Thar she goes! The Left Coaster
notes that the dollar is falling hard today. And gold is rising. Check out
this chart.
We fully expected it, given the budget and trade deficits. This is something military might cannot stop. Although, since Bush said people concerned about the trade deficit should purchase U.S. made goods, maybe he will recommend Americans purchase dollars!
posted by Quiddity at 2/22/2005 01:18:00 PM
I think only thing that will save US$ is if the US can snatch enough Middle-East real estate that the currency starts to trade as a petro-dollar. Maybe today's action is the markets way of saying "it ain't gonna happen".
Also will be interesting to watch what happens when (if) Wal-Mart breaks below $52 - $50.
Gee, looks like I'll have to take those "Invest In Gold!" ads of Sean Hannity a little more seriously from here on out. ;)
