Archive for October 2009

More pressure on Greenback – is there any exit in sight?

October 6, 2009


The price of gold is on the top and the value of USD is down. According to the Middle East Online the Golf states are joining BRIC-countries and France in a move away from dealing oil for US Dollars. This will be a sign to follow carefully.  I therefore see my earlier statements confirmed and keep my projection of long-term devaluation of USD.  It is exactly what is needed in the US to start economic healing and balancing the trade.  USD reserves are melting when measured in foreign currencies. If you haven’t done yet, now is the time to move your USD assets to the US, where the lower value of greenback doesn’t hurt so much – dollar remains a dollar anyhow. On the other hand holdings of other currencies might bring huge wins in the future, when exchanged to USD at a latter day.