The safest investment has been to bet against the US Dollar.
What kind of "recovery" is that?
Since spring, the US Dollar has collapsed against other currencies.
The Brazilian Real is up 25%; the Swiss Franc up 14%; the Canadian Dollar, Euro and Pund Sterling are up 13% as is the Russian Ruble.
As the smart money continues to escape the shrinking Dollar, you can bet that there is worse to come.
Friday, 25 September 2009
Shorting the dollar........from Rico
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2 comments:
Isn't that what soros and buffet starting doing late 2007 and for all of 2008?
A number of analysts are predicting $30/oz silver by the end of the year. Peter Schiff says he expects to see $5000/oz gold within two years.
This past year I've been putting every spare cent into silver, on the grounds that it would be easier to move it should I need to convert it back to dollars, and it has further room to move relative to its current price. But either silver or gold is a highly advisable place to put whatever you can save.
Present federal borrowing trends continuing, inflation will eat every cent we leave in dollar-denominated assets. Now is the time for all prudent men to see to their financial defenses.
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