Thursday, July 30, 2009

Dump Your Dollars

"The U.S. dollar will considerably lose its position regarding the Asian currency soon, the western analysts believe," says this report — U.S. dollar to yield position to Asian currencies. "However, official intervention by regional central banks has traditionally kept Asian currencies a bit weaker than economic fundamentals would suggest" and "is likely to continue, particularly for the more heavily export-dependent economies as the global recovery disappoints."

While you're mulling over Michael S. Rozeff's advice — A Very Few Elements of Gold Strategy — you might want to listen to this eerily prophetic and very catchy tune from 1977 — Peter Tosh - The Day the Dollar Die.

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Omnes Sancti et Sanctæ Coreæ, orate pro nobis.