Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East. http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/19/bcnsaudi119.xml When the euphoria over this rate cut dies down as the economy stays weak, its going to be a golden opportunity to buy commodities. Right now, everyone is rushing for any asset, but when emotions are cooled down, commodities will be the place to be. Jim Rogers has it nailed.
Ahhh, question for you. Have you considered leaving the states due to the decline in marriage and the weak dollar? I'm curious to know. I will be back after I do a few dead lifts and squats. Thanks.
Saudi Plans to Keep Riyal Pegged to the Dollar, Adviser Says. http://www.bloomberg.com/apps/news?pid=20602081&sid=aGO6cU_5z57M&refer=benchmark_currency_rates
Does this remind anyone of that scene in ET when ET is dieing and his chart gets lower and lower, and Elliots is following his real close but then finally Elliots chart breaks away from ETs as he returns back to normal?