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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (117676)	2/3/2009 1:07:44 PM
From: Knighty Tin	Respond to of 132070

Under Roosevelt, it wasn't illegal to trade gold, but the price never changed, that made it a moot point. With the average American having so much access to foreign markets, I doubt it could be done today. I also don't see why they would want to do it. There is not enough gold relative to our currency to have any negative impact on the Bush Peso. IMHO, the best way to bet against the buck is with foreign, sovereign bonds. Using currencies alone is o.k. for a trade, but the absence of interest makes it expensive unless your timing is perfect. There are funds and closed end funds that do this. Those such as FCO and Fax have done an o.k. job, but their fees eat up the low interest paid by sovereign debt. I'd rather buy the individual bonds. I remember that Smith Barney was very good in European bonds and emerging markets (where I prefer a fund), but a non starter in Asia.