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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (14817)	11/21/2008 4:57:00 PM
From: Condor	Respond to of 71463

He's vice chairman of the FOMC. Dollar -> 0. Gold -> moon. Him and Ben will make us into Zimbabwe. -g- Ok. Got it. Steady as she goes.

To: Real Man who wrote (14817)	11/21/2008 5:59:45 PM
From: zamboz	Respond to of 71463

Peter Schiff: 'Opportunity of a Lifetime' in Gold, Intl. Assets -- Not U.S. Stocks The stock market's staged another wild ride Friday before ending sharply higher on news Timothy Geithner will be named Obama's Treasury Secretary. As stocks "reflated" Friday, so too did gold, which appears to be reemerging from its slumber. The precious metal rallied $51, or 6.9%, to $800 per ounce Friday, and investors can expected "much bigger moves ahead" for gold, says Peter Schiff, president of Euro Pacific Capital. A longtime gold bull, Schiff believes the dollar's "phony" rally will soon end. To his credit, Schiff admits being caught off guard by the greenback's recent bounce, but believes efforts by global central bankers to fight the credit crunch will lead to devalued currencies, and higher commodity prices. (To his greater credit, Schiff has gotten a lot of things right in recent years, unlike most others.) Gold's recent slump — it remains more than 20% below its summer highs — is partially due to the "massive margin call" hitting U.S. financial firms, Schiff surmises. That process has created the "opportunity of a lifetime" in foreign stocks, currencies, and commodities, says the author and noted bear. But it's not too late to sell U.S. stocks, which Schiff believes have another 5 to 10 years of bear market action ahead as America struggles to come out from under a mountain of debt. finance.yahoo.com