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Politics : President Barack Obama
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To: Bread Upon The Water who wrote (54323)5/7/2009 6:43:48 PM
From: koan  Read Replies (3) of 149317
 
>>IMHO, it won't be deliberate devaluation, but a devaluation that WILL happen incidental to our government's policy of massive deficit financing.<<

You do not need to have a humble opinion for me, just an opinion is fine-lol.

Vintner, here is where my thinking regarding devaluation is coming from. FDR devalued the dollar 46% right off the bat. Many peopel do not realize the great depression wasn't just here it was worldwide.

Every country that devalued their currencies in the early 30's started to climb out of the depression. Countries that didn't, didn't e.g. France and Italy did not devalue until 1936 and were not coming out of the depression, so then they started devaluing and coming out of their depression.

The fed and Obama know this. I will predict a 40% devaluation starting at 88 for a basket of currencies over the next 18 months.

The fed are not going to allow the dollar to devalue helter skeltor, they will control it so as not to panic the world financial markets, especially China.

I follow the dollar very closely. A few weeks ago the dollar was about 88 and it has been working its way down pretty evenly which is how they would do it.

It is now about .83.

wwww.kitco.com

I hold a lot of gold and silver wts and like potash like KCL.

Gold, silver and all commodities will rise as the dollar falls. Notice how the Canadian dollar has been steadily rising agaisnt the US dollar. Commodity country as well as Aussie land and the Kiwi.
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