Time To Buy The US Dollar?
Forty years ago, one US dollar bought 900 mg of gold. This morning you would only get 29.57 mg - a 97% devaluation. In just eight years, it has halved in value against the AUD $$. But is this the beginning of the end? Is the US $$ bear market almost over? You know the saying that when the financial news moves from the pink pages to the front pages, it’s time to change strategy.
As the proud holder of no US dollars, i’m less concerned by Ben Bernanke’s eagerness to swap mortgage securities for treasuries, his desperation in bailing out third tier investment banks, his urgency in slashing interest rates in the face of rapidly rising inflation and his manic flooding of the repo market with liquidity. I am concerned, however, that Gisele refuses to be paid in US dollars and that Jay Z chooses to flash a wad of Euro notes rather than $$. Buy dollars.
watch at 0:50
