all these countries with the dollar pegs need to bust them this weekend. DXU8 was falling after hours to 72.16 and I think the previous closing low was 70.40 not adjusted for inflation of course
I think you're confusing Obama with a neocon. He was against Iraq but he's gonna invade Iran/Pakistan?? The economy is going to tank anyway, the speculative bubble built up on Bush/Greenspan's watch and was exacerbated by Helicopter Ben - none of which had anything to do with Obama. Obama was one of the few people to vote against the Iraq war. This makes him one of the most hawkish fiscal conservatives in the US govt.
They'll bust them at something like 1.90-2.00, not 1.60. When they do bust them, the all-time dollar low will occur either immediately or pretty soon after.
I ran for Congress in Chicago the same year Obama was elected to the Senate. Obama's opponent Dr. Alan Keyes was my closest political ally and I followed the Obama -Keyes race closely and up front. In fact I was weirdly standing between Obama and Keyes at an Asian parade when Obama became hostile towards Keyes over a number of debates flap. The media captured the event and I was unwitingly seen by television viewers throughout Illinois that evening. From that incident forward I've felt that beyond just being a Marxist, Obama is a truly weird dude. Con guy. An act. Since 1998 I've spoken to Obama on 4 separate occasions and have seen him speak perhaps two dozen times. I'm ET's authority on Obama. I take little pride in that fact. Here's Obama on âpeaceâ. From Obama's speech to the American Israel Public Affairs Committee early last month: "I will bring to White House an unshakeable commitment to Israel's security. That starts with ensuring Israel's qualitative military advantage. Will ensure Israel can defend itself from any threat, from Gaza to Tehran. As president I will implelement a Memeorandum of Understanding to provide $30 billion in [defense] investments to Israel - not tied to any other nation. As president I will use all elements of American power to pressure Iran. I will do everything in my power to prevent Iran from obtaining a nuclear weapon. Everything. Israel's security is sacrosanct. It is non negotiable." Obama comments on Iran and Pakistan during his Senate run: As Obama told the Chicago Tribune on September 26, 2004, "The big question is going to be, if Iran is resistant to these pressures [to stop its nuclear program], including economic sanctions, which I hope will be imposed if they do not cooperate, at what point ... if any, are we going to take military action?" He added, "Launching some missile strikes into Iran is not the optimal position for us to be in" given the ongoing war in Iraq. "On the other hand, having a radical Muslim theocracy in possession of nuclear weapons is worse." Obama went on to argue that military strikes on Pakistan should not be ruled out if "violent Islamic extremists" were to "take over." As far as your market take: Who knows? The U.S. has been running on over hyped credit for 30 years. The risk is massive inflation rather than prolonged depression. Back to the subject of this thread and I see currency devaluation as an expected event. IMO Gold will be 2k an ounce within 18 months. Obama's policies will freak the markets out. Where were markets in Jan of 2007 when the Dem's took control of Congress? Congress just passed a law requiring taxes from ex-pats for I think seven years after you renounce citizenship. Rich folk are cashing out of here. When inflation is spiraling and asset prices are sinking raising taxes is death. Obama's commitment to spending requires additional revenue. The cutback in war spending is dick. Iraq is under 4% of the 08 budget as is and even under Obama that won't go to zero. My prediction is the U.S. will have 20-30k troops in Iraq the rest of my life. A place soon to be majority minority is a bad bet for prolonged investment at still high dollar multiples. The U.S. Is simply pricing in some third world risk. We should. Walked around downtown L.A. or Miami lately? Friggin U.S. looks like Honduras. The U.S. is a country of class warfare losers. They've found their Messiah.
So where is a good place to park some money, long term? I remember Jim Rogers liked the Yen and Franc. To benefit as the carry trade unwinds.
I've seen that chart before... the Euro looks like a long. While I have no idea as to the extent of the follow through or how bad the jiggle through the level will be, I intend to buy the Euro at new highs and hold for a minimum of 100 pips.