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U.S. assets and gold are being sold offshore as the world scrambles to afford higher oil prices

From morningstar.com

The oil shock has already prompted many Asian, European, African and South American nations to roll out measures to conserve energy, cap fuel prices and offer public subsidies to offset the historic supply crunch. It's also led several countries scrambling to raise cash by selling what they can to pay for increased energy costs. "A lot of countries are in a bit of a double bind," said Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute. Not only have oil prices surged, but many local currencies have fallen in value, making their money stretch less further, he said. By selling ... (full story)

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