Daily Archives: 2008/10/23

Dollar UP Gold DOWN

The Dollar jumped to MultiYear Highs Wednesday while Gold Prices Fell. Investors worldwide are Selling everything , including Gold. Gold for December delivery fell $20.50  closing at $714.70 an ounce in New York and at $720 an ounce in London. Funds were forced to sell assets such as gold to meet Margin Calls and weakness in European economies lifted the U.S. Dollar ,  pushing Gold Prices lower.

The Central Banks of the World are working together coordinating efforts. The world has to prop up the dollar right now. The dollar is the only thing showing value right now because that is where the Big Boys want you. Your playing poker against the people who mark the cards. All the data coming out of the FED shows the dollar is strong. The same people who print the money are the same people who show you the data.

The Dollar is the World’s Dominant Currency – Oil and Gold are Traded in Dollars. For some time , the US has been selling debt to other countries that print other currencies. Foreigners are holding large US Debt making their currency reliant on the Dollar staying strong , otherwise the dollar assets they hold are worth less and their currency is worth less. They can’t get paid if we collapse.

The dollar has rallied as the market crashed and foreign investors bought more United States Treasury Bonds. We’ve seen every asset class drop but Treasuries and the Dollar. Stocks , Commodities and  Corporate Bonds have Plunged. MARGIN CALL , GENTLEMEN. This DeLeveraging has caused what was supposed to be the Big Winner, Gold , to decline.

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