Greece, Swaps and Dollars

Not only is Greece in a lot of trouble with the derivatives they have created to hide their budget deficits, but it spells deeper trouble for the EU and the Euro. A meltdown of the Euro would surely send financial markets in a tailspin. This is great news for all those long the dollar, but would your gains in the dollar offset your losses else where? US Treasury demand experienced a record drop in Dec as China dumped some of its holdings, a sign that there is some confidence in the recovery. Could be a bit early

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDibpgE_X2MM&pos=5

http://www.ft.com/cms/s/0/49639438-1b21-11df-953f-00144feab49a.html