Friday, November 28, 2008

The Greenback Is Doomed

Commodities bull Jim Rogers said just two days ago that the greenback is doomed. He has a valid point here!

The dollar has been rallying over the past few months due to its uniqueness in being a safe heaven for wealth in times of turmoil. But this trend will not hold.

The recent rescue packages in U.S. have pumped huge credit into the system, resulting in oversupply. Added to this, the outlook for the Fed rate to go down to zero also gives pressure to the greenback.

Have a good weekend.


Kong said...

I reckon the greenback is a mere paper tiger. Once people see through it, it will crash.

Tony Hii said...

The long-term prospects of the greenback are really bearish!