Thanks to Sherry for this wonderful video on the impending collapse of the USD. As with any video either promoting gloom and doom or the sky’s the limit, we should review it critically because everyone has an agenda, myself included.
What I can tell you, as a Forex trader, is that we’re in the midst of a major trend away from the USD. The reason is quite simple, US economic fundamentals are dismal and the Fed continues to pump up the money supply just to stabilize us from the real estate and subprime mess. I happen to agree with the “Fat Man” example in the video and Austrian Economics will tell you that imbalances will eventually correct themselves, no matter how hard you try to intervene (ala Federal Reserve).
What does this mean? Well I for one have been slowly buying non USD denominated assets in my Forex Acct.
Hi Tom,
Did you notice that the “panic about the dollar” is on the cover of the newest issue of Economist magazine?
Be cautious with running away from the USD…;)
Greetings,
Tibor
Yeah, I saw that at lunch, perfect timing!
The Arabs are meeting on the dollar this week,
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Foreign exchange markets are on alert this week for the embattled dollar to face a further, severe sell-off after key talks between the Middle East’s Gulf states that could lead to them scrapping their currencies’ pegs to the greenback.
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http://business.timesonline.co.uk/tol/business/economics/article2988001.ece
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