01/29/10 Pylesville, Maryland The next flight to dollar safety may very well be faster and more violent than the first.
It doesn’t make any sense — unless the buyers ‘know’ something that the rest of the investing public doesn’t. If we are on the verge of another collapse, the dollar, as bad a shape as it’s in and crazy as it seems, will be the beneficiary.
Here’s why: When the dollar began its meteoric rise late in the summer of 2008, nearly everyone believed it was a countertrend. But as it grew in both intensity and volatility, and as it became clear there were mounting troubles coming to the surface, then the real rush began. Folks were flocking to the dollar. But it was the Johnny-come-latelies who really accelerated the move.
This time around, nobody wants to be the Johnny-come-lately. Standing with their fingers on the button, folks are trying to squeeze every last bit of profit from the stock rebound, but I think most of them know that it can’t last. Fundamentally, nothing has improved or changed. Actually, many things are much worse. And the buyers of PowerShares know it.
Bill Jenkins
Bill Jenkins knows the Forex currency markets inside and out. After 20 years and a string of losses following other people's crack advice, Bill created his own system for cashing in on tiny currency fluctuations between the British pound and the U.S. dollar. Now you have a chance to benefit from his “lifetime” of hard-earned experience. Bill’s advice has led readers to gains of 33% in a week... 70% in four days... and 100% practically overnight. And we've broadened the service to include the euro, yen and other currencies in these volatile trading markets. When Bill is not helping people enjoy big wins with simple currency plays, he's a church minister and owns his own contracting business.
The Daily Reckoning is your premier source for making sense of the news Washington and Wall Street generate. Each business day, The Daily Reckoning calls on its stable of world-class writers and thinkers to show you how to get ahead.
Start your 100% FREE subscription to The Daily Reckoning today and you’ll get a free research report, “How to Survive the Fall of Social Security.” Simply enter your email address below to get your free report and join over 495,000 worldwide Daily Reckoning subscribers!
We Respect Your Privacy and We will
Never Share or Sell Your Email Address
