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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NOW who wrote (43186)12/2/2000 3:32:02 PM
From: Oblomov  Read Replies (2) of 436258
 
I agree, there is much pessimism about the dollar among the folks sophisticated enough to understand currency issues; the currency market is a market where J6P sentiment does not matter greatly. In a recession, the current account could quickly go to zero or even become positive... the rest of the world would obviously suffer greatly (worse than the U.S.) from a U.S. recession. This could have the odd effect of strengthening the dollar even as the economy weakens and the Fed cuts interest rates. The result would be deflation.

Of course, I hold some physical PMs and PM stocks as insurance against a USD collapse, but, as a contrarian, I try to consider all possibilities.
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