Wednesday, March 25, 2009

US Dollar Crash Test: Failed. DXY, HUI, XAU, TNR.v, RMK.v, BTT.v, GBN.v, OK.v, SBB.v, KTN.v, AMM.to, CGH.to, ASM.v, FVI.v


US Dollar went into a free fall crash intraday today once news hit the wires "that Treasury Secretary commented on Chinese proposal about New International Reserve Currency as worth consideration..." Bubble Vision immediately claimed the news taken out of context...
Gold spiked to over 940 on the same news: now there is no illusion left how the Market will take move out of US Dollar as a Reserve Currency of Choice.
Angry "No" from Ben And Tim yesterday once they have been grilled on the Hill are more appropriate answers for US Corp officials. Question is when the world will recognise the weakness and will make a move with or without USA? It is the last chance to make a nice face and participate in creation of World Reserve currency and slowly unwind debts in a manageable debasing of US Dollar.
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