The dollar is moving solidly higher across the board, as markets' initial take is...

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Moon Kil Woong Comments (8806)
 
This is plain silly and may be due to manipulation short term. Fiscal loosening leads to higher currency is very counter intuitive. I expect more dollar weakness to everything but the Euro later and gold and silver to rise later on as the loosening affects the economy and inflation.

Also few people know but the Fed's action to buy up bonds is a subtle attempt to prevent Fannie Mae and Freddie Mac from collapsing. It's a shifting of liability from the government to the government.
21 Sep 2011, 11:52 PM Reply Like