash will buy a lot less raw materials, food, fuel, etc.. than it does now.
In my view: It's pay up US$700Billion now - or start a meltdown in the $62Trillion Credit Default Swap market. The first option causes: stagflation or recesssion in US. The second option causes: world wide depression.
Joel
UMC Price at posting:
$1.29 Sentiment: LT Buy Disclosure: Held