quantumthink

Sinking Dollar Presents Great Currency ETF Opportunities

Sol, I believe you are absolutely right. All fiat currencies are going to be worthless before long. Buy gold and silver insttead.
I had an incident recently that may or may not be related.
The Rydex Weakening Dollar Fund is a 2x1 leveraged, no load fund betting on a weaker dollar.

On Nov. 24, 2008 I bought shares of RYWBX at $20.44.
That day, the US Dollar Index was trading at around 85.
Currently, the US Dollar Index is trading around 82, or about 4% lower,
yet, RYWBX is trading at $17.44, also lower by about 15% from when I bought it.
I wanted to know why that is, so I called a rep. at Rydex.
He told me that it is due to "negative accrual."
That the USD had gone down, then it went back up.
He said the fund doesn't track well over a long period.
That it is more of a day to day fund......

Does this make any sense to you, or is this just another Wall St. scam?