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jesusfreakinco (31.86)

Even IMF is dissing the USD

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5

November 08, 2009 – Comments (3) | RELATED TICKERS: FED , CRO , OKS

The U.S. currency dropped against 12 of its 16 major counterparts as the International Monetary Fund said traders are probably using the dollar to fund so-called carry trades around the world and it may still be overvalued.

The dollar also weakened after the IMF said in a report published on Nov. 7 that while the dollar “has moved closer to medium-run equilibrium,” and it is still “on the strong side.” 

Full article

JFC - folks.  When are you going to realize the USD is being devalued and apparently with the blessing of the IMF.  You have two options if your weath and income is derived in the US - gold and foreign currencies.  GET OUT OF THE USD HOLDINGS ASAP.

A little birdie told me that ML is recommending significant gold exposure to their high worth clients.   Invest in USD holdings at your own risk...

 

3 Comments – Post Your Own

#1) On November 08, 2009 at 10:45 PM, jahbu (94.42) wrote:

Then why did they IMF just sell a ton of gold to India?  If gold is going to the moon and the IMF is so smart, why would they sell their gold for FIAT money right now?

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#2) On November 09, 2009 at 12:51 AM, ajm101 (39.90) wrote:

I heard that ML was recommending its clients buy mortgage backed securities 3 years ago.

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#3) On November 09, 2009 at 11:50 AM, jesusfreakinco (31.86) wrote:

Jahbu - who said the IMF was smart?  Value is in the eye of the beholder...  I am betting with India (and China for that matter).

Ajm101 - well... fair enough.  I think they are right on this call though

JFC

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