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Well, don't know how long it will last, but the markets are up again today - that's 5 pf the last 6 days and is (at the moment closing in on a 20% gain from it's low).
"The rally comes after gains Tuesday when the government issued a much stronger-than-expected report on housing starts and building permits in February. It was the fifth gain in six sessions for the major indexes.
Tuesday's housing data, along with an upbeat report on retail sales out last week, raised hopes that these critical areas of the economy are showing tentative sings of improvement."
Meanwhile the dollar got destroyed today and gold was up $20 from being down $30 on the announcement that the Fed is cranking up the printing presses by buying $300B of Treasuries.
Meanwhile the dollar got destroyed today and gold was up $20 from being down $30 on the announcement that the Fed is cranking up the printing presses by buying $300B of Treasuries.
Well, the dollar is down against foreign currencies - but that has both good and bad points to it.
In regards to the price of gold, it looks to me that (at least at the moment) its' price is DOWN.
Well, the dollar is down against foreign currencies - but that has both good and bad points to it.
In regards to the price of gold, it looks to me that (at least at the moment) its' price is DOWN.
Ken
The dollar is down for the day, but still in good standing against the Euro compared to a year ago. It is hardly "destroyed". It's still a good time to convert $$ into other currencies and transfer some money out of the country. I say this because I believe that the collapse of the USD is a real possibility.
The dollar is down for the day, but still in good standing against the Euro compared to a year ago. It is hardly "destroyed". It's still a good time to convert $$ into other currencies and transfer some money out of the country. I say this because I believe that the collapse of the USD is a real possibility.
Another good reason is because capital controls may make it legally impossible as the gubmint clamps down on people fleeing the dollar.
CNBC calling people who buy gold "short on America" is ridiculous to those who wish to abandon a sinking ship.
The dollar is down for the day, but still in good standing against the Euro compared to a year ago. It is hardly "destroyed". It's still a good time to convert $$ into other currencies and transfer some money out of the country. I say this because I believe that the collapse of the USD is a real possibility.
Be careful, the Euro is in dire straights. I would not gamble any significant amount at this point in time.
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