Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: NOW who wrote (2875)	3/26/2004 10:49:57 AM
From: mishedlo	Read Replies (2) of 116555

Plunger on currencies and gold I keep meeting people who say it's time to re-short the USD. Maybe it's early, but when it's time ... against WHAT? Every currency except one has its problems US$ - too much debt EUR - no growth GBP - housing bubble AUD - housing ex-bubble CAD - too close to a declining USD NZD - to strong already SWF - too small an economy JPY - offical debasement in progress RMB - non deliverable, USD-linked etc Which is the one without problems? "POG" Y'all better believe it, remember we said way back that when Europe and Oz cut, gold will decouple. 30 bp of cut is now completely priced into Euros ... market clearly looking for 50. Oz curve is flat as a plank only a few weeks after the RBA almost promised more hikes. Plunger.

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