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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: orkrious who wrote (22848)12/5/2004 10:42:16 AM
From: Tommaso  Read Replies (1) of 110194
 
Even though I am heavily hedged against a dollar decline (at least I think I am), it does not make me happy to contemplate the slide of our country towards the status of Argentina or Brazil, with a plutocratic social structure, endemic inflation, a weak currency, and corrupt businessmen and politicians running things. I think the policies of Bush administration have us headed in exactly that direction.

Thanks for the snips from current Fleckenstein. I would subscribe, too, except that I agree so compeltely with almost everything he says that it's like reading my own thoughts.

Incidentally, just saw in the NY Times that the premium on CEF is back below 3% (maybe people are shorting it against the new gold ETF). Anyone who agrees with Fleck that all currencies are going to be losers versus gold (and silver, 50% of CEF) might consider CEF again. I currently get most of my gold exposure from gold and stocks in Tice's funds and from the gold segment (small) in PCRDX, plus a little physical that I have held for ages.

In October I added a big purchase of Euro traveelers checks to my Swiss francs, but I may just hold them instead of spending them during a couple of upcoming trips. The Euro could easily be at $1.50 by next summer.
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