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Wabbit Season, Duck Season : Strong Dollar, Weak Dollar

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November 11, 2009 – Comments (3)

These two teaser lines in today's WSJ Morning Brief e-mail were good for a chuckle.

Geithner said maintaining a strong dollar is "very important" for the U.S. economy.

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Further dollar weakness drove gold to a new record, after comments from a top Federal Reserve official indicated the Fed won't stop the dollar's decline unless it becomes disorderly.

Looks like someone got the wrong set of talking points. 

Russ

3 Comments – Post Your Own

#1) On November 11, 2009 at 6:47 PM, Teacherman1 (29.15) wrote:

Verrrrrrry Interesting.

And they want to run the health care system.

Hmmmmmm?

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#2) On November 13, 2009 at 3:06 PM, cashkid79 (94.98) wrote:

They didn't happen to mention anything that might enlighten those of us unsure about what the Fed considers 'disorderly'..

...is it when Treasury bonds fall out and foreign countries start acting on the US risk aversion that's been building up overseas and go in a direction that doesn't follow our plans&guidelines for global order...hopefully not...

Assume division by a few zeroes in financial reports and an alias like 'Omar States' to walk in to a BAC or WFC....is it likely we'd have (at least) prime rates handed over with open-ended credit lines and terms tailor fit to our needs?  Well, obviously, it would mean nothing but...

...crazy thing is w/o the alias, the bank wouldn't even realize 'Mr. States' really kinda owned the cash that he printed and handed over to them....just didn't have time to implement all those little accountability measures in such a time of crisis----it was an emergency, so we dump gasoline everywhere and hope for rain...

Anyhow - I hate coming off like I'm so much smarter because I can point out problems and questionable decision making abilities when talking about events that happened already and led us here...and there is no way ANYONE is gonna convince me they know the future, BUT - taking inventory of personal resources and opportunities I possess helps me realize that this global economic crisis could be the one single event that makes me $$$$ to a level where I don't have to stress about anything short of revolutionary war....Kindof exciting in a way, especially when you are 30 years old, educated, smart, privileged, and unmarried ahaaa...

I see the news every day another sad story about Americans with troubles that all stem from LACK of money in their pockets...no,no,no, knowledge, preparation, opportunity = LUCK according to some... it = BEING PRUDENT about wanting to enjoy the only 55 or so years I have on this planet to me, and I hate to say it, but I'm gonna need money (the kind that's got more than a few cent intrinsic value) , gold bars, whatever....THEN, healthcare, unemployment, etc.etc.etc.... shouldn't stress me/anyone to the point of shaving years off your life (remember, healthcare <- we may have a legal death age by the time I hit 80 if I earn little and have chronic medical issues I may just get a special 'last' shot while in the parish voting booth that year) 

haaaaa.....just laugh....somehow something's gonna happen and we will adjust, its what we do as humans....cavemen, evolution, and now - whatever we are now....

cash

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#3) On November 13, 2009 at 9:36 PM, rd80 (96.91) wrote:

I deleted the e-mail, but I'm pretty sure the weaker dollar link was to this article.  Mr. Fisher doesn't clearly define what the Fed would consider 'disorderly.'  

To be fair, in full context Fisher's statements aren't as severe as the teaser line makes them out to be.  From the quotes, he understands the risks, but sees a weaker dollar as a lesser of evils. 

And he seems to be telling it like it is unlike the hopey-changey-wishy speak we get from Timmy TurboTax.

 

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