New Reply

Post a Reply

Thread: To buy gold futures?

Title: (100 characters at most)

Content: ( 3,000 characters at most, please )

You can add emoticons below to your post by clicking them.

[quote=MARRIE,268919]Paul, Gold is the last safe haven for investors since Dollar is losing its values as Reserve Currency.  Credit Crunch is just a catalyst of a bigger breakdown.  I am not capable of looking into if financial structure itself has got inevitable deffects.  So I am reading what Soros says on this below. Probably the predicted collaps of U$ could leave much room for curreny speculation. Soros is a big player in curr mkt.

Soros Sees End of Dollar as World's Reserve Currency
    Bloomberg.com
    Edward Evans and Simon  Kennedy - 1/23/08

Billionaire investor George Soros said the fallout  from the U.S.  subprime crisis will bring about the end of the dollar's status as the world's  reserve currency.
"The current crisis is not only the bust that  follows the housing boom, it's basically the end of a 60-year period of  continuing credit expansion based on the dollar as the reserve currency."...   "Now the rest of the world is increasingly  unwilling to accumulate dollars."...
The U.S.  currency has dropped 11 percent against the euro and 13 percent against the yen  in the past year.  It has declined in  five of the past six years...
Soros made $1 billion in 1992 betting against the  pound...
The euro has gained 55 percent against the dollar  since Bush entered the White House on January 21, 2001...
In January 2004, Soros said the U.S. Currency would  drop for a third year.  It then fell 7  percent, according to a Federal Reserve trade-weighted index of the currency...

[/quote]

characters left

Name:

Get a new code