Tuesday, October 21, 2008

Dollar is surging



Nations of the world and financial institutions are scrambling for dollars. In cases where the Fed is lending dollars directly, like to the ECB and the Eurozone, the dollar rally has been orderly, but relentless. In cases where the Fed is not supplying the dollars, there has been panic selling of the local currency for dollars (S. Korea, India, Mexico).

Euro is at a 19-month low against the dollar
Canadian dollar is at a 3-year low against the dollar
British Pound is at a 5-year low against the dollar
Brazilian real is at a 2-year low against the dollar
S. Korean won at a 10-year low against the dollar
Indian rupee at an all-time low against the dollar
Mexican peso at an all-time low against the dollar

You won't hear that in the media.

P.S. Gold set to fall, SHARPLY!

P.S.S. (Where's Jim Rogers? Peter Schiff? They're suddenly so quiet.)

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