Global Currency crisis brewing ?
Interesting observation by Fleckenstein here:
<< The big news overnight was that Korea got slammed for about 6 percent, as its currency, the won, got pummeled again. There has been no shortage of smaller currencies that have been pounded lately, all making new lows. There may in fact be a "stealth currency crisis" going on (thank you, Greg Weldon). In no particular order, the South African rand, the Polish zloty, the Ukrainian hyrvna, the Romanian leu, the Philippine, Columbian and Chilean pesos, the Venezuelan bolivar, and the Indian rupee have all hit new lows. So we need to be aware of the possibility of an emerging currency problem. >>
A Global currency crisis brewing...another .50bp hike and a potential double digit prime rate only weeks away.
35% Oil & Nat Gas Stocks, 25% cash, 25% Gold/metal stocks and 15% in Tech; but looking for any reason to swap tech for more Gold/Metal Stocks.
tic toc...
yes; Roebear - I have seen the light ~ (and it's a "yellow" beacon at the end of that tunnel)(VBG)...
Long: AEM GOLD HGMCY FCX N PAAS SWC & PD
PD an interesting defensive play - has hit at least $60 in each of the last 5 years; which is a 31% return from yesterdays closing price & has a nice dividend to boot. |
