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Minyan Mailbag - More Repatriation



Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.


Hello from Italy...

The gold market has been talking about the potential dollar repatriation for the last six months, but there has been one thing that hasn't convinced me about the impact on currency markets.

Isn't most of this money already in dollars???

Or why would Pfizer (PFE) be keeping the money in euros???

I can understand that their working capital in Europe would be in euros, but why would their excess capital not be in the same currency as their balance sheet.


Minyan Mattison Reinecke
Torino, Italy


We estimate that there is roughly $300 billion to repatriate. This has been known for a while and companies probably converted some already. What is left is not going to move the market. We also expect that most will go back over after the time limit to, as you point out, fund operations.

Prof. Succo

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