Hopefully this pile of reserve cash can offset the sting of money soon to be lost.

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Tapping into the Strategic Petroleum Reserve to help offset rising oil prices is another way to keep prices stable, albeit short term.

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Unlike the Federal Reserve, the ECB will offset these purchases by taking an equal amount of money out of circulation.

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Watsa can play this reserve two waysas a cushion to offset future underwriting problems, or to add to earnings when and if he deems future risks insignificant.

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Renewed confidence that the European Central Bank and Federal Reserve would continue their stimulus policies helped offset data showing unemployment in Germany increased in February.

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