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Strategies & Market Trends : Strictly: Drilling II
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To: SliderOnTheBlack who wrote (28276)2/17/2003 10:47:25 PM
From: big guy  Read Replies (1) of 36161
 
"Many - MANY inside the Bush ADMIN - want USD 80...as POLICY !"

I'm sure there are many in the bush administration that would welcome USD 80. The problem may lie in the fact that the rest of the world may not welcome that USD 80 with quite as much enthusiasm.

"We need and should welcome a weaker...dollar."

According to the dollar index our dollar buys close to 18% less than it did a little over a year ago. If it hit that 80 target you speak of were talking about a 34% haircut on imported items. I agree a lower dollar is the only way out of this mess and a necessity at this time but I will never welcome it and what it brings along with it. Lets see what do we still manufacture in this country? And then we still have the problem of one huge exporter nation that has its currency pegged to our dollar. The lower we go the lower they go. Now if one only had an idea when that peg would break now there would be a money maker.

"Also; who says Gold is going to become the substitution for the USD anyway ?"

I'm not saying it will. But I do believe when it is all said and done our currency will be something that is backed by more than a promise.

I wish you the best of luck in your trading Slider. You seem to have your timing down to a science. I just believe there is to much potential for a sudden move in the gold market due to the current environment to be grilling people constantly for hanging on to there positions.
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