[gonebroke2]

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Because it is the mighty, mighty dollar!

Seriously though, the dollar is not going to become worthless. It might continue to slide a bit more but I think most of you are severly understimating the strength of the U.S. Economy and the strength of the country in general, long-term.

Get greedy when others are fearful.

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It is not going to become worthless. Just worth about 40-50% less than current values on the USDX. A short lived dollar rally is probably around the corner, but I am not changing my positions. Short CFC, WM, puts on GS and long on gold and silver related assets. Liquid cash currently in Canadian Dollars ETF (+20% on the year) and might be moved to Swiss Franc ETF.

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The financial stocks are getting slaughtered. CFC is going bankrupt and WM to single digits, maybe even extinction. These financial institutions are marking to myth and hiding their derivate exposure. They are finally starting to leak out one by one how bad of shape they are in. Citi dumps their CEO, MER dumps their CEO. Morgan Stanley just announced a 2.5B write-down. You guys are kidding yourselves if you think Goldman is immune. They are going to get slaughtered. [img]/images/graemlins/grin.gif[/img]

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One dumb post too many, bye bye: IGNORE ON!

Jimbo

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Putting me on ignore is not going to fix the problem. The financial stocks are in huge trouble. There is no liquid market for their derivatives. They are priced using fantasy models. Counterparty risk is also a major concern. Who cares if you are up huge on your derivative when the guy you are supposed to collect from is broke. They halted Barclays briefly this morning, now you got Wachovia issuing a write-down, Fannie Mae took a massive loss and warned too. We haven't even started. I anticipate the FED coming in and injecting massive amounts of liquidity into the system causing further downward pressure on the dollar and a massive uptick on gold. Gold is going to $2000 boys. Take that to the bank.