Re: Why will the dollar rally?
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Nah, he won't take this bet on the basis that earnings don't mean anything when broker-dealers can just mark-to-whatever. Which is a valid objection, but I don't think brokerage firms are lying by much. Big commercial banks, on the other hand, I have no idea.
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Exactly. These companies are cooking the books by marking to model and not to market. When they eventually mark to market, some of these guys are going bust. I am not saying Goldman is going broke, but I sure as hell wouldn't be buying them. I am buying puts on them. This is not over by a longshot. Just beginning in my opinion.
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