The Dollar...this summer may be it....

Discussion in 'Economy' started by Trajan, Apr 25, 2011.

  1. Trajan
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    Trajan conscientia mille testes

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    I don't know very much about puts and calls, I had to read the same brief on what a CDS is 5 times, I think, finally get it. I do know what sounds attractive and is and why, because I have been trained so to speak by one of my oldest friends....he gave me Amgen at the original 52 and 2-3 other tidbits, like gold at 998.00.

    The 4 times he has told me to go, I did and I have made a killing each time. Figure, sooner or later the magic has got to fail right?

    He told me yesterday that the dollar will test a new low this summer, below the July 08 and becasue its 3 years after and all of the poor monetary management piled on top of it , he says and he never says this, he said it will be 'very bad'. For him, 'doing poorly ' means Armageddon. :lol:


    I saw we dropped thru 70. this morning......He suggested strongly that I not cash in any gold yet and he threw a number at me that I am embarrassed to share as a new high....

    may you live in interesting times.
     
  2. sparky
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    sparky VIP Member

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    So, all the "happy-times" propaganda has had zilch effect. The public's not buying it. They know we're in a Depression. How could they not know? They're underwater on their mortgages, they can't get a loan, their kids and Uncle Arnie can't find work, and the guy in the Oval Office won't do a damn thing to help out. Is it any wonder why so many people are giving up on capitalism entirely. Just take a look at this survey from Globescan for a real shocker:

    "American public support for the free market economy has dropped sharply in the past year, and is now lower than in China, according to a GlobeScan poll released today.....When GlobeScan began tracking views in 2002, four in five Americans (80%) saw the free market as the best economic system for the futureĀ—the highest level of support among tracking countries. Support started to fall away in the following years and recovered slightly after the financial crisis in 2007/8, but has plummeted since 2009, falling 15 points in a year so that fewer than three in five (59%) now see free market capitalism as the best system for the future.

    GlobeScan Chairman Doug Miller commented: "America is the last place we would have expected to see such a sharp drop in trust in the free enterprise system. This is not good news for business."

    The results mean that a number of the world's major emerging economies have now matched or overtaken the USA in their enthusiasm for the free market. The Chinese and Brazilians, 67 per cent of whom regard the free market system as the best on offer, are now more positive about capitalism than Americans." ("Sharp Drop in American Enthusiasm for Free Market, Poll Shows", GlobeScan)

    Can you believe it? The Chinese like capitalism better than Americans. How's that for irony? And, don't kid yourself, the average working slob isn't spending his evenings thumbing through the Communist Manifesto while strumming L'Internationale on his 6-string. That's nonsense. Americans are practical people. They know they're getting screwed by both parties which is why their support for capitalism has eroded even faster under Obama. It fell "15 points in a year" since 2009. Way to go, Barry.


    Mike Whitney: Welcome to Banktopia
     
  3. sparky
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    sparky VIP Member

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    This year July has 5 Fridays 5 Saturdays and 5 Sundays. This apparently happens once every 823 years.

    ooohhhhhh............
     
  4. Trajan
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    Trajan conscientia mille testes

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    :lol:

    end of days!!!!!!!
     
  5. Intense
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    Intense Senior Member

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    Heavy Tourism ahead in NYC this Summer with the weak dollar.

    [ame=http://www.youtube.com/watch?v=eLdv4a3AVIY]YouTube - Summer In The City Lovin' Spoonful[/ame]
     
  6. Toro
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    Toro Diamond Member

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    Maybe.

    I think the dollar will bottom this year. I think a lot of the anti-dollar trades will carry out a lot of people. Well, I know that will definitely happen when it happens.

    But I'm just guessing.

    And I went short silver today, buying deep out of the money puts that didn't cost me much but will have a huge payoff if I'm right.

    Too many dollar bears / silver bulls.
     
  7. LordBrownTrout
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    LordBrownTrout Gold Member

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    Aw come on, Trajan!!! I've been listening to an old mentor for twenty years now on silver. He's been on that stuff since the 60's. Anyways, he's never missed a beat on the entire economical spectrum over the last 40 years. Probably why I'm having no qualms about hanging on to silver for a while longer even though I'm deeply saddened with what is transpiring and what's about to happen. Pretty times ain't ahead.
     
  8. sparky
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    sparky VIP Member

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    perhaps if investment during economic decline is the issue, privatizied public infastructure should be considered>

    Chicago, of course, is still a few privatizing steps behind smaller towns like Maywood, Calif., and Sandy Springs, Ga. And its commitment to the Municipal Dystopia agenda hasn't yet delivered the same painful budgetary consequences that may now push the Springs off that course. But if the numbers from Chicago's past privatization deals predict the future, then it and other cities following the same path will indeed face those consequences -- the only question is whether, like the Springs, those cities must bear that pain before voters finally demand a true change of direction.


    Reaganomics will bring our cities to ruin - War Room - Salon.com

    of course , that might mean becoming a target should the trains not run on time.....
     
  9. editec
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    editec Mr. Forgot-it-All

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    I suspect the only thing currently sustaining the value of the USD is that so many banks, pension funds, insurancne companaies and foreign nations are holding so much US debt and they are fearful of a real run on the USD.

    So I suspect there's a lot of back room deals and agreements going to to keep it from collapsing.

    At least until the masters can get their money out quietly and without fanfare.

    Once they are out of their position, I don't doubt they'll not only let, but take advantage as greenback collapses.

    Am I paranoid?

    I doubt it.

    In this world, folks, I'm finding that my paranoia cannot keep up with reality.
     
  10. sparky
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    sparky VIP Member

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    ZZZZZZZZZZZZzzzzzzzzzzzzzzzzzZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzz
     
    Last edited: Apr 26, 2011

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