all along that the dollar would be getting stronger as the Fiscal Cliff
draws near as supposedly more money barrels into the “safety” of US
Treasuries….well, I do hear that the demand for Treasuries is strong
right now….but a curious thing is that the US dollar has not been
I was looking at the UUP (a popular ETF that tracks the US$ against a basket of 6 world currencies) chart just a day or two
ago, and I am surprised at how weak it looks compared to the non-stop
blather I heard from some observers that it would
get stronger and stronger by year’s end.
here’s the US dollar chart itself….ummm, where are those who told us
to bet the dollar and sell everything else? It hasn’t happened
yet….although I suppose there’s still time if the Fiscal Cliff
situation isn’t resolved….my hunch is we will go over the cliff, and so conventional wisdom holds this to be an austerity type event, and the dollar should be strong in such a situation
am holding off on more gold purchases until that happens….once we are
over the cliff, the sell-off in gold will be over just as
others are chasing into the short trade….gold should really shine once we get
moving into February and March, imho!