From Bloomberg news Feb 27, 2009:
The dollar rose to a three-year high against the currencies of major U.S. trading partners as the plunge in the yen and Swiss franc left the world’s reserve currency the only refuge from economic turmoil.
“There are no alternatives to the dollar right now,” said Geoffrey Yu, London-based strategist at UBS AG, the world’s second-biggest currency trader. “Investors see the rest of the world collapsing, and the yen is no longer a safe haven.”
“In the longer term, the vast external liabilities of the U.S. economy argue for a weaker dollar,” said Axel Botte, a strategist at Paris-based AXA Investment Managers, which has about $800 billion under management
Commentary: Here we have the "reserve currency" of the world that is being debauched by huge increases in federal government debt and deficits and it is considered the "sole refuge" for investors. Good luck to them I say as the purchasing power of the dollar rapidly erodes as the money supply EXPLODES!
How about investing in some nice tangibles. Gold, Silver, Oil and Farmland come to mind. Even a rental property looks good in this environment.
The dollar rose to a three-year high against the currencies of major U.S. trading partners as the plunge in the yen and Swiss franc left the world’s reserve currency the only refuge from economic turmoil.
“There are no alternatives to the dollar right now,” said Geoffrey Yu, London-based strategist at UBS AG, the world’s second-biggest currency trader. “Investors see the rest of the world collapsing, and the yen is no longer a safe haven.”
“In the longer term, the vast external liabilities of the U.S. economy argue for a weaker dollar,” said Axel Botte, a strategist at Paris-based AXA Investment Managers, which has about $800 billion under management
Commentary: Here we have the "reserve currency" of the world that is being debauched by huge increases in federal government debt and deficits and it is considered the "sole refuge" for investors. Good luck to them I say as the purchasing power of the dollar rapidly erodes as the money supply EXPLODES!
How about investing in some nice tangibles. Gold, Silver, Oil and Farmland come to mind. Even a rental property looks good in this environment.
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