Dear CIGAs,
This situation is serious as the first flame of a financial melt down is getting closer and closer to the short fuse of the interest sensitive over the counter derivatives. A flop in those OTC derivatives would be devastating to the international financial community so it is reasonable to assume it will not occur, at least here and now. In order to prevent such a situation that would act as a vacuum on liquidity, the Federal Reserve must act to add liquidity to an already brimming over the top world liquidity situation.
Since this is super bearish for the US dollar, it is super bullish for gold.
The courage of my youth has returned as I bid every $2 lower as the noobies pound away at gold. The dollar is heading for .8050 while the euro is only 4/100 below 1.33.
Wish me luck.
Respectfully yours,
Jim
LHG
unknown
Dear CIGAs,This situation is serious as the first flame of a...
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