Three short videos on the dollar, oil and gold here.
By Daniel at 17 December, 2009, 4:07 pm
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http://club.ino.com/join/videos/
Basically, the host is saying stay out of the market until January and calls the period after Dec. 15, the “silly time” for the markets.
Gold is at a crucial Fibonnaci level and the next level is the 100% level and back to about where India bought. Some believe that China would step in and buy the remaining IMF gold at that point.
However, long term, the dollar trend is still down and the world continues to abandon it believing that the FED wants it much lower due to our debt problems. Everything from 40% to 90% lower is being speculated on but, most seem to think the FED would like an orderly decline 50% lower.
This rally in the dollar is more to do with the problems with the Euro than the dollar and the Euro is 57% of the basket the dollar is measured against. The dollar is not measured against strong currencies, just weak ones for the most part. The Euro and the Yen account for 70% of the basket the dollar is measured against.
That is why pressure is growing for regional currencies and eventually a new global currency with gold as one of the currencies in the basket it is measured against. Thus, look for continued central bank buying of gold by nations that don’t have enough of their reserves in gold.
- JanPaul
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